$775,000 - 57 St Joseph Street Unit 316, Downtown Toronto
Condo for Sale in Downtown Toronto
- MLS Number
- C13209504
- Property Type
- Condo
- Status
- active
- Days on Site
- 18
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- None
- Exposure
- West
- Balcony
- Terrace
- Listing Brokerage
- SOTHEBY'S INTERNATIONAL REALTY CANADA
Welcome to 1Thousand Bay Residences - a striking modern tower by Cresford in one of downtown Toronto's most connected and sought-after neighbourhoods. Located right in the heart of the Bay & Bloor corridor and directly on the University of Toronto campus, this address offers a unique blend of convenience, energy, and city living. From Yorkville shopping and Queen's Park to the Financial District and subway access just steps away, everything you need is at your doorstep. Suite 316 is a beautifully laid out 1-bedroom + den that offers both style and functionality. The open-concept design feels bright and spacious, with floor-to-ceiling windows and modern finishes throughout. The den is a great bonus space for a home office, study area, or occasional guest setup, while the rare two full bathrooms make the layout especially practical for everyday living or hosting visitors. The primary bedroom features a large walk-in closet and private ensuite, creating a comfortable retreat within the suite. One of the standout features, though, is the incredible private terrace - approximately 220 square feet of outdoor space that's perfect for entertaining, dining outside, or simply relaxing in the middle of the city. Residents of 1Thousand Bay enjoy an impressive collection of amenities, including a large fitness centre, rooftop outdoor pool and lounge with skyline views, 24-hour concierge, theatre room, billiards lounge, library, and guest suites. Whether you're looking for a stylish downtown home, a pied-à-terre, or an investment opportunity in a prime location, Suite 316 offers a rare combination of space, outdoor living, and convenience in the heart of Toronto.
Estimate your monthly payments for this property
Estimated Payment
$3,976.15/mo
Includes CMHC insurance ($21,623)
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.
57 St Joseph Street Unit 316, 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 $1107/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 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 700 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 $3,229 (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.