$1,295,000 - 500 Queens Quay Unit 516E, Downtown Toronto
Condo for Sale in Downtown Toronto
53 days on market- MLS Number
- C13035954
- Property Type
- Condo
- Status
- active
- Days on Site
- 53
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,200 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- South West
- Balcony
- Juliette
- Listing Brokerage
- CHESTNUT PARK REAL ESTATE LIMITED
Welcome home to this fully renovated 2+1 bedroom, 2 bathroom condo situated in the heart of Toronto's Harbourfront neighbourhood. Featuring over 1300 square feet, this unit exceeds expectations in every way with an exceptionally functional floor plan and renovations throughout, including a fully upgraded chef's kitchen, new flooring and new appliances. Enter into a spacious foyer with double closet and easy access to a well-appointed 3-piece bathroom with ensuite laundry. The living/dining room is open concept with fabulous flow to the kitchen that features a built-in peninsula with seating and includes and a juliette balcony with south-facing lake views. The king-sized primary bedroom offers a spacious retreat complete with a 4-piece ensuite bathroom and walk-in closet while the second bedroom is also perfectly well appointed offering wonderful balance and tranquility. The den, currently used as an office, offers additional flexibility as a work from home space that can easily be transformed into a 3rd bedroom to suit your needs. 1 parking space and 1 locker are included. Enjoy all the best that this incredible neighbourhood has to offer with every amenity imaginable at your door including easy access to transit, restaurants, entertainment and shopping not to mention the incredible outdoor living and recreational opportunities that exist along the waterfront including the Martin Goodman Trail, Toronto Music Garden and more!
Estimate your monthly payments for this property
Estimated Payment
$5,728.22/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.
500 Queens Quay Unit 516E, 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
Fair Market Value
At $1079/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 53 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 $5,396 (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.