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109 - 500 Richmond Street W
Waterfront Communities C1, Toronto
$1,099,000
Rarely offered - a spacious two-storey townhouse located at one of downtown Toronto's most well-loved boutique buildings. Located in the heart of Queen West and the Fashion District, this bright, thoughtfully-designed two-bedroom, two-storey unit offers the best of downtown urban living in a quiet, elegant retreat. With direct to street access, Unit 109 offers 1,437 square feet of elevated living. The main floor greets you with heightened ceilings, an oversized living room with two distinct seating areas, a gas fireplace, and an expansive wall of built-in shelving. An effortless flow to a charming 231-square-foot enclosed terrace with gas and water hookups offers your own private outdoor retreat. The kitchen is equipped with a suite of stainless steel appliances, a large breakfast bar and walk-in pantry. The adjacent standalone dining room is a rarity providing ample room for large gatherings in its own distinct setting with oversized built-in storage, crown moulding and recessed lighting throughout. This room could easily be converted to a spacious third bedroom. Upstairs two generous bedrooms greet you along with nearby ensuite laundry. The primary fits a king-sized bed comfortably and leads to a walk-in custom closet and a renovated spa-like ensuite bathroom with oversized shower. The second bedroom with south views could easily double as an office or guest room, with a double closet. Ground floor street-access units in this building are rarely available. Steps to the vibrant neighbourhoods of Queen West, King West, the Financial & Entertainment Districts, with endless nearby restaurants, shops and cafes and transit at your doorstep. Whether you're looking for a city pied-à-terre or a full-time home, this impeccable two-storey home is a rare opportunity to own a true Toronto gem in this coveted neighbourhood.
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $5,625
- Property tax
- $461
- Heat allowance
- $150
- Condo fees, half counted
- $475
- Housing costs
- $6,712 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$207,000
gross annual household income
- Payment at 4%
- $4,625 / mo
- Cash down
- $219,800
Assumes no other monthly debts · 25-yr amortization
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