$1,895,000 - 390 Wellesley Street Unit 16, Cabbagetown
Condo for Sale in Cabbagetown
45 days on market- MLS Number
- C13077518
- Property Type
- Condo
- Status
- active
- Days on Site
- 45
- Bedrooms
- 4
- Bathrooms
- 3
- Square Feet
- 2,250 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Locker
- None
- Exposure
- North South
- Balcony
- Terrace
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES LTD.
A design-led Cabbagetown condo townhome at the scale of a house, without the maintenance profile of an old Victorian. No narrow rooms, no endless renovation list, no street parking stress. Just 2,350 sq ft, three bedrooms, three bathrooms, a private backyard, two underground parking spaces with an EV charger, Lutron lighting, and a professionally executed top-to-bottom renovation completed in 2019. Unit 16 at 390 Wellesley Street East sits within Owl House Lane, a private enclave of just 21 residences in the heart of Cabbagetown. The main floor opens with a proper foyer with a stone floor, dramatic black fluted stair screen, and a clear sightline to the light-filled recreation room beyond. A dedicated, large laundry room with ample storage, a recreation room that is flooded with natural light with a gas fireplace, and a full-width sliding walkout to approximately 600 square feet of private rear garden with a gas BBQ hookup. A powder room off of the hallway completes this level. The second floor is where the home truly begins to unfold. The open-plan living, dining, and kitchen stretches across the full width of the home with a design that is rare in this category. Floor-to-ceiling glazing, a dramatic rear skylight, Juliette balcony, oversized stone island, stone slab backsplash, dark full-height handleless cabinetry, and a dedicated kitchen skylight. The third floor delivers three actual bedrooms. The primary suite features vaulted ceilings, a walk-in dressing room with custom cabinetry and mirrored wardrobes, and an ensuite with frameless glass shower and matte black fixtures. Two properly sized bedrooms and a well-finished family bathroom complete the floor. Steps to Riverdale Farm, the Don Valley trails, and the best of Cabbagetown. Minutes to Bloor-Danforth and Yonge.
Estimate your monthly payments for this property
Estimated Payment
$8,382.22/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Regent Park / Cabbagetown / St. James Town
Regent Park / Cabbagetown / St. James Town 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 Regent Park / Cabbagetown / St. James Town
- •Convenient location in Regent Park / Cabbagetown / St. James Town
- •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
Regent Park / Cabbagetown / St. James Town 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.
390 Wellesley Street Unit 16, Regent Park / Cabbagetown / St. James Town
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $842/sqft, this property is priced in line with current Cabbagetown market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Market Position
At 45 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.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Cabbagetown. Good resale value as demand remains consistent.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: Cabbagetown properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $7,896 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.