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    508 Wellington Street W

    Downtown Condos
    3for Sale
    1for Rent

    Building Details

    Property Type:
    Soft Loft
    Number of Storeys:
    11
    Number of Units:
    91
    Condo Completion:
    2014
    Condo Demand:
    High
    Unit Size Range:
    377 - 2,075 SQFT
    Unit Availability:
    Low
    Property Management:

    Listing History for Downtown Condos

    Receive listing updates for King West

    Amenities

    Security System
    Rooftop Deck
    Bike Storage
    Media Room
    Gym Room
    Concierge

    Maintenance Fees

    Included
    Water
    Excluded
    Hydro
    Heat
    Air Conditioning

    About 508 Wellington Street WDowntown Condos

    While this building name might be a little on the nose for some buyers, the creativity that went into these downtown Toronto condos belies the lacklustre name.

    Downtown Condos is like a chameleon of sorts: its shape-shifting abilities provide residents with as much flexibility as a building can possibly offer. Sweeny and Co. Architects Inc. understand the possibility of a single resident’s needs and tastes adapting over time.

    As a result, they created the condos at 508 Wellington Street West with this foresight in mind. For one, they ensured that the building was zoned for both commercial and residential functions. This way, residents can purchase personal residences and offices in the same building, with the possibility of combining them into one larger home in the future.

    Built in 2014, the Downtown Condos provides buyers with the option to combine multiple units at the time of purchase, or even later on. This is feasible thanks to Sweeny and Co.’s column system design, along with raised floors that sit above the plumbing. With no concrete load-bearing walls in sight, the walls that do exist can be removed, moved, or eliminated altogether.

    Together with parallax Investment Corp., Sweeny and Co. produced 91 units that span 11 storeys at the corner of Wellington Street West and Portland. Even the exterior involves a clever mix of colour and texture. Slate-hued brick, and glass make up the majority of the façade, while warm wood accents decorate the front entryway.

    The cozy building feels exclusive thanks to its modest size. The amenities, however, are anything but modest: the building boasts a party room, media room, and games room, as well as a rooftop terrace with barbecues, bicycle parking, stacked car parking, and a full gym. Oh, and did we mention there’s a concierge waiting to assist you as well?

    The Suites

    As previously mentioned, not only is there a range of suites available at the Downtown Condos, but also combining multiple units is entirely possible. This way, growing families can stay put years after purchasing a place here. An ideal option might be to buy two and rent one until the additional space becomes necessary. Price could be a sticking point for some, as units in this building are typically more expensive than most King West condos for sale.

    One of the larger units might even be sizeable enough for a family as well, as the largest homes span approximately 1,700 square feet. Alternatively, smaller units begin at about 400 square feet for a junior one bedroom. In total, there are about seven styles of condo to choose from in the building, from junior one bedroom to two bedrooms plus den, and everything in between.

    In terms of style, the units were originally blank slates for residents to decorate as they pleased. In the future, as units are resold, a fresh coat of paint will reset them back to their original states.

    All of the suites were designed in an open concept fashion, with hardwood flooring and large windows to allow ample natural sunlight to flow in. Many of the condos are also outfitted with French balconies, for those who can’t go without private outdoor space.

    The Neighbourhood

    While the Downtown Condos are just that — downtown, residents benefit from the building’s location on a tree-lined street. This way, residents can enjoy the serenity of a peaceful locale, or they can take a short walk and enjoy the vibrant King West neighbourhood — and as if that's not enough, the trendy Queen West neighbourhood is just next door.

    Homeowners also have access to an intimately sized park. Just across the street, Victoria Memorial Park is never too crowded, but still offers locals the chance to spend some time in the great outdoors. This park even has its own set of plaques from Heritage Toronto, describing its long-winded history.

    For those wondering how they will ever get things done, not to worry; a colossal Loblaws sits at the corner of Queen and Portland, removing any sense of a journey from the process of grocery shopping. Other things within reach include an LCBO at King and Spadina, Lee Valley Tools on King, and HomeSense on Spadina Avenue.

    Entertainment wise, King and Queen are ideal spots for shopping and gallery hopping. A slew of small contemporary art galleries can also be found in the Niagara neighbourhood, just west of Bathurst. For those who really want to live it up, a number of high-end spas can be found in the immediate area as well.

