$559,000 - 887 Bay Street Unit #708, Downtown Toronto
Condo for Sale in Downtown Toronto
42 days on marketNeighbourhood: Bay Street Corridor
- MLS Number
- C13554738
- Property Type
- Condo
- Status
- active
- Days on Site
- 42
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 600 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- West
- Balcony
- Open
- Listing Brokerage
- HOMELIFE NEW WORLD REALTY INC.
Welcome to this beautifully updated 1-bedroom + den suite in the heart of downtown Toronto. Originally designed as a one-bedroom residence, the interior partition wall was removed to create a bright, spacious, loft-inspired open-concept layout, maximizing natural light and flexibility while offering potential for future reconfiguration, subject to buyer preferences and any applicable condominium requirements. (Note: The partition wall was removed by a previous owner prior to the Seller's 2016 purchase.) Offering 644 sq. ft. of functional living space, the suite features an exceptionally wide 21-ft living and dining area with rare unobstructed west-facing views overlooking Bay Street and green space, providing exceptional privacy, treetop views, and abundant afternoon sunshine. Extensively renovated throughout, the suite features fresh paint, new interior doors, upgraded lighting, brand-new blinds, and distinctive French Country-inspired artisan tile flooring. The spa-inspired bathroom features a frameless glass shower, American Standard toilet, Moen matte-black fixtures, quartz vanity, smart anti-fog LED mirror, and contemporary finishes. The modern kitchen offers quartz countertops and sleek wall-mounted cabinetry, while the original bedroom area includes a spacious walk-in closet. A separate den provides flexible space for a home office, study, dressing area, or additional storage. Parking and locker are included-a rare combination in downtown Toronto. Maintenance fees include heat, hydro, water, and air conditioning for lower monthly expenses. Ideally located steps to the University of Toronto, TMU, Queen's Park, subway stations, Eaton Centre, restaurants, shopping, and entertainment, this turnkey home combines generous living space, abundant natural light, exceptional storage, and an unbeatable location-an outstanding opportunity for professionals, first-time buyers, young couples, students, or investors.
Estimate your monthly payments for this property
Estimated Payment
$2,867.96/mo
Includes CMHC insurance ($15,596)
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 Bay Street Corridor
Bay Street Corridor 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 Bay Street Corridor
- •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
Bay Street Corridor 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.
887 Bay Street Unit #708, Downtown Toronto / Waterfront
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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 $932/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.
Market Position
At 42 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.
Efficient Living
At 600 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 Bay Street Corridor
I know Bay Street Corridor 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 $2,329 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.