$1,499,000 - 488 University Avenue Unit 2910, Downtown Toronto
Condo for Sale in Downtown Toronto
99 days on market- MLS Number
- C12860314
- Property Type
- Condo
- Status
- active
- Days on Site
- 99
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,000 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- None
- Exposure
- South West
- Balcony
- Open
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES LTD.
Seven Years New.The Residences of 488 University Avenue takes the quality of downtown living to new heights, offering a level of service and lifestyle amenities found only in the world's finest hotels and residences.From the dramatic SkyLobby to the lifestyle amenities of the SkyClub on 18th & 19th floors to Valet Parking, concierge.#2910 offers a Spectacular Flow-Through floor plan designed to capture the maximum effect of Naturally Lit Space and Beautiful Views with the 9 ft Floor-to-Ceilings + Windows Walls. This Upgraded SW Corner offers 2 Bedrooms + Large Den and includes 2 Full Bathrooms this suite is 1075 Square Feet in size with an Oversized 165 Sq ft Balcony. In addition to the purchase price and the $30,000+ spent in upgrades in 2020 (see attached list) the Sellers paid $62,000 for the "Right to Park their Vehicle" which is a convenient 24 hour In & Out Valet Service that can be transferred to the Buyer for one (1) Registered Vehicle(see attached info regarding:Parking) with a One Time Registration Fee ($240)to register one vehicle as long as you have the same vehicle and other fees outlined in the attachment. This suite offers a Luxurious, Spacious, Open Concept Plan with Modern Kitchen,Top-of-the-Line AEG Appliances ,B/I Wine Fridge, Liebherr Fridge-Freezer, B/I electric ceran cook top, Ovens,Stacked (White) Washer & Dryer. 24 Hour Concierge. Indoor Pool, Fitness Centre, Roof Top Deck , NON-Smoking Building. Direct Access on Ground Floor of Building to St. Patrick (Dundas) Subway and a Cafe Bistro located in the north-east corner of the main building entrance. 488 University is walking distance to the best of Toronto Hospitals,(University Health Networks's Toronto General Hospital on 02/25/26 ranked # 2 in the world in Newsweek Magazine's World's Best Hospitals 2026), Restaurants, Eaton Centre, Bay Street Financial District, the Court House, Osgoode Hall, Four Seasons Centre of Performing Arts, AGO, Chinatown, ROM, Yorkville and so much more to explore.
Estimate your monthly payments for this property
Estimated Payment
$6,630.58/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 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.
488 University Avenue Unit 2910, 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.
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
Premium Pricing
At $1499/sqft, this property is priced above the Downtown Toronto average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Negotiation Opportunity
At 99 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.
Investment Perspective
Looking at this as an investment: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $6,246 (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.