$539,900 - 1 Palace Pier Court Unit 2407, Liberty Village
Condo for Sale in Liberty Village
76 days on marketNeighbourhood: Mimico
- MLS Number
- W13027486
- Property Type
- Condo
- Status
- active
- Days on Site
- 76
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 800 sqft
- Neighbourhood
- Liberty Village / Parkdale / South Parkdale
- Locker
- Owned
- Exposure
- North West
- Balcony
- None
- Listing Brokerage
- Royal LePage Real Estate Associates
Welcome to Suite 2407 at Palace Place, one of Toronto's most prestigious waterfront residences along Lake Ontario. This spacious 833 sq.ft 1-bedroom suite offers 1 parking + 1 locker, a highly functional layout with separate living and kitchen areas. Featuring a generous bedroom with a large closet, a 4-piece bathroom, and ensuite laundry, this unit is filled with natural light from expansive windows throughout. With great bones and an efficient layout, this suite offers incredible potential to personalize and make your own. Living at Palace Place means enjoying a truly five-star, resort-style lifestyle with all-inclusive, white-glove services. Residents benefit from 24/7 gated security, valet parking, and elite concierge services, ensuring comfort and peace of mind at all times. Unmatched amenities include a private shuttle to Union Station, a pickleball court, two indoor golf driving ranges, a private putting green, a state-of-the-art fitness centre, and a solarium indoor pool with whirlpool and women's spa. Entertain and unwind with an on-site restaurant, or host guests in the spectacular 47th-floor party room complete with multimedia, games room, and a sun deck offering panoramic lake and city views. Enjoy outdoor living in the beautifully landscaped garden piazza with BBQs, plus the convenience of an on-site variety store and ATM. Even more impressive, the all-inclusive maintenance fees are among the lowest in the area, covering heat, hydro, water, and cable TV, with exclusive Rogers Ignite internet available for just $26/month. Complimentary Wi-Fi is also provided in select common areas. Experience the pinnacle of waterfront living in one of Etobicoke's most iconic luxury towers.
Estimate your monthly payments for this property
Estimated Payment
$2,769.97/mo
Includes CMHC insurance ($15,063)
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.
Waterfront Revival
Mimico is a revitalised waterfront neighbourhood in south Etobicoke that has transformed from a quiet residential enclave into a dynamic lakeside community. New condominium developments along the lakeshore complement the area's established tree-lined streets and village character. The Mimico GO Station and TTC streetcar provide strong transit options, while the waterfront trail offers scenic recreation.
Why Live in Mimico
- •Lake Ontario waterfront access and trail
- •Revitalised village atmosphere with new development
- •Mimico GO Station for fast downtown commuting
- •Mix of new condominiums and character homes
- •Growing restaurant and retail scene
Nearby Schools
Transit & Commuting
- •Mimico GO Station on the Lakeshore West line
- •TTC 501 Queen streetcar
- •Lakeshore West GO line to Union Station
- •Easy access to Gardiner Expressway
Parks & Amenities
- •Humber Bay Park
- •Mimico waterfront trail
- •Amos Waites Park
- •Mimico Centennial Library
- •Local shops along Royal York Road
Lifestyle & Community
Mimico offers a rejuvenated waterfront lifestyle with strong transit connections and a growing dining scene. Residents enjoy lakeside walks, waterfront cycling, and easy commuting to downtown Toronto.
1 Palace Pier Court Unit 2407, Liberty Village / Parkdale / South Parkdale
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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 $675/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 76 days on site, this property has exceeded the typical selling timeline for Liberty Village. 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.
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.
About Mimico
I know Mimico well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Liberty Village properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,250 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.