$700,000 - 71 Simcoe Street Unit 1002, Downtown Toronto
Condo for Sale in Downtown Toronto
102 days on market- MLS Number
- C12852226
- Property Type
- Condo
- Status
- active
- Days on Site
- 102
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,000 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Exclusive
- Exposure
- West
- Balcony
- None
- Listing Brokerage
- HOMELIFE LANDMARK REALTY INC.
Wrapped in the charm of King & University, this suite sits in the heart of the city with a Walk Score of 100, directly across from the timeless beauty of Roy Thomson Hall-Symphony Place at its most poetic. Tucked within a classic boutique building, this one-bedroom plus den feels like a quiet retreat above the rhythm of the Entertainment District, shared with only a handful of neighbours on the same floor.The home opens into a spacious layout where calm and comfort meet. The primary bedroom features a serene 5-piece ensuite with a jacuzzi-your own private sanctuary-while a separate powder room welcomes guests with ease. The custom kitchen, rich with storage and character, includes a charming pass-through window perfect for sharing late-night snacks, morning coffees, or a glass of wine as music drifts in from the city below.An exclusive parking space sits beside an oversized private locker room, offering rare convenience in the downtown core. Steps from St. Andrew Station, theatres, restaurants, and the PATH, this is a place where the city's energy surrounds you, yet your home remains a peaceful escape.
Estimate your monthly payments for this property
Estimated Payment
$3,591.36/mo
Includes CMHC insurance ($19,530)
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.
71 Simcoe Street Unit 1002, 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 $700/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.
Negotiation Opportunity
At 102 days on site, this property has exceeded the typical selling timeline for Downtown Toronto. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
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 $2,917 (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.