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    Toronto / Downtown / Queen West

    1201 - 505 Richmond St W

    For SaleWaterWorks Condos
    5.0
    $895,000
    1 Bed + 1
    1 Bath
    1 Parking
    700 - 799 SQFT
    36 Days on Strata
    Est Sell Timeframe
    22 Days

    Listing History

    Unit Highlights

    Property Type:
    Condo
    Maintenance Fees:
    $712/mth
    Taxes:
    $3,650 (2024)
    Cost Per Sqft:
    $1,120 - $1,279/sqft
    Locker:
    None
    Outdoor Space:
    Balcony
    Exposure:
    South
    Possession Date:
    30/60 Flexible
    Laundry:
    Ensuite
    Buyer's Market
    Balanced
    Seller's Market

    Maintenance Fees

    Included
    Air Conditioning
    Parking
    Building Maintenance
    Building Insurance
    Excluded
    Hydro
    Heat
    Water

    Utility Type

    Air Conditioning
    Central Air
    Heat Source
    Gas
    Heating
    Forced Air

    Room Dimensions

    Living
    Walkout To Balcony, South View, Open Concept
    11.81 x 10.7ft
    Kitchen
    Centre Island, Modern Kitchen
    10.5 x 10.17ft
    Prim Bdrm
    5 Piece Ensuite, Closet
    10.24 x 8.79ft

    About this Listing

    Own a Sought After Piece Of Toronto's History In The Waterworks Building. 1930's Utility Building Converted Into A Boutique Condominium Sits Conveniently Between King West And Queen West and Is Steps To Downtown's Finest Dining, Shopping and All other Amenities. This unit has it all, ++Parking++, City Views including the CN Tower and the Coolest Lobby Vibe in Town. Open Concept Floor plan with Glass Bedroom wall for Extra Light. Modern Kitchen with Integrated Cabinet Appliances, Centre Island, High Ceilings, Pot Lights and a Large Den with sliding door can serve as an Office Space or Small Bedroom. Private, Single & South Facing Balcony. Walk to Waterworks Foodhall and all things Toronto!

    Extras+PARKING+ A City View to die for ! Beautiful Roof Top Terrace And Garden. Surrounded By High End Restaurants, Night Life, Parks, Shopping And Entertainment.

    royal lepage signature realtyMLS® #C10429884

    Amenities

    Bike Storage
    Indoor Parking
    Concierge
    Party Room
    BBQs Allowed
    Gym Room

    Explore Neighbourhood

    10/10
    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
    Your bike's the trusty steed in this urban jungle — giddy up!

    Similar Listings

    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%

    Price Trends

    Maintenance Fees

    WaterWorks Condos vs The Queen West Area

    Building Trends At WaterWorks Condos

    Days on Strata

    Units at WaterWorks Condos spend an average of
    18
    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
    4.7
    YEARS before being sold again

    Property Value

    -7%
    Decrease in property value within the past twelve months

    Price Ranking

    12th
    Highest price per SQFT out of 47 condos in the Queen West area

    Sold Units

    11
    Units were Sold over the past twelve months

    Rented Units

    46
    Units were Rented over the past twelve months

    Best Value Rank

    WaterWorks Condos offers the
    ?
    best value out of 47 condos in the Queen West neighbourhood

    Appreciation Rank

    WaterWorks Condos has the
    ?
    highest ROI out of 47 condos in the Queen West neighbourhood

    Rental Yield

    WaterWorks Condos yields the
    ?
    highest rent prices out of 47 condos in the Queen West neighbourhood

    High Demand

    WaterWorks Condos is the
    ?
    most popular building out of 47 condos in the Queen West neighbourhood

    Transaction Insights at 505 Richmond Street W

    1 Bed1 Bed + Den2 Bed2 Bed + Den
    Price Range$650,000 - $690,000$740,000 - $790,000$845,000 - $1,750,000No Data
    Avg. Cost Per Sqft$1,119$1,090$1,398No Data
    Avg. Wait for Unit Availability110 Days329 Days71 Days408 Days
    Ratio of Units in Building39%9%50%5%

    Transactions vs Inventory

    Total number of units listed and sold in Queen West