$1,049,000 - 500 Richmond Street Unit TH 115, Downtown Toronto
Condo for Sale in Downtown Toronto
- MLS Number
- C13211512
- Property Type
- Condo
- Status
- active
- Days on Site
- 20
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,000 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- North
- Balcony
- Terrace
- Listing Brokerage
- FOREST HILL REAL ESTATE INC.
Welcome to an exceptional condo townhouse tucked quietly within one of the Fashion District's most sought-after residences. Offering the rare combination of downtown convenience and private outdoor living, this beautifully appointed home features an incredible terrace-style backyard retreat with a custom deck, built-in illuminated bar, integrated planters, and additional storage - a truly unique space for entertaining, relaxing, or enjoying summer evenings in complete privacy .Inside, the thoughtfully designed open-concept main level showcases soaring 9-foot ceilings, elegant pot lighting, premium finishes, and an expansive layout that feels both stylish and functional. The stunning kitchen is complemented by a walk-in pantry for exceptional storage and everyday convenience. Upstairs, the spacious primary suite offers a dream walk-in closet with custom organizers and spa-inspired ensuite with brand new vanity. A gorgeous built-in bookcase on the second-floor hallway adds warmth, character, and functionality rarely found in condo living. Complete with one parking space and one locker, this home is perfectly positioned in the heart of Downtown Toronto with unbeatable walk, transit, and bike access. World-class dining, shopping, cafés, nightlife, hotel rooftops, and every major city convenience are just steps away - yet this residence offers a peaceful, tucked-away feel that is hard to find in the core. A rare opportunity to enjoy sophisticated urban living with the comfort and privacy of a true townhouse.
Estimate your monthly payments for this property
Estimated Payment
$4,640.08/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 TH 115, 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 $1049/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 20 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.
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 $4,371 (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.