$555,000 - 55 Ontario Street Unit 607, Cabbagetown
Condo for Sale in Cabbagetown
New — Listed 4 days agoNeighbourhood: Moss Park
- MLS Number
- C13513624
- Property Type
- Condo
- Status
- active
- Days on Site
- 4
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 500 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Locker
- Owned
- Exposure
- South
- Balcony
- Open
- Listing Brokerage
- BRAD J. LAMB REALTY 2016 INC.
Experience the best of downtown living in this thoughtfully designed 540 sq.ft. 1 bedroom condo, where style meets everyday convenience. The bright, open-concept layout extends seamlessly to a spacious 112 sq.ft. balcony complete with a gas BBQ hookup - perfect for morning coffee, evening cocktails, or effortless entertaining. The modern kitchen features a gas stove, while the spacious bathroom offers both comfort and style. Energy-efficient smart lighting in the principal rooms can be controlled from your mobile device, allowing you to adjust brightness and set timers with ease. Complete with 1 underground parking space and 1 storage locker, this home also offers outstanding building amenities. An example of some amenities residents enjoy include: a 24-hour gym, outdoor pool, and party room overlooking the pool. Ideally located just steps from St. Lawrence Market, TTC streetcars, restaurants, shopping, and with easy access to major highways, this is an exceptional opportunity for first-time buyers, investors, or professionals seeking the best of Toronto's vibrant downtown lifestyle.
Estimate your monthly payments for this property
Estimated Payment
$2,847.44/mo
Includes CMHC insurance ($15,485)
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 Moss Park
Moss Park 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 Moss Park
- •Convenient location in Regent Park / Cabbagetown / St. James Town
- •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
Moss Park 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.
55 Ontario Street Unit 607, Regent Park / Cabbagetown / St. James Town
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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 $1110/sqft, this property is priced in line with current Cabbagetown 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 Cabbagetown'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. 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 Moss Park
I know Moss Park 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: Cabbagetown properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,313 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.