$3,900/mo - 40 Merchant Lane Unit 113, Downtown Toronto
Condo for Rent in Downtown Toronto
64 days on market- MLS Number
- C12999860
- Property Type
- Condo
- Status
- active
- Days on Site
- 64
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,200 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Exclusive
- Exposure
- North West
- Balcony
- Terrace
- Listing Brokerage
- RE/MAX HALLMARK FIRST GROUP REALTY LTD.
Welcome to this bright, renovated end-unit townhome in the heart of Dufferin Grove-where urban energy meets neighbourhood charm. Spanning multiple levels, this sun-filled residence offers a thoughtfully designed open-concept living, dining, and kitchen space (2021), complete with stainless steel appliances, quartz countertops, heated floors, soaring ceilings, and expansive west-facing windows. New hardwood flooring runs throughout three levels, while west exposure windows and two Juliette balconies bring in natural light and a touch of character. The flexible layout includes 2+ bedrooms, two dedicated office spaces, two bathrooms, and generous storage-ideal for modern living and working from home. Step outside to your private rooftop terrace, featuring a BBQ gas line and panoramic west, south, and north views-perfect for entertaining or unwinding. Underground parking and a storage locker add everyday convenience. Set in one of Toronto's most sought-after pockets, you're just moments from Roncesvalles, The Junction, and High Park. Walk to local favourites like Stedfast Brewing Co. and Spaccio West, with Dundas West and Lansdowne subway stations, the UP Express, GO Transit, and bike paths all within easy reach. Pet-friendly and community-oriented, with access to visitor parking, playgrounds, and a dog run-this is elevated city living with a true neighbourhood feel.
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.
40 Merchant Lane Unit 113, 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
Fairly Priced Rental
At $3,900/mo, this is in line with typical 3-bedroom rents in Downtown Toronto (~$3,500/mo). The rent itself may be firm, but there's often room to negotiate on lease terms — move-in date, appliance inclusions, or parking.
Negotiation Opportunity
At 64 days on site, this property has exceeded the typical selling timeline for Downtown Toronto. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
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.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
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.