$1,050,000 - 543 Richmond Street Unit 741, Downtown Toronto
Condo for Sale in Downtown Toronto
- MLS Number
- C13166082
- Property Type
- Condo
- Status
- active
- Days on Site
- 18
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 800 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- North West
- Balcony
- Open
- Listing Brokerage
- RE/MAX REALTY ENTERPRISES INC.
This Remarkable 3 Bed 2 Bath Corner Unit with 2 Parking & 2 Lockers is Unique in the Building & Just Waiting for You to Make It Your New Home. Yes, 2 side by side spots. When parking spots go for $80K each the value of this unit is evident !! The opulent finishes, sleek appliances and bright airy vibe of a corner unit make this one stand out. Resort-style amenities include a 24-hour concierge, state-of-the-art fitness centre, a stunning outdoor pool with an expansive sun deck and much more. Steps from the endless delights and hustle of King & Queen Streets, a tranquil retreat awaits at The Residences on Portland. A wealth of elevated amenities offers plenty of reasons to stay home and savour your personal urban oasis. Over 18,000 square feet of ground retail floor is at your disposal whenever you need it. Just a few minutes away, you'll find more than a dozen of Toronto's hottest nightclubs, rooftops and live venues from Fort York to The Drake to Rogers and Scotiabank Centres. If gastronomical delights inspire you, you'll enjoy scoring a table for two at one of the city's hottest restaurants that surround you here. Dine on King, indulge on Queen and then find your way home. In the Fashion District, steps from the Entertainment District, but one step removed from the bustle of King and Queen Streets, the best of both worlds awaits at 543 Richmond. Live in and celebrate one of Toronto's most diverse neighborhoods, a shining example of urban industry, growth and accessible employment. Toronto's downtown is a local and national economic hub. With more than a third of the city's jobs located within walking or biking distance your commute couldn't be more convenient. Whether it's enjoying incredible nights out on the town or nestling for a quiet evening you are covered. Complete with everything you need to relax and unwind, 543 Richmond will elevate your living experiences inside and out. Do Not Miss Out on This One. Luxurious Value Awaits.
Estimate your monthly payments for this property
Estimated Payment
$4,644.50/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.
543 Richmond Street Unit 741, 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
Premium Pricing
At $1313/sqft, this property is priced above the Downtown Toronto average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Market Position
At 18 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.
Efficient Living
At 800 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.
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 $4,375 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.