$23,000/mo - 500 Queens Quay Unit PH1001W, Downtown Toronto
Condo for Rent in Downtown Toronto
41 days on marketNeighbourhood: Waterfront Communities C1
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- MLS Number
- C13717278
- Property Type
- Condo
- Status
- active
- Days on Site
- 41
- Bedrooms
- 3
- Bathrooms
- 3
- Square Feet
- 3,750 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- South
- Balcony
- Terrace
- Listing Brokerage
- SOTHEBY'S INTERNATIONAL REALTY CANADA
Welcome to this one-of-a-kind penthouse unit, a recently renovated and fully furnished masterpiece offering a rare opportunity to experience luxurious waterfront living. Perched above the marina and island airport, this two-story, 3-bedroom home is a turnkey oasis designed for those who appreciate the finest things in life. With expansive floor-to-ceiling windows and soaring vaulted ceilings, the space is filled with natural light and panoramic views that stretch across the water. Every inch of this unit has been thoughtfully crafted with brand-new, high-end finishes, making it feel like your dream home come to life. Experience the new Chefs kitchen with top-of-the-line appliances, the spacious Primary suite with a one-of-a-kind view, and the two private balconies, complete with outdoor furniture. This unit comes fully equipped, down to the smallest detail. Building amenities include a great gym, 24 hr Concierge, and conference room and party room.
Estimate your monthly payments for this property
Estimated Payment
$118.00/mo
Includes CMHC insurance ($642)
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 PH1001W, 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 $23,000/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.
Market Position
At 41 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
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.
Larger Home Realities
At 3,750 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
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.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.