$4,000/mo - 8 Mercer Street Unit 405, Downtown Toronto
Condo for Rent in Downtown Toronto
Neighbourhood: Waterfront Communities C1
- MLS Number
- C13422288
- Property Type
- Condo
- Status
- active
- Days on Site
- 28
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,000 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- None
- Exposure
- South East
- Balcony
- Open
- Listing Brokerage
- REVEL REALTY INC.
Step into this rare L-shaped corner suite at 8 Mercer Street, offering 3 generous bedrooms and 2 full washrooms, a layout that barely ever hits the market. Flooded with natural light from its prime east-south exposure, the home delivers bright mornings and a warm afternoon glow throughout. The smart L-shaped floor plan gives you separation between living spaces and bedrooms, making it ideal for families, roommates, or anyone craving privacy in the heart of the Entertainment District. The modern kitchen features stainless steel appliances, stone counters, and ample storage. The unit is upgraded with blinds throughout, giving you both comfort and functionality from day one. Whether you're entertaining or simply unwinding, the open-concept living and dining area creates a seamless flow that makes the space feel even larger. Prime Entertainment District location, steps to TTC, restaurants, theatres, PATH, and more. 1 Parking Space can be Included for $200/Month.
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.
8 Mercer Street Unit 405, 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
Above Market Rent
At $4,000/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 28 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.
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.
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.