$749,900 - 5 Hanna Avenue Unit 714, Downtown Toronto
Condo for Sale in Downtown Toronto
55 days on market- MLS Number
- C13029482
- Property Type
- Condo
- Status
- active
- Days on Site
- 55
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- None
- Exposure
- North East
- Balcony
- Open
- Listing Brokerage
- REAL BROKER ONTARIO LTD.
Rare, 2-storey 2 bedroom 775 sf loft with 1 parking at the prized Liberty Market Lofts. Curated wood design accents throughout the unit add warmth and zen feel - this property has the aesthetic appeal of what a loft should be. It's located on the quieter, less dense side of Liberty Village and it features floor-to-ceiling windows that let in abundant natural light and showcase beautiful sunsets over top of the protected heritage-designated buildings surrounding it. An excellent use of space greets you at the door with custom fit hallway closets with a thoughtful setback to widen the entryway. An updated bathroom (tiles, mirror, lights, toilet) sits on the right and is followed by ample space under the stairs for storage or a perfect spot for a work desk. The open concept kitchen features an updated subway tile backsplash, built-in dishwasher and granite countertops. A recessed 2nd bedroom gives room to relax listening to the record player. Upstairs primary bedroom allows for genuine separation, ideal for couples or anyone wanting a comfortable live-work setup, while still preserving a sense of openness and view. The generous walk-in closet, 2nd floor laundry (w/ new Whirlpool stacked washer/dryer) and updated bathroom (tiles, walls and toilet) complete the upstairs space. The building is exceptionally well-managed and has outstanding maintenance fees. Amenities include: 24 hour concierge, well-equipped gym, yoga studio and even a hard to find half basketball court. There are multiple executive meeting rooms, business centre, tool/utility room, lounge with a kitchen, wet bar and pool table. There is even an art gallery with rotating art installations. A 4900 sq. m. park is being built beside the building that this unit will overlook and cafes, multiple grocery stores, pubs, professional services are all walkable. GO train (Exhibition) and the future Ontario line is 200 metres away and BMO field is right there too. Enjoy the World Cup this summer from your doorstep!
Estimate your monthly payments for this property
Estimated Payment
$3,847.38/mo
Includes CMHC insurance ($20,922)
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.
5 Hanna Avenue Unit 714, Downtown Toronto / Waterfront
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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 $1071/sqft, this property is priced in line with current Downtown Toronto 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 55 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 700 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: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,125 (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.