$4,750/mo - 500 Queens Quay Unit 516E, Downtown Toronto
Condo for Rent in Downtown Toronto
75 days on market- MLS Number
- C13035956
- Property Type
- Condo
- Status
- active
- Days on Site
- 75
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,200 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- South West
- Balcony
- Juliette
- Listing Brokerage
- CHESTNUT PARK REAL ESTATE LIMITED
Welcome home to this fully renovated 2+1 bedroom, 2 bathroom condo situated in the heart of Toronto's Harbourfront neighbourhood. Featuring over 1300 square feet, this unit exceeds expectations in every way with an exceptionally functional floor plan and renovations throughout, including a fully upgraded chef's kitchen, new flooring and new appliances. Enter into a spacious foyer with double closet and easy access to a well-appointed 3-piece bathroom with ensuite laundry. The living/dining room is open concept with fabulous flow to the kitchen that features a built-in peninsula with seating and includes and a juliette balcony with south-facing lake views. The king-sized primary bedroom offers a spacious retreat complete with a 4-piece ensuite bathroom and walk-in closet while the second bedroom is also perfectly well appointed offering wonderful balance and tranquility. The den, currently used as an office, offers additional flexibility as a work from home space. 1 parking space and 1 locker are included. Enjoy all the best that this incredible neighbourhood has to offer with every amenity imaginable at your door including easy access to transit, restaurants, entertainment and shopping not to mention the incredible outdoor living and recreational opportunities that exist along the waterfront including the Martin Goodman Trail, Toronto Music Garden and more! Unit is also available partially furnished.
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.
500 Queens Quay Unit 516E, 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
Above Market Rent
At $4,750/mo, this is asking above the typical 3-bedroom rent of ~$3,500/mo in Downtown Toronto. That premium needs to be justified — newer finishes, included parking, a premium location, or utilities included. I'll help you assess whether it's worth it or whether there's room to negotiate.
Negotiation Opportunity
At 75 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.
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.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
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.