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    488 University Avenue

    The Residences of 488 University Avenue
    8for Sale
    18for Rent

    Building Details

    Property Type:
    Condo
    Number of Storeys:
    55
    Number of Units:
    453
    Condo Completion:
    2017
    Condo Demand:
    Medium
    Unit Size Range:
    544 - 1,699 SQFT
    Unit Availability:
    Low
    Property Management:

    Listing History for The Residences of 488 University Avenue

    Receive listing updates for Grange Park

    Amenities

    Media Room
    Party Room
    Concierge
    Lap Pool
    Squash Court
    Games Room

    Maintenance Fees

    Included
    Water
    Excluded
    Hydro
    Heat
    Air Conditioning

    About 488 University AvenueThe Residences of 488 University Avenue

    Once the site of an office building, 480 University Avenue was repurposed to serve as the foundation for The Residences of 488 University Avenue. Rising to 55-storeys above a stunning glass podium, this building is certain to be a fixture of the Grange Park neighbourhood for decades to come.

    This property provides residents with many modern amenities: outdoor pool, indoor pool, hot tub, spa, full fitness centre, Sky Club lounge, shared rooftop patio, visitor lounge, parking garage, and more.

    Given its central location and wealth of amenities — Toronto condos for sale in this building are a great choice for students and faculty of Ryerson and U of T, young professionals, and couples who are seeking a new condo with convenient TTC service nearby and quick access to the best of what Toronto has to offer.

    The Suites

    Condos at 488 University Avenue are modern and stylish, ranging in size from 544 square feet for a 1 bedroom, to 1640 for the largest 3 bedroom suite; there are a variety of floor plan and exposures for 1 bedroom and 2 bedroom units, so residents have some selection when it comes to layout.

    These downtown Toronto condos boast executive features: designer pre-engineered hardwood floors, 10 foot ceilings, floor to ceiling windows, European inspired custom cabinets, stainless steel appliances, high-end countertops and backsplashes, soaker tubs in the bathroom, and all units have a private terrace.

    For those who love to entertain, there is an exclusive restaurant and bar on site, which is certain to impress your friends and family.

    The Neighbourhood

    The Grange Park neighbourhood is named after the park on Beverley and McCaul Street — a quaint green space with a playground, dog park, and plenty of tree-shrouded benches. This central location is near hospitals, universities, the Eaton Centre, and just a short subway ride from major attractions in the Entertainment District.

    Caffeine addicts will have no trouble getting their fix in this area — The Residences of 488 University Avenue is next door to Avenue Cafe + Bistro, and if that isn’t enough, stroll along Dundas Street and you’ll encounter The Library Specialty Coffee, Crafted Bean Coffee, Java Joe's and many others.

    With a condo at 488 University Avenue you’ll never be short on entertainment; you can walk to the Eaton Centre and shop the day way, enjoy a drink in a pub on Dundas like the Village Idiot Pub which is just minutes away. To the east there’s concert venues such as Massey Hall and the Phoenix Concert Theatre. And sports fans are only a short trip from Scotiabank Arena and the Rogers Centre.

    If you’re too lazy to cook there’s Cafe Plenty around the corner — plus Gallery Sushi, Provo FoodBar, AGO Bistro, and so many more.

    Transportation

    488 University Avenue has a 99 Walk Score, perfect for residents who prefer to run errands without a vehicle or public transit. For those who do require TTC service, there are streetcars on Dundas, buses on University, and St Patrick Stations is 2 minutes away for subway lines.

    Drivers can reach the Don Valley Parkway by travelling north on University, and then east on Bloor to the Danforth on ramp. For the Gardiner Expressway, head south on University to York Street for quick access.

    Reviews for The Residences of 488 University Avenue

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    8

    Listings For Sale

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    18

    Listings For Rent

    Interested in receiving new listings for rent?

