$2,400/mo - 543 Richmond Street Unit 1424, Downtown Toronto
Condo for Rent in Downtown Toronto
Neighbourhood: Waterfront Communities C1
- MLS Number
- C13616750
- Property Type
- Condo
- Status
- active
- Days on Site
- 26
- Bedrooms
- 2
- Bathrooms
- 1
- Square Feet
- 500 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- None
- Exposure
- West
- Balcony
- Open
- Listing Brokerage
- DREAM HOME REALTY INC.
***OCT 1 MOVE IN***Welcome to this modern and spacious 1+1 bedroom, 1 bathroom suite at 543 Richmond St W, ideally located at Richmond Street West and Portland Street in the heart of downtown Toronto. Thoughtfully designed for comfortable urban living, providing excellent natural light, perfect for professionals, or those working from home. Residents enjoy an exceptional collection of amenities including 24-hour concierge service, a state-of-the-art fitness centre, yoga studio, game room, theatre, study lounge, party room, outdoor swimming pool, and visitor parking. Situated in Toronto's vibrant Fashion District and just moments from the Entertainment District, Financial District, and Chinatown, this prime location offers an unmatched downtown lifestyle surrounded by trendy restaurants, cafés, bars, and boutique shops. Daily essentials are incredibly convenient with Loblaws located directly across the street, while the 501 streetcar provides quick access to Osgoode Station in approximately 10 minutes for seamless commuting across the city. Combining premium building amenities, a highly functional layout, and one of Toronto's most desirable and walkable neighborhoods, this residence offers an exceptional leasing opportunity for those seeking the very best of downtown living. Some photos may have been virtually staged. Furniture and décor shown are for illustration purposes only and do not represent the current condition of the property.
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.
543 Richmond Street Unit 1424, Downtown Toronto / Waterfront
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
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
Competitive Rent
At $2,400/mo, this is priced below the typical 2-bedroom rent of ~$2,900/mo in Downtown Toronto. Well-priced rentals move fast — worth acting on. That said, let's check what's driving the lower ask: landlord flexibility, lease term restrictions, or simply a motivated landlord.
Market Position
At 26 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.
Efficient Living
At 500 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 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.
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.