    Transportation

    Residents are well situated for travel within and outside of Toronto. Travelers can reach Union Station in about 15 minutes, from which they can catch VIA Rail trains, GO buses or trains, and the UP service to Pearson International Airport.

    The King Streetcar also lands passengers at St. Andrew Station, where one can transfer onto subway trains heading north or south on the Yonge-University-Spadina line. North-south routes include Spadina and Bathurst, which are both teeming with streetcars.

    Drivers can access the Gardiner Expressway in just minutes, via Spadina Avenue. From here, they can drive east toward the Don Valley Parkway, or west to the 427. For zipping around the immediate area, Adelaide and Richmond are both fast-paced one-way streets that will come in handy.

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    Explore Neighbourhood

    9/10
    Walkability
    Congratulations, you're the mayor of Walksville! Everything's at your doorstep.
    10/10
    Transit
    Meet the heartbeat of the city — transit so smooth, you’ll never miss a beat.
    7/10
    Bikeability
    The bike lane starts to feel like a second home.

    Similar lofts

    Demographics

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

    Population
    24,225
    Average Individual Income
    $66,367
    Average Household Size
    3 persons
    Average Age
    0
    Average Household Income
    $109,098
    Dominant Housing Type
    High Rise Apartment
    Population By Age
    0 - 14
    13%
    15 - 19
    1%
    20 - 34
    25%
    35 - 49
    19%
    50 - 64
    19%
    65+
    19%
    Household Income
    $0 - $30,000
    47%
    $30,000+
    23%
    $60,000+
    14%
    $90,000+
    9%
    $125,000+
    5%
    Housing Types & Tenancy
    High Rise Apartment
    36%
    Detached
    33%
    Semi Detached
    21%
    Low Rise Apartment
    4%
    Duplex
    3%
    Marital Status
    Commute
    Languages (Primary Language)
    Other
    71%
    Mandarin
    14%
    Cantonese
    9%
    Tamil
    2%
    Arabic
    1%
    Tagalog
    1%
    Spanish
    1%
    Korean
    1%
    Education
    University and Above
    43%
    High School
    21%
    College
    15%
    None
    13%
    University Below Batchelor
    3%
    Apprenticeship
    2%
    Major Field of Study
    Business Management
    25%
    Architecture & Engineering
    18%
    Health & Related Fields
    11%
    Social Sciences
    10%
    Math & Computer Sciences
    9%
    Humanities
    6%
    Physical Sciences
    5%
    Education
    4%
    Visual & Performing Arts
    3%
    Personal, Protective & Transportation Services
    2%

    Maintenance Fees

    Downtown Condos vs The King West Area

    Days on Strata

    Units at Downtown Condos spend an average of
    7
    Days on Strata
    based on recent sales

    List vs Selling Price

    On average, these lofts sell for
    4%
    below
    the list price.

    Offer Competition

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

    Turnover of Units

    On average, each unit is owned for
    6.9
    YEARS before being sold again

    Property Value

    -11%
    Decrease in property value within the past twelve months

    Price Ranking

    61st
    Highest price per SQFT out of 101 condos in the King West area

    Sold Units

    2
    Units were Sold over the past twelve months

    Rented Units

    12
    Units were Rented over the past twelve months

    Best Value Rank

    Downtown Condos offers the
    ?
    best value out of 101 condos in the King West neighbourhood

    Appreciation Rank

    Downtown Condos has the
    ?
    highest ROI out of 101 condos in the King West neighbourhood

    Rental Yield

    Downtown Condos yields the
    ?
    highest rent prices out of 101 condos in the King West neighbourhood

    High Demand

    Downtown Condos is the
    ?
    most popular building out of 101 condos in the King West neighbourhood

    Transaction Insights at 508 Wellington Street W

    Studio1 Bed1 Bed + Den2 Bed2 Bed + Den3 Bed + Den
    Price RangeNo Data$475,000No DataNo Data$995,000No Data
    Avg. Cost Per SqftNo Data$904No DataNo Data$954No Data
    Avg. Wait for Unit AvailabilityNo Data80 Days913 DaysNo Data482 Days1327 Days
    Ratio of Units in Building4%74%5%7%10%3%

    Unit Sales vs Inventory

    Total number of units listed and sold in King West