$520,000 - 5 Marine Parade Drive Unit 223, Liberty Village
Condo for Sale in Liberty Village
64 days on market- MLS Number
- W13002144
- Property Type
- Condo
- Status
- active
- Days on Site
- 64
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 600 sqft
- Neighbourhood
- Liberty Village / Parkdale / South Parkdale
- Locker
- Owned
- Exposure
- South East
- Balcony
- Open
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES HEAPS ESTRIN TEAM
Welcome to Unit 223 at 5 Marine Parade Drive, a standout residence in one of Humber Bay Shores' most sought-after landmark buildings. Perfectly positioned just steps from the lake, this suite offers an exceptional balance of nature and urban convenience, within a well-established waterfront community known for its scenic trails, green spaces, and everyday amenities. From the moment you step off the elevator, the suite's separated entryway sets it apart, creating a rare sense of privacy and calm before you enter the sun-drenched and beautifully proportioned living spaces. The unique and thoughtfully designed layout is both generous and highly functional, offering distinct areas for living, dining, and relaxation. Large windows invite an abundance of natural and direct sunlight, while the suite's orientation showcases peaceful courtyard views from the balcony, offering a level of privacy that is increasingly hard to find, along with a charming peek-a-boo glimpse of the lake. The living and dining areas are generous and flow seamlessly, making the space equally suited for work, quiet evenings at home, or hosting guests. The kitchen is designed with both practicality and style in mind, featuring ample storage and workspace, within a layout that feels open, yet defined. The bedroom is spacious and bright, with room for dressers in addition to the generously-sized closet. Every detail has been considered to maximize comfort, style, livability, and a sense of openness rarely found in one-bedroom suites. Residents enjoy a well-managed building, with a full suite of amenities designed to enhance daily life, and maintenance fees that include all utilities except internet. The building is also pet-friendly with no weight restrictions, an added benefit for animal lovers. Just steps to waterfront trails, parks, cafés, and local shops, unit 223 presents a unique opportunity to enjoy space, privacy, and community in one of Toronto's most desirable lakeside enclaves.
Estimate your monthly payments for this property
Estimated Payment
$2,667.87/mo
Includes CMHC insurance ($14,508)
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 Liberty Village / Parkdale / South Parkdale
Liberty Village / Parkdale / South Parkdale 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 Liberty Village / Parkdale / South Parkdale
- •Convenient location in Liberty Village / Parkdale / South Parkdale
- •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
Liberty Village / Parkdale / South Parkdale 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 Marine Parade Drive Unit 223, Liberty Village / Parkdale / South Parkdale
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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 $867/sqft, this property is priced in line with current Liberty Village 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 64 days on site, this property has exceeded the typical selling timeline for Liberty Village. 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: Liberty Village properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,167 (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.