$565,000 - 5 Hanna Avenue Unit 729, Downtown Toronto
Condo for Sale in Downtown Toronto
41 days on market- MLS Number
- C13090748
- Property Type
- Condo
- Status
- active
- Days on Site
- 41
- Bedrooms
- 1
- Bathrooms
- 2
- Square Feet
- 500 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- East
- Balcony
- Open
- Listing Brokerage
- Royal LePage Real Estate Services Ltd., Brokerage
Stepping into this two floor sub-penthouse loft is like a breath of fresh air: light, airy with a vibrant Parisian edge. Front foyer lit with premium black can fixtures & features handy niche tucked under the staircase for a dresser & catchall. Hang your keys on the hook and your coat in the closet behind the two grand custom wood doors washed in Farrow & Ball's famed 'Babouche' yellow with reclaimed hardware from The Door Store. Main floor powder room is a boon when entertaining, dressed with warm brick-coloured tiles. Well-laid-out kitchen w/generous pot drawers, built-in appl, slab granite backsplash appeals for both chef dinners at home & morning coffee rituals. Dining rm allows for a large table that can function for both dinners w/friends & working from home. French grey herringbone floors lead to soaring double-height living rm w/17' windows, an ideal gallery space to showcase your art, lit by a subtle oblong white linen pendant from Elte Mkt on dimmer. The space transforms at golden hour just in time for a drink on the terrace. Patio doors open to the balcony which offers a private space to grow your summer herbs & catch shimmering lake views over the Toronto Islands. Upstairs the second-floor lofted suite greets you w/French grey herringbone floors, coffered ceilings in Farrow & Ball 'Skylight', imported Finnish Design reading lights, an efficient built-in California Closet & a private ensuite bath. Lux ensuite features quality lighting, bath w/shower & laundry. Liberty Market Lofts is a rare premium low-rise architectural concrete structure. Spacious lobby, 24-hr concierge services, art gallery & garden. Large landings, 3 elevators & wide hallways contribute to generous flow. Amenities incl party rm, gym & yoga studio. Lots of visitor parking at grade level. Liberty Village offers the best of downtown living in a walkable neighbourhood. Highlights incl: Brodflour Bakery, Aloette Go, Balzac's Coffee & Local Public Eatery. Walk to Exhibition GO & the lake.
Estimate your monthly payments for this property
Estimated Payment
$2,898.74/mo
Includes CMHC insurance ($15,764)
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 729, 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 $1130/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.
Market Position
At 41 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
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.
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 $2,354 (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.