$538,000 - 508 Wellington Street Unit 401, Downtown Toronto
Condo for Sale in Downtown Toronto
Popular Listing- MLS Number
- C13228052
- Property Type
- Condo
- Status
- active
- Days on Site
- 12
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 500 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- South
- Balcony
- Juliette
- Listing Brokerage
- BOSLEY REAL ESTATE LTD.
Some addresses put you in the city. Others put you at the center of it. Welcome to 508 Wellington, a beautifully furnished loft-style junior one-bedroom in one of Toronto's most coveted boutique buildings. Soaring ceilings and oversized windows create an airy, light-filled space, while the thoughtfully designed layout makes everyday living feel effortless. Step outside and discover why King West remains one of the city's most vibrant neighborhoods. Morning coffee from your favorite café, dinner reservations you'll actually look forward to, and some of Toronto's best restaurants, cocktail bars, and entertainment venues are all just moments from your door. Professionals will appreciate the easy access to Toronto's Financial District, legal corridor, and growing tech hub, making commuting a choice rather than a necessity. Stylish, sophisticated, and perfectly located, this is downtown living for those who want the best of the city right outside their front door.
Estimate your monthly payments for this property
Estimated Payment
$2,760.22/mo
Includes CMHC insurance ($15,010)
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.
508 Wellington Street Unit 401, 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 $1076/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.
Efficient Living
At 500 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: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,242 (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.