    488 UNIVERSITY Ave W, unit 2412 for rent
    $2,870/mth
    Price Cut: $50 (Dec 16)
    488 university ave wGrange ParkUnit 2412
    1 Bed + 11 Bath600 - 699 SQFT0 Parking
    Available Oct 21, 2024
    488 University Ave, unit 3212 for rent
    488 university aveGrange Park
    1 Bed + 11 Bath700 - 799 SQFT0 Parking
    Available Jan 1, 2025
    488 University Ave, unit 3811 for rent
    $3,200/mth
    488 university aveGrange ParkUnit 3811
    1 Bed + 11 Bath674 SQFT0 Parking
    Available Dec 2, 2024
    488 University Ave, unit 2815 for rent
    $3,250/mth
    488 university aveGrange ParkUnit 2815
    1 Bed + 11 Bath700 - 799 SQFT0 Parking
    Available Feb 15,2025
    488 University Ave N, unit 2701 for rent
    $3,350/mth
    Price Cut: $100 (Dec 13)
    488 university ave nGrange ParkUnit 2701
    2 Beds2 Baths800 - 899 SQFT0 Parking
    Available To Be Determined
    488 University Ave, unit 4405 for rent
    488 university aveGrange Park
    2 Beds2 Baths800 SQFT0 Parking
    Available Dec/Jan Flexible
    488 University Ave, unit 4612 for rent
    $3,700/mth
    488 university aveGrange ParkUnit 4612
    1 Bed + 11 Bath600 - 699 SQFT1 Parking
    Available Dec 2, 2024
    488 University Ave, unit 2408 for rent
    $3,770/mth
    488 university aveGrange ParkUnit 2408
    2 Beds2 Baths841 SQFT0 Parking
    Available Dec 27, 2024
    488 University Ave, unit 5307 for rent
    $4,200/mth
    488 university aveGrange ParkUnit 5307
    2 Beds2 Baths900 - 999 SQFT1 Parking
    Available Immediately
    488 University Ave N, unit 2507 for rent
    $4,300/mth
    Price Cut: $200 (Nov 24)
    488 university ave nGrange ParkUnit 2507
    2 Beds + 12 Baths900 - 999 SQFT0 Parking
    Available As Soon As Possible
    488 University Ave, unit 3210 for rent
    488 university aveGrange Park
    2 Beds + 12 Baths1000 - 1199 SQFT0 Parking
    Available Dec 6, 2024
    488 University Ave, unit 4902 for rent
    488 university aveGrange Park
    2 Beds + 12 Baths1000 - 1199 SQFT0 Parking
    Available Oct 23, 2024
    488 University Ave, unit 2502 for rent
    $4,450/mth
    Price Cut: $100 (Dec 12)
    488 university aveGrange ParkUnit 2502
    3 Beds2 Baths1042 SQFT1 Parking
    Available Nov 30, 2024
    488 University Ave, unit 2302 for rent
    $4,500/mth
    488 university aveGrange ParkUnit 2302
    3 Beds2 Baths1062 SQFT0 Parking
    Available Immediately
    488 University Ave, unit 4107 for rent
    $4,500/mth
    Price Cut: $100 (Dec 5)
    488 university aveGrange ParkUnit 4107
    2 Beds + 12 Baths986 SQFT1 Parking
    Available Nov 18, 2024
    488 University Ave, unit 3110 for rent
    $4,800/mth
    488 university aveGrange ParkUnit 3110
    2 Beds + 12 Baths1075 SQFT1 Parking
    Available Jan 15, 2025
    488 University Ave, unit 2516 for rent
    $4,999/mth
    488 university aveGrange ParkUnit 2516
    3 Beds + 12 Baths1104 SQFT0 Parking
    Available Dec 15, 2024
    488 University Ave, unit 3402 for rent
    $5,500/mth
    488 university aveGrange ParkUnit 3402
    3 Beds2 Baths1042 SQFT0 Parking
    Available Immediately

    Explore Grange Park

    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 condos

    Demographics

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

    Population
    9,011
    Average Individual Income
    $64,908
    Average Household Size
    3 persons
    Average Age
    41
    Average Household Income
    $107,712
    Dominant Housing Type
    High Rise Apartment
    Population By Age
    0 - 14
    13%
    15 - 19
    1%
    20 - 34
    30%
    35 - 49
    20%
    50 - 64
    18%
    65+
    15%
    Household Income
    $0 - $30,000
    44%
    $30,000+
    25%
    $60,000+
    15%
    $90,000+
    10%
    $125,000+
    4%
    Housing Types & Tenancy
    High Rise Apartment
    44%
    Detached
    27%
    Semi Detached
    20%
    Low Rise Apartment
    4%
    Duplex
    3%
    Marital Status
    Commute
    Languages (Primary Language)
    Other
    75%
    Mandarin
    12%
    Cantonese
    7%
    Tagalog
    2%
    Telugu
    1%
    Spanish
    1%
    Hindi
    1%
    Urdu
    1%
    Education
    University and Above
    42%
    High School
    22%
    College
    15%
    None
    13%
    Apprenticeship
    2%
    University Below Batchelor
    2%
    Major Field of Study
    Business Management
    28%
    Architecture & Engineering
    18%
    Social Sciences
    12%
    Health & Related Fields
    10%
    Math & Computer Sciences
    9%
    Humanities
    5%
    Physical Sciences
    4%
    Education
    4%
    Personal, Protective & Transportation Services
    3%
    Visual & Performing Arts
    2%

    Maintenance Fees

    The Residences of 488 University Avenue vs The Grange Park Area

    Days on Strata

    Units at The Residences of 488 University Avenue spend an average of
    39
    Days on Strata
    based on recent sales

    List vs Selling Price

    On average, these condos sell for
    6%
    below
    the list price.

    Offer Competition

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

    Turnover of Units

    On average, each unit is owned for
    5.8
    YEARS before being sold again

    Property Value

    -15%
    Decrease in property value within the past twelve months

    Price Ranking

    2nd
    Highest price per SQFT out of 16 condos in the Grange Park area

    Sold Units

    6
    Units were Sold over the past twelve months

    Rented Units

    105
    Units were Rented over the past twelve months

    Best Value Rank

    The Residences of 488 University Avenue offers the
    ?
    best value out of 16 condos in the Grange Park neighbourhood

    Appreciation Rank

    The Residences of 488 University Avenue has the
    ?
    highest ROI out of 16 condos in the Grange Park neighbourhood

    Rental Yield

    The Residences of 488 University Avenue yields the
    ?
    highest rent prices out of 16 condos in the Grange Park neighbourhood

    High Demand

    The Residences of 488 University Avenue is the
    ?
    most popular building out of 16 condos in the Grange Park neighbourhood

    Transaction Insights at 488 University Avenue

    1 Bed1 Bed + Den2 Bed2 Bed + Den3 Bed3 Bed + Den
    Price RangeNo Data$840,000$929,000 - $978,000No Data$1,418,988$1,475,000
    Avg. Cost Per SqftNo Data$1,280$1,318No Data$1,282$1,346
    Avg. Wait for Unit Availability258 Days80 Days71 Days83 Days156 Days172 Days
    Ratio of Units in Building8%34%28%18%8%8%

    Unit Sales vs Inventory

    Total number of units listed and sold in Grange Park