$640,000 - 4800 Highway 7 N/A Unit 508, Vaughan
Condo for Sale in Vaughan
134 days on market- MLS Number
- N12634270
- Property Type
- Condo
- Status
- active
- Days on Site
- 134
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 600 sqft
- Neighbourhood
- Vaughan
- Locker
- Ensuite+Exclusive
- Exposure
- South
- Balcony
- Open
- Listing Brokerage
- RE/MAX PREMIER THE OP TEAM
Welcome to Unit 508 in the prestigious Avenue On 7 condo building-an impressive 2-bedroom, 2-bath suite featuring soaring 9-foot ceilings and beautifully upgraded finishes throughout. The open-concept kitchen offers quartz countertops, a stylish backsplash, a center island with seating, and stainless steel appliances, making it perfect for both cooking and entertaining. The second bedroom provides versatility as either a spacious home office or a comfortable guest room, complete with its own closet. An inviting foyer welcomes you with a generously sized 2-piece guest bathroom and convenient en-suite laundry. Floor-to-ceiling windows fill the unit with natural light all day, while the extra-large south-facing balcony, enhanced with upgraded composite deck flooring, offers ample space for relaxing or hosting guests. Ideally situated near public transit, shopping, and major highways, this sought-after building also features resort-style amenities including an outdoor pool, luxury gym, party and media rooms, visitor parking, and concierge service.
Estimate your monthly payments for this property
Estimated Payment
$3,283.53/mo
Includes CMHC insurance ($17,856)
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 Vaughan
Vaughan 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 Vaughan
- •Convenient location in Vaughan
- •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
Vaughan 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.
4800 Highway 7 N/A Unit 508, Vaughan
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Rental income estimator & ROI calculator
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 $1067/sqft, this property is priced in line with current Vaughan 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.
Negotiation Opportunity
At 134 days on site, this property has exceeded the typical selling timeline for Vaughan. 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.
Efficient Living
At 600 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.
Investment Perspective
Looking at this as an investment: Vaughan properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,667 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.