$1,900/mo - 318 Richmond Street Unit 1905, Downtown Toronto
Condo for Rent in Downtown Toronto
33 days on market- MLS Number
- C13129404
- Property Type
- Condo
- Status
- active
- Days on Site
- 33
- Bedrooms
- 0
- Bathrooms
- 1
- Square Feet
- N/A sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- None
- Exposure
- East
- Balcony
- None
- Listing Brokerage
- RE/MAX REAL ESTATE CENTRE INC.
Welcome to this spacious studio suite at 318 Richmond St West, ideally located in the heart of Toronto's vibrant Entertainment District. This bright and functional unit features unobstructed city views, upgraded flooring, and a modern kitchen with stylish finishes, creating a comfortable and contemporary living space in one of downtowns most sought after locations. The efficient open-concept layout offers excellent flexibility for living, dining, and work-from home needs while large windows fill the unit with natural light throughout the day. Situated in an unbeatable downtown location, you are just steps from some of Toronto's best restaurants, cafes, nightlife, shopping and entertainment venues. Enjoy walking access to the CN Tower, Ripley's Aquarium of Canada, the waterfront, Queen west, the Financial district, and the city's renowned Theatre district. TTC and streetcar and subway access are nearby, making commuting across the city effortless. The surrounding area offers an energetic urban lifestyle with everything you need just outside your door. Residents enjoy access to premium amenities including 24-hour concierge, fitness centre, yoga and Pilates studio, games room, spa, media room, indoor pool, sauna and more, bringing resort-style convenience to everyday living. A fantastic opportunity to live in a spacious downtown studio surrounded by the very best of Toronto. Ideal for professionals seeking an exciting urban lifestyle.
Discover Downtown Toronto / Waterfront
Downtown Toronto / Waterfront is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Downtown Toronto / Waterfront
- •Convenient location in Downtown Toronto / Waterfront
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Downtown Toronto / Waterfront offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
318 Richmond Street Unit 1905, Downtown Toronto / Waterfront
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How this lease stacks up against the local rental market
Estimated Monthly Budget
Things to Confirm Before Signing
· Are utilities included, or separate?
· How many parking spots are included?
· Is the landlord open to a 1-year or 2-year lease?
· Are pets and small renovations (paint, hooks) allowed?
· When was the last rent increase, if there is a prior tenant?
Utility estimates are approximate and vary by season, habits, and what the landlord includes. Always confirm inclusions with the listing agent.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Rent
At $1,900/mo, this is priced below the typical 1-bedroom rent of ~$2,300/mo in Downtown Toronto. Well-priced rentals move fast — worth acting on. That said, let's check what's driving the lower ask: landlord flexibility, lease term restrictions, or simply a motivated landlord.
Market Position
At 33 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Efficient Living
At 0 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
Lease Terms to Negotiate
Don't just focus on the monthly rent — the lease terms matter just as much. I always advise my rental clients to clarify: what's included (parking, storage, utilities), the lease length options, the landlord's policy on renewals, and whether small personalizations like painting are permitted. These details can make or break your experience over 12–24 months.
Let's Walk Through It Together
Photos can't tell you about traffic noise, natural light at different times of day, or how well the landlord maintains the property. When we view it together, I'll assess the condition of appliances, HVAC, and finishes — and flag anything that might become a headache. I'll also help you understand the lease terms before you sign anything.