$3,638,000 - 741 Richmond Street, Downtown Toronto
Detached for Sale in Downtown Toronto
79 days on market- MLS Number
- C12942474
- Property Type
- Detached
- Status
- active
- Days on Site
- 79
- Bedrooms
- 4
- Bathrooms
- 5
- Square Feet
- 2,500 - 2,999 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Lot Size
- 2,275 sqft
- Listing Brokerage
- INTRALAND REALTY LTD.
An exceptional luxury residence offering a true sense of arrival, this striking three-storey detached home is a modern architectural statement in the heart of the city. Thoughtfully designed for both everyday living and elevated entertaining, the open-concept main floor features wide-plank hardwood flooring, soaring ceilings, and a custom floating steel-and-oak staircase that anchors the space as a sculptural focal point.The chef's kitchen is both refined and functional, showcasing a large centre island, premium integrated appliances, and a dramatic wall of floor-to-ceiling glass that creates a seamless connection to the outdoors.Upstairs, the private quarters offer a tranquil retreat. The primary suite is a standout, complete with a spa-inspired five-piece ensuite, a generous custom walk-in closet with integrated lighting, and peaceful, tree-lined views.Crowning the home is a spectacular rooftop terrace-an expansive private oasis featuring a hot tub and breathtaking, unobstructed views of the city skyline, including the iconic CN Tower.This is more than a home-it's a rare offering that delivers modern design, refined comfort, and an exceptional lifestyle in one of Toronto's most vibrant neighbourhoods.Property taxes not yet assessed.
Estimate your monthly payments for this property
Estimated Payment
$16,092.10/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.
741 Richmond Street, 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
Premium Pricing
At $1455/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.
Negotiation Opportunity
At 79 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.
Detached Home Advantages
Detached homes in Downtown Toronto are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Downtown Toronto. Good resale value as demand remains consistent.
Bathroom Count Matters
With 5 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
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 $15,158 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.