$3,000/mo - 488 University Avenue Unit 4301, Downtown Toronto
New Construction for Rent in Downtown Toronto
66 days on market- MLS Number
- C13075808
- Property Type
- New Construction
- Status
- active
- Days on Site
- 66
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 800 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- North
- Balcony
- Open
- Listing Brokerage
- CENTURY 21 ATRIA REALTY INC.
Situated in the iconic 488 University Avenue, this exceptional 2-bedroom, 2-bathroom residence on the 43rd floor offers a refined urban lifestyle in the heart of downtown Toronto. Thoughtfully designed, the suite delivers a bright and functional layout that maximizes both space and comfort, complemented by expansive floor-to-ceiling windows that capture stunning, unobstructed skyline views and fill the home with natural light throughout the day.The open-concept living and dining area creates an elegant yet practical setting, ideal for both everyday living and entertaining. The modern kitchen is seamlessly integrated into the space, offering a clean and efficient design suited for contemporary city life. Both bedrooms are generously sized, with the primary bedroom featuring its own ensuite bathroom, providing privacy and convenience. The second full bathroom is equally well-appointed, serving guests and the second bedroom with ease.Residents of this prestigious address benefit from unmatched access to Toronto's core amenities, including world-class hospitals, the financial district, top restaurants, transit, and cultural institutions-all just steps away. The building itself is known for its professional management and highly sought-after location, making it an ideal choice for end-users and investors alike.This residence represents a rare opportunity to enjoy elevated downtown living, combining comfort, functionality, and prestige in one of Toronto's most central and connected high-rise communities.
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.
488 University Avenue Unit 4301, Downtown Toronto / Waterfront
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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
Fairly Priced Rental
At $3,000/mo, this is in line with typical 2-bedroom rents in Downtown Toronto (~$2,900/mo). The rent itself may be firm, but there's often room to negotiate on lease terms — move-in date, appliance inclusions, or parking.
Negotiation Opportunity
At 66 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.
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.
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.
Let's Walk Through It Together
Photos can't tell you about traffic noise, natural light at different times of day, or how well the landlord maintains the property. When we view it together, I'll assess the condition of appliances, HVAC, and finishes — and flag anything that might become a headache. I'll also help you understand the lease terms before you sign anything.