$505,000 - 5 Marine Parade Drive Unit 223, Liberty Village
Condo for Sale in Liberty Village
Popular ListingNeighbourhood: Mimico
- MLS Number
- W13474138
- Property Type
- Condo
- Status
- active
- Days on Site
- 13
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 600 sqft
- Neighbourhood
- Liberty Village / Parkdale / South Parkdale
- Locker
- Owned
- Exposure
- South East
- Balcony
- Open
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES HEAPS ESTRIN TEAM
Welcome to Unit 223 at 5 Marine Parade Drive, a standout residence in one of Humber Bay Shores' most sought-after landmark buildings. Perfectly positioned just steps from the lake, this suite offers an exceptional balance of nature and urban convenience, within a well-established waterfront community known for its scenic trails, green spaces, and everyday amenities. From the moment you step off the elevator, the suite's separated entryway sets it apart, creating a rare sense of privacy and calm before you enter the sun-drenched and beautifully proportioned living spaces. The unique and thoughtfully designed layout is both generous and highly functional, offering distinct areas for living, dining, and relaxation. Large windows invite an abundance of natural and direct sunlight, while the suite's orientation showcases peaceful courtyard views from the balcony, offering a level of privacy that is increasingly hard to find, along with a charming peek-a-boo glimpse of the lake. The living and dining areas are generous and flow seamlessly, making the space equally suited for work, quiet evenings at home, or hosting guests. The kitchen is designed with both practicality and style in mind, featuring ample storage and workspace, within a layout that feels open, yet defined. The bedroom is spacious and bright, with room for dressers in addition to the generously-sized closet. Every detail has been considered to maximize comfort, style, livability, and a sense of openness rarely found in one-bedroom suites. Residents enjoy a well-managed building, with a full suite of amenities designed to enhance daily life, and maintenance fees that include all utilities except internet. The building is also pet-friendly with no weight restrictions, an added benefit for animal lovers. Just steps to waterfront trails, parks, cafés, and local shops, unit 223 presents a unique opportunity to enjoy space, privacy, and community in one of Toronto's most desirable lakeside enclaves.
Estimate your monthly payments for this property
Estimated Payment
$2,590.91/mo
Includes CMHC insurance ($14,090)
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.
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.
5 Marine Parade Drive Unit 223, Liberty Village / Parkdale / South Parkdale
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Rental income estimator & ROI calculator
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
Fair Market Value
At $842/sqft, this property is priced in line with current Liberty Village 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.
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.
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.
Investment Perspective
Looking at this as an investment: Liberty Village properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,104 (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.