$999,000 - 500 Queens Quay Unit 318W, Downtown Toronto
Condo for Sale in Downtown Toronto
New — Listed 5 days agoNeighbourhood: Waterfront Communities C1
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- MLS Number
- C13856736
- Property Type
- Condo
- Status
- active
- Days on Site
- 5
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,200 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Taxes (2026)
- $4,830
- Maintenance Fees
- $1,290/mo
- Locker
- Owned
- Exposure
- South
- Balcony
- Open
- Listing Brokerage
- CHESTNUT PARK REAL ESTATE LIMITED
Welcome to Prestigious 500 Queens Quay West, Unit 318W. Spacious and elegantly updated, this two-bedroom unit features floor-to-ceiling windows and striking views from every vantage point. TWO amazing balconies: southern, with views of the lake, and northern, with views of the city and the perfect spot for your private BBQ area! Uniquely situated along Toronto's iconic waterfront, with incredible views of Lake Ontario and the spectacular Toronto skyline, this beautifully renovated unit combines refined living with an unbeatable location. Tasteful hardwood throughout, complemented by elegant ceramic tile in both renovated bathrooms, with the primary bathroom featuring the comfort of in-floor heating. The open-concept kitchen is ideal for cooking & entertaining and has been beautifully refreshed with Corian countertops, updated cabinet doors & lighting. Spend cool evenings enjoying & relaxing in the warmth of the gas fireplace (motor replaced in 2024) and taking in the views of the lake. Skillfully thought out & designed to maximize space and utility, custom California Closets storage systems complement all closets, newer lighting throughout & heat pumps replaced (7 yrs), making this unit truly remarkable. Residents of this prestigious building enjoy white-glove concierge service, a fitness centre, party and meeting rooms, visitor parking, and 24-hour security. Steps from the Harbourfront, vibrant restaurants, cafes, entertainment, parks, waterfront, and transit, both TTC & highways. A truly effortless urban lifestyle!
Estimate your monthly payments for this property
Estimated Payment
$5,125.39/mo
Includes CMHC insurance ($27,872)
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 Waterfront Communities C1
Waterfront Communities C1 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 Waterfront Communities C1
- •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
Waterfront Communities C1 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.
500 Queens Quay Unit 318W, 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
Fair Market Value
At $833/sqft, this property is priced in line with current Downtown Toronto 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 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 $1290/month fees should cover building insurance, common elements, and reserve contributions.
About Waterfront Communities C1
I know Waterfront Communities C1 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 $4,163 (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.