$785,000 - 55 Wellesley Street Unit 803, Cabbagetown
Condo for Sale in Cabbagetown
126 days on market- MLS Number
- C12827040
- Property Type
- Condo
- Status
- active
- Days on Site
- 126
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,200 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Locker
- Exclusive
- Exposure
- North East
- Balcony
- Enclosed
- Listing Brokerage
- KELLER WILLIAMS ADVANTAGE REALTY
It's been nearly two years since a unit in this building has come available. Discover a rare opportunity to own a truly special condo in one of Toronto's most interesting boutique buildings. Units here seldom come to market making this offering exceptionally desirable. Spanning over 1,300 sq. ft, this spacious residence delivers the comfort and scale of a house with the ease of condo living. The thoughtfully designed layout features an eat-in kitchen ideal for everyday living and entertaining, complemented by two full bathrooms for added convenience. Hardwood flooring throughout, enhancing warmth and character of the home. Expansive windows flood the space with natural light, while a rare WOOD-BURINING FIREPLACE adds a cozy, timeless focal point. This "character home in the sky" also includes two underground parking spots and a locker. Located just steps from public transit, shops, cafes, restaurants. Everything you need is at your doorstep. Beautiful roof top terrace and surrounding grounds exclusive for residents.
Estimate your monthly payments for this property
Estimated Payment
$4,027.46/mo
Includes CMHC insurance ($21,902)
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 Regent Park / Cabbagetown / St. James Town
Regent Park / Cabbagetown / St. James Town 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 Regent Park / Cabbagetown / St. James Town
- •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
Regent Park / Cabbagetown / St. James Town 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 Wellesley Street Unit 803, Regent Park / Cabbagetown / St. James Town
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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
Competitive Pricing
At $654/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 126 days on site, this property has exceeded the typical selling timeline for Cabbagetown. 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.
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 $3,271 (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.