$4,500/mo - 1 Palace Pier Court Unit 602, Liberty Village
Condo for Rent in Liberty Village
41 days on marketNeighbourhood: Mimico
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- MLS Number
- W13717128
- Property Type
- Condo
- Status
- active
- Days on Site
- 41
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,200 sqft
- Neighbourhood
- Liberty Village / Parkdale / South Parkdale
- Locker
- Owned
- Exposure
- South East
- Balcony
- None
- Listing Brokerage
- AKARAT GROUP INC.
Experience the pinnacle of Canadian waterfront living at Palace Place, a symbol of unmatched prestige and luxury. This immaculately managed condominium residence is a beacon of grandeur that impresses at every turn. This Two (2) Bedrooms + Den apartment of 1,204 square feet of inviting living space comes with a mesmerizing city skyline and serene lake views serve as a testament to its unique charm. Strategically located near Lake Shore Blvd West & Palace Pier Crt, in the heart of Etobicoke's vibrant Mimico neighborhood. Palace Place offers a wealth of amenities to enhance your lifestyle - a state-of-the-art gym/exercise room, a refreshing pool, concierge and guest suites, complemented by the luxury of a sauna, the assurance of a security guard, and the convenience of an Enter Phone System. Immerse yourself in the essence of sophisticated living at Palace Place. For your convenience, the building comes with a private Shuttle Bus Service to multiple locations in Toronto. Photos are virtually staged.
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 602, Liberty Village / Parkdale / South Parkdale
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How this lease stacks up against the local rental market
Estimated Monthly Budget
Things to Confirm Before Signing
· Are utilities included, or separate?
· How many parking spots are included?
· Is the landlord open to a 1-year or 2-year lease?
· Are pets and small renovations (paint, hooks) allowed?
· When was the last rent increase, if there is a prior tenant?
Utility estimates are approximate and vary by season, habits, and what the landlord includes. Always confirm inclusions with the listing agent.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Above Market Rent
At $4,500/mo, this is asking above the typical 3-bedroom rent of ~$3,500/mo in Liberty Village. That premium needs to be justified — newer finishes, included parking, a premium location, or utilities included. I'll help you assess whether it's worth it or whether there's room to negotiate.
Market Position
At 41 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.
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.
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.
Lease Terms to Negotiate
Don't just focus on the monthly rent — the lease terms matter just as much. I always advise my rental clients to clarify: what's included (parking, storage, utilities), the lease length options, the landlord's policy on renewals, and whether small personalizations like painting are permitted. These details can make or break your experience over 12–24 months.