$2,975/mo - 484 Spadina Avenue Unit 507, Downtown Toronto
Condo for Rent in Downtown Toronto
76 days on market- MLS Number
- C12944612
- Property Type
- Condo
- Status
- active
- Days on Site
- 76
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 500 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- None
- Exposure
- North
- Balcony
- Juliette
- Listing Brokerage
- SOTHEBY'S INTERNATIONAL REALTY CANADA
Welcome to Waverley, a boutique purpose-built rental residence by Fitzrovia, located at the iconic corner of College Street and Spadina Avenue. Thoughtfully designed to reflect the creative energy and heritage of the neighbourhood, Waverley blends contemporary architecture with artistic interiors and hospitality-inspired living. The building pays tribute to the site's storied past, including the historic Silver Dollar Room, seamlessly integrated into a modern residential experience. Suites feature smart, efficient layouts with elevated designer finishes, including stainless steel KitchenAid appliances, quartz countertops, integrated dishwashers, in-suite laundry, custom millwork, smart keyless entry, and Wi-Fi-enabled Nest thermostats. Select suites offer kitchen islands and wine fridges. Pet-friendly building. Residents enjoy a comprehensive amenity collection including a signature rooftop infinity pool, The Temple commercial-grade fitness centre, yoga and spin studios, co-working and lounge spaces, screening room, pet spa, landscaped terraces with BBQs, and a double-height lobby featuring 10 DEAN Café & Bar and Greenhouse Juice. Additional conveniences include 24-hour concierge, secure parking, bike storage, EV charging, luxury car share, and professional on-site management. Steps to Kensington Market, Little Italy, Chinatown, U of T, and TTC streetcars, offering immediate access to some of Toronto's most vibrant cultural destinations. A rare opportunity to lease in one of downtown Toronto's most distinctive rental communities.
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.
484 Spadina Avenue Unit 507, Downtown Toronto / Waterfront
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
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
Above Market Rent
At $2,975/mo, this is asking above the typical 1-bedroom rent of ~$2,300/mo in Downtown Toronto. That premium needs to be justified — newer finishes, included parking, a premium location, or utilities included. I'll help you assess whether it's worth it or whether there's room to negotiate.
Negotiation Opportunity
At 76 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.
Efficient Living
At 500 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.