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Listed 8 days ago

714 - 505 Richmond Street W

Waterfront Communities C1, Toronto

$974,900

Condo Apartment |
2 | 2 | 0 | 1
About this home

Rare opportunity to own an exceptional residence in the iconic Waterworks Residences, where timeless heritage architecture meets sophisticated modern luxury. This beautifully appointed two-bedroom suite showcases elegant finishes, soaring 9-foot ceilings, and an abundance of natural light streaming through an impressive wall of floor-to-ceiling windows, creating a bright and inviting atmosphere throughout.Designed with both style and functionality in mind, the thoughtfully crafted open-concept layout flows effortlessly from room to room, maximizing both comfort and everyday living. The contemporary kitchen is a chef's dream, featuring integrated appliances, a generous centre island with ample workspace, and abundant counter space for cooking, entertaining, and gathering with family and friends. Step outside to your spacious private balcony-an ideal extension of your living space and the perfect setting to relax, unwind, or entertain while enjoying the vibrant downtown surroundings. Residents of Waterworks enjoy an unparalleled lifestyle with access to premium amenities, including a state-of-the-art YMCA fitness facility, spectacular rooftop amenities, and the renowned Waterworks Food Hall. Perfectly positioned in the heart of downtown Toronto, you're just steps from the boutiques, acclaimed restaurants, cafés, and nightlife of Queen West and King West, with the Financial District, transit, and countless urban conveniences only moments away. *Some Photos Have Been Virtually Staged*

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agent
Milad Momtaz Azad
(647) 510-8858
TypeCondo Apartment
StyleApartment
Approx. AgeNot available
Size800-899 sq. ft.
Maintenance Fees$733
LockerOwned
BalconyOpen
ExposureNorth
Parking TypeUnderground
Parking Spaces0
Parking FeaturesNone
Property Tax$4,389
mls© NumberC13609720
Listed ByUNION CAPITAL REALTY
Heat Included

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

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What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$4,990
Property tax
$366
Heat allowance
$150
Condo fees, half counted
$367
Housing costs
$5,872 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $194,980
25-yr amortization

Income needed

$181,000

gross annual household income

Payment at 4%
$4,103 / mo
Cash down
$194,980

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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