$878,000 - 280 Simcoe Street Unit 1003, Downtown Toronto
Condo for Sale in Downtown Toronto
New — Listed 7 days agoNeighbourhood: Kensington-Chinatown
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- MLS Number
- C13842640
- Property Type
- Condo
- Status
- active
- Days on Site
- 7
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,400 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Taxes (2026)
- $4,512
- Maintenance Fees
- $1,184/mo
- Locker
- None
- Exposure
- West
- Balcony
- None
- Listing Brokerage
- RE/MAX ABOUTOWNE REALTY CORP.
One Park Lane - where classic Toronto luxury meets unmatched space and serenity. Designed at the height of the city's iconic 80's condo era, this sun filled west facing 2 bed, 2 bath condominium offers the kind of generous layout you simply can't find today. Enjoy an oversized primary suite with walk in closet, an eat in kitchen, separate dining room, and a living room anchored by a rare wood burning fireplace. Steps to the Financial District, UHN hospitals, transit, and everything downtown. Resort style amenities include an indoor pool, sauna, gym, billiards room, party room, squash court, ping pong room and a rooftop terrace with BBQs and skyline views. A true classic in the heart of the city.
Estimate your monthly payments for this property
Estimated Payment
$4,504.60/mo
Includes CMHC insurance ($24,496)
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 Kensington-Chinatown
Kensington-Chinatown 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 Kensington-Chinatown
- •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
Kensington-Chinatown 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.
280 Simcoe Street Unit 1003, 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 $627/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.
Just Listed - Act Strategically
This property hit the market within the last week. In Downtown Toronto's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.
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. The $1184/month fees should cover building insurance, common elements, and reserve contributions.
About Kensington-Chinatown
I know Kensington-Chinatown 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: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,658 (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.