$714,900 - 701 King Street Unit 1007, Downtown Toronto
Condo for Sale in Downtown Toronto
New — Listed 4 days agoNeighbourhood: Niagara
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- MLS Number
- C13858266
- Property Type
- Condo
- Status
- active
- Days on Site
- 4
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,000 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Taxes (2025)
- $3,092
- Maintenance Fees
- $1,035/mo
- Locker
- None
- Exposure
- South East
- Balcony
- None
- Listing Brokerage
- COLDWELL BANKER THE REAL ESTATE CENTRE
Welcome to Suite 1007 at The Summit, one of Toronto's most notable & enduring buildings in the downtown landscape! The Summit has stood the test of time when it comes to condo living, built in an era when buildings were designed with space, quality & longevity in mind. Nearly four decades later, that sentiment still rings true with maintenance fees of under $1.00/sqft., a reflection of a well-established & efficiently managed building. Step inside & you're immediately greeted by the charm & warmth of a home that has been lovingly owned & cared for by the same owner for 37 years. The custom-built media unit is an entertainer's dream & perfectly separates the living room from the kitchen (renovated, 2024), primary bathroom (renovated, 2024) & bedroom areas. The living room is one of the rarest in the downtown core, offering the homeowner a cozy wood-burning fireplace - a feature only available to similar suites from the 9th floor to the penthouse. There is a sense of character & comfort here that is increasingly difficult to find in today's newer, more compact condo spaces. Perfectly positioned at King & Bathurst, this is downtown Toronto living at its finest. With a Walk Score of 99, the location truly puts the best of the city right outside your door. The King West strip, Queen West, restaurants, cafés, nightlife, shopping & everyday conveniences are all within easy reach. Enjoy a morning coffee at Forno Culture, stop by Harriet's Rooftop for a meal / happy hour, & finish off your evening with a drink at the Wheat Sheaf! You're also just minutes from the Entertainment District, Rogers Centre, CN Tower, & waterfront. Beyond the nearby amenities, The Summit offers an impressive list of in-house amenities, including indoor & outdoor pools, fitness facilities, recreational spaces, squash courts, a hot tub, security & beautifully maintained grounds. The laundry room is on the same level as the unit. Don't miss this chance to upgrade your lifestyle & call suite 1007 home!
Estimate your monthly payments for this property
Estimated Payment
$3,667.81/mo
Includes CMHC insurance ($19,946)
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 Niagara
Niagara 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 Niagara
- •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
Niagara 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.
701 King Street Unit 1007, Downtown Toronto / Waterfront
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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 $715/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.
Just Listed - Act Strategically
This property hit the market within the last week. In Downtown Toronto'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. The $1035/month fees should cover building insurance, common elements, and reserve contributions.
About Niagara
I know Niagara 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: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,979 (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.