$609,000 - 801 Bay Street Unit 1603, Downtown Toronto
Condo for Sale in Downtown Toronto
89 days on market- MLS Number
- C12976460
- Property Type
- Condo
- Status
- active
- Days on Site
- 89
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- None
- Exposure
- South
- Balcony
- Open
- Listing Brokerage
- EXP REALTY
Welcome to this BEAUTIFULLY UPDATED 1+DEN, 2-BATHROOM SUITE, 1 PARKING in the heart of downtown Toronto at 801 Bay Street: The Royalton. This bright and well-designed residence features EXTENSIVE RECENT UPGRADES THROUGHOUT, offering a stylish and move-in-ready opportunity in one of the city's most convenient locations. The unit has been PROFESSIONALLY UPDATED FROM TOP TO BOTTOM, including NEW FLOORING THROUGHOUT, FRESH PAINT ON ALL WALLS AND DOORS, AND REFINISHED KITCHEN CABINETRY WITH BRAND-NEW CABINET DOORS AND HARDWARE. The kitchen is equipped with UPDATED STAINLESS STEEL APPLIANCES (approx. 2 years old) including a newer stove, creating a modern and functional cooking space. Both bathrooms have also been refreshed with NEW TILE, VANITY, AND QUARTZ COUNTERTOP FINISHES, adding a clean and contemporary feel. The VERSATILE DEN offers the perfect space for a home office, study area, or guest space, while the well-planned layout with TWO FULL BATHROOMS provides excellent flexibility for end-users or investors alike. Located in a WELL-MANAGED BUILDING WITH STRONG MANAGEMENT, residents enjoy unbeatable convenience with TTC AT YOUR DOORSTEP, streetcar stops at the corner, and JUST A 3-MINUTE WALK TO COLLEGE SUBWAY STATION. Everyday essentials are steps away including Farm Boy, grocery stores, banks, restaurants, a food court, and Ontario government services located directly across the street. Surrounded by many of Toronto's most important institutions including University of Toronto, Toronto Metropolitan University, and several major hospitals, this is an ideal location for professionals, students, or investors seeking strong rental demand. A RARE OPPORTUNITY TO OWN A FULLY UPDATED SUITE IN ONE OF DOWNTOWN TORONTO'S MOST CONNECTED AND WALKABLE NEIGHBOURHOODS.
Estimate your monthly payments for this property
Estimated Payment
$3,124.49/mo
Includes CMHC insurance ($16,991)
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 Downtown Toronto / Waterfront
Downtown Toronto / Waterfront 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 Downtown Toronto / Waterfront
- •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
Downtown Toronto / Waterfront 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.
801 Bay Street Unit 1603, 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
Fair Market Value
At $870/sqft, this property is priced in line with current Downtown Toronto 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.
Negotiation Opportunity
At 89 days on site, this property has exceeded the typical selling timeline for Downtown Toronto. 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.
Efficient Living
At 700 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.
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 $2,538 (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.