$550,000 - 38 Elm Street Unit 600, Downtown Toronto
New Construction for Sale in Downtown Toronto
Neighbourhood: Bay Street Corridor
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- MLS Number
- C13789624
- Property Type
- New Construction
- Status
- active
- Days on Site
- 21
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Taxes (2026)
- $3,060
- Maintenance Fees
- $910/mo
- Locker
- Exclusive
- Exposure
- North West
- Balcony
- None
- Listing Brokerage
- RE/MAX REALTY ENTERPRISES INC.
Welcome to Minto Plaza, where sophisticated design meets an exceptional downtown location. This beautifully renovated 781 sq. ft. executive one-bedroom suite offers a thoughtfully designed layout with approximately $150,000 in quality upgrades.The spacious king-size bedroom features a walk-in closet and beautifully appointed ensuite finished in terrazzo tile, with a wall-to-wall rain shower and recessed lighting. The custom kitchen showcases integrated cabinetry, a quartz waterfall backsplash and Bosch appliances, while wide-plank Scandinavian-style hardwood flooring and built-in storage add warmth, style and functionality throughout. A generous living and dining area and large windows complete this impressive downtown residence.Located on a quiet, tree-lined street full of restaurants and patios in the heart of Toronto, Minto Plaza is just steps from the subway, Eaton Centre, restaurants, shops, hospitals, universities and the Financial District.Residents enjoy an impressive selection of amenities including 24-hour concierge, indoor lap pool, gym, sauna, party room, billiards room and garden terrace. Locker included.Additional Features & Inclusions: Bosch refrigerator, integrated dishwasher, stove and ceramic cooktop; stacked washer and dryer, lighting with dimmers, custom built-in storage throughout. Renovation completed by licensed luxury contractor Condovate Interiors.Nothing to do but Move in and Enjoy!
Estimate your monthly payments for this property
Estimated Payment
$2,821.79/mo
Includes CMHC insurance ($15,345)
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 Bay Street Corridor
Bay Street Corridor 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 Bay Street Corridor
- •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
Bay Street Corridor 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.
38 Elm Street Unit 600, 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 $786/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.
Market Position
At 21 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.
Efficient Living
At 700 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 Bay Street Corridor
I know Bay Street Corridor 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 $2,292 (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.