$868,800 - 500 Richmond Street Unit Th103, Downtown Toronto
Condo for Sale in Downtown Toronto
New — Listed 6 days ago- MLS Number
- C12973798
- Property Type
- Condo
- Status
- active
- Days on Site
- 6
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,200 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- North
- Balcony
- Terrace
- Listing Brokerage
- Royal Lepage Real Estate Associates
Finally! Your chance to own one of the most coveted addresses in the Fashion District. Only 3 townhomes at Five Hundred Richmond have come to market in the past 3 years, and they all sold, even "in this market." They're that rare. Welcome to the Fashion District's best-kept secret: a perfect townhouse on the quiet side of the building, with a 400+ sq ft terrace that feels more backyard than condo. Private, sunny in the afternoon, shielded by a tall wall so the only thing you'll hear is the sound of your own grill. The main floor is a masterclass in what open-concept is supposed to feel like: soaring 9-foot ceilings, premium finishes, elegant pot lighting, and an ultra-wide layout that's versatile enough to reinvent your living space every year if the mood strikes. The primary bedroom features a fully organized, dream walk-in closet. The bathroom? Dual sinks, because you like your significant other and you'd like to keep it that way. Consider this step one to not having to download Hinge for the 16th time. The kitchen is equally serious: a walk-in pantry complete with a built-in safe... Granny's secret, ancestral soup recipe stays between you and the walls. Walker's paradise. Rider's paradise. Biker's paradise, with scores of 100, 100, and 92. You are in the absolute heart of it all. Every relevant landmark, restaurant or shop Downtown Toronto has to offer is a walk away. And when the day is finally done, some of the best coffee shops and hotel rooftop terraces in the city are right outside your door, waiting for you. Welcome home! Open House Saturday and Sunday 2-4pm
Estimate your monthly payments for this property
Estimated Payment
$4,457.39/mo
Includes CMHC insurance ($24,240)
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 Th103, 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
Competitive Pricing
At $724/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Just Listed - Act Strategically
This property hit the market within the last week. In Downtown Toronto's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.
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 $3,620 (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.