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    Toronto / Queen West

    1222 - 3 Parking - 505 Richmond St W

    $1,450,0002 bds2 ba3 pk786 sqft
    For SaleWaterWorks Condos
    5.0
    36 Days on Strata
    Est Sell Timeframe:
    17 Days
    $1,450,000
    Price Increase: $1,350,000
    2 Beds
    2 Bath
    3 Parking
    786 SQFT

    Listing History

    Details

    Property Type:

    Condo

    Maintenance Fees:

    $937/mth

    Taxes:

    $5,522 (2024)

    Cost Per Sqft:

    $1,845/sqft

    Outdoor Space:

    Terrace

    Locker:

    Owned

    Exposure:

    South

    Possession Date:

    To Be Determined

    Laundry:

    Main

    Amenities

    Indoor Parking
    BBQs Allowed
    Party Room
    Bike Storage
    Rooftop Deck
    Gym
    Concierge

    About this Listing

    Discover the charm of 505 Richmond Street West, Toronto a vibrant hub in the heart of the city! Nestled in the historic Fashion District, this location offers a perfect blend of modern living and cultural heritage. With its proximity to trendy shops, world-class dining, and lively nightlife, it's the ideal spot for urban explorers. Whether you're looking for a stylish residence or a dynamic workspace, 505 Richmond Street West is where convenience meets sophistication. Experience the pulse of Toronto like never before!

    ExtrasTHREE parking, one locker cage, and one locker room, all electric light fixtures, all window coverings, built-in stove; cooktop; hood fan; fridge; dishwasher, and microwave and island. 3 ev rough in parking, 1 locker cage, 1 locker room. Please note that BBQ and water bibs are only provided for units on floor 10 and above.

    marquis real estate corporationMLS® #C12020143

    Fees & Utilities

    Maintenance Fees

    Included in Fees
    Parking
    Building Maintenance
    Building Insurance
    Not Included
    Hydro
    Heat
    Air Conditioning
    Water

    Utility Type

    Air Conditioning

    Central Air

    Heat Source

    No Data

    Heating

    Fan Coil

    Room Dimensions

    Kitchen

    Centre Island, Built-in Appliances, Built-in Shelves

    12.14 x 11.81ft

    Living

    Walkout To Terrace, South View

    15.26 x 13.26ft

    Primary

    5 Piece Ensuite, Built-in Closet, South View

    8.04 x 10.99ft

    2nd Bedroom

    Large Window, Closet, South View

    9.02 x 13.94ft
    Buyer's Market
    Balanced
    Seller's Market

    Similar Listings

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    10/10
    Walkability
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    10/10
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    7/10
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    Demographics

    Based on the dissemination area as defined by Statistics Canada. A dissemination area contains, on average, approximately 200 – 400 households.

    Population
    18,483
    Average Individual Income
    $71,628
    Average Household Size
    3 persons
    Average Age
    42
    Average Household Income
    $108,396
    Dominant Housing Type
    High Rise Apartment
    Population By Age
    0 - 14
    14%
    15 - 19
    1%
    20 - 34
    23%
    35 - 49
    20%
    50 - 64
    20%
    65+
    19%
    Household Income
    $0 - $30,000
    45%
    $30,000+
    23%
    $60,000+
    15%
    $90,000+
    10%
    $125,000+
    5%
    Housing Types & Tenancy
    High Rise Apartment
    43%
    Semi Detached
    25%
    Detached
    24%
    Low Rise Apartment
    3%
    Duplex
    2%
    Marital Status
    Commute
    Languages (Primary Language)
    Other
    72%
    Mandarin
    13%
    Cantonese
    9%
    Tagalog
    2%
    Arabic
    1%
    Spanish
    1%
    Urdu
    1%
    Korean
    1%
    Education
    University and Above
    43%
    High School
    21%
    College
    15%
    None
    12%
    University Below Batchelor
    3%
    Apprenticeship
    2%
    Major Field of Study
    Business Management
    25%
    Architecture & Engineering
    17%
    Social Sciences
    12%
    Health & Related Fields
    10%
    Math & Computer Sciences
    8%
    Humanities
    6%
    Physical Sciences
    5%
    Education
    5%
    Visual & Performing Arts
    3%
    Personal, Protective & Transportation Services
    2%

    Building Trends At WaterWorks Condos

    Days on Strata

    Units at WaterWorks Condos spend an average of
    17
    Days on Strata
    based on recent sales

    List vs Selling Price

    On average, these condos sell for
    2%
    below
    the list price.

    Offer Competition

    Condos in this building have a
    LOW
    chance of receiving
    Multiple Offers
    compared to other buildings in Queen West

    Turnover of Units

    On average, each unit is owned for
    4.9
    YEARS before being sold again

    Property Value

    -5%
    Decrease in property value within the past twelve months

    Price Ranking

    2nd
    Highest price per SQFT out of 52 condos in the Queen West area

    Sold Units

    12
    Units were Sold over the past twelve months

    Rented Units

    49
    Units were Rented over the past twelve months

    Best Value Rank

    WaterWorks Condos offers the
    ?
    best value out of 52 condos in the Queen West neighbourhood

    Appreciation Rank

    WaterWorks Condos has the
    ?
    highest ROI out of 52 condos in the Queen West neighbourhood

    Rental Yield

    WaterWorks Condos yields the
    ?
    highest rent prices out of 52 condos in the Queen West neighbourhood

    High Demand

    WaterWorks Condos is the
    ?
    most popular building out of 52 condos in the Queen West neighbourhood

    Market Insights

    Transaction Insights at WaterWorks Condos

    1 Bed1 Bed + Den2 Bed2 Bed + Den
    Price Range$650,000 - $895,000$740,000$845,000 - $1,750,000No Data
    Avg. Cost Per Sqft$1,173$1,116$1,395No Data
    Avg. Wait for Unit Availability108 Days329 Days73 Days408 Days
    Ratio of Units in Building39%9%50%4%

    Market Inventory

    Total number of units listed and sold in Queen West