$525,000 - 4978 Yonge Street Unit 501, Downtown Toronto
Condo for Sale in Downtown Toronto
- MLS Number
- C12752814
- Property Type
- Condo
- Status
- active
- Days on Market
- 1
- Bedrooms
- 2
- Bathrooms
- 1
- Square Feet
- 600 sqft
- City
- Downtown Toronto
Location, Location, Location! Luxury Menkes Ultima Towers in the heart of North York. This 695 Sq Ft Unit Features Hardwood Floors, Upgraded Energy-Efficient Appliances, Upgraded Kitchen With Granite Counters, A Large Private Balcony, Parking And A Locker. Direct underground access to Sheppard & North York Centre Subway Stations. Easy Access To The 401. Close to shopping, entertainment and restaurants, all within walking distance. This unit comes with one parking and one locker.
Discover Toronto C07
Toronto C07 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 Toronto C07
- •Convenient location in Toronto C07
- •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
Toronto C07 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.
4978 Yonge Street Unit 501, Toronto C07
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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 25+ years of GTA real estate experience
Fair Market Value
At $875/sqft, this property is priced in line with current Toronto C07 market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Just Listed - Act Strategically
This property hit the market within the last week. In Toronto C07'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. We'll want to verify the monthly fees and what they include.
Efficient Living
At 600 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.
Investment Perspective
Looking at this as an investment: Toronto C07 properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,188 (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.