$1,099,900 - 500 Richmond Street Unit 101, Downtown Toronto
Condo for Sale in Downtown Toronto
Popular Listing- MLS Number
- C13224366
- Property Type
- Condo
- Status
- active
- Days on Site
- 14
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,200 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- South
- Balcony
- None
- Listing Brokerage
- CHESTNUT PARK REAL ESTATE LIMITED
Welcome to this beautiful 3 bedroom, 2 bathroom, 1,329 square foot condo townhome in one of Toronto's most dynamic and walkable neighbourhoods, moments from Queen West, King West, acclaimed dining, transit, entertainment, and everyday essentials. Extensively renovated with a refined modern aesthetic, this move-in-ready home seamlessly balances sophisticated design with effortless urban functionality. With neighbours on only one side and above, the home offers a rare sense of privacy seldom found within this building. The main living space is anchored by a beautiful custom stone feature wall with integrated floating shelves and a rare gas fireplace, creating an inviting yet elevated focal point. Outdoors, the redesigned patio was thoughtfully curated for both entertaining and tranquillity, featuring premium interlocking stone, lush cedar privacy planting, automated low-voltage landscape lighting, a gas connection for BBQ and a beautifully crafted wood canopy with ambient hanging lights for intimate evenings outdoors. In 2025, the home underwent an extensive interior transformation featuring premium 7" wide white oak hardwood flooring throughout, new baseboards, redesigned stairs and handrails, elegant 24"x24" tile in the foyer, kitchen, and powder room, as well as updated laundry room tile and new LG washer and dryer. Additional upgrades include all-new windows with 90-degree opening functionality for effortless cleaning, professional replacement of Kitec plumbing (excluding one short line in kitchen) with modern PEX piping, and a freshly painted interior completed in 2026. Perfectly positioned directly across from the newly opened YMCA with fitness facilities, pool, pickleball courts, family programming, and children's activities, the home is also steps to Waterworks Food Hall, recently revitalized St. Andrew's Playground, park, and dog park. A rare opportunity to experience elevated city living in one of Toronto's most coveted communities.
Estimate your monthly payments for this property
Estimated Payment
$4,865.23/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 Richmond Street Unit 101, Downtown Toronto / Waterfront
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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 $917/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.
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 $4,583 (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.