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    Toronto / Downtown / Grange Park

    5006 - 488 University Ave

    For RentThe Residences of 488 University Avenue
    $3,300/mth
    Price Cut: $3,500
    1 Bed + 1
    1 Bath
    0 Parking
    687 SQFT
    39 Days on Strata
    Est Lease Timeframe
    18 Days

    Listing History

    Unit Highlights

    Possession Date:
    August 14, 2024
    Lease Term:
    1 Year
    Property Type:
    Condo
    Utilities Included:
    No
    Outdoor Space:
    Balcony
    Furnished:
    Yes
    Exposure:
    East
    Locker:
    None
    Laundry:
    Ensuite
    Renter's Market
    Balanced
    Landlord's Market

    Utilities Included

    Rent Includes
    None
    Excluded
    Hydro
    Heat
    Air Conditioning
    Water

    Utility Type

    Air Conditioning
    Central Air
    Heat Source
    Electric
    Heating
    Heat Pump

    Room Dimensions

    Den
    Hardwood Floor, Sliding Doors, Separate Room
    6 x 7.61ft
    Kitchen
    Hardwood Floor, Built-in Appliances, Centre Island
    6 x 7.91ft
    Dining
    Hardwood Floor, Combined with Kitchen, East View
    11.81 x 7.91ft

    About this Listing

    Stunning lake and city views in world-class building. Prime University/Dundas Location! Direct Access To Subway, World Award Winning Landmark Bldg. Luxury $$$ Spent High-End Upgrade Finished Suite. 9 Ft floor To ceiling windows. Steps To U.Of T. Hospitals, TMU, Financial District, Eaton Centre, and Queens Park. Fully furnished with all levels of comfort and move-in ready. High-end built-in appliances and quartz countertops: large bathroom with Japanese smart toilet, soaker tub, spacious shower equipped with rainfall showerhead and side jets. Walk-in closet. High-end blinds with remote control in the Living Room, high-end curtains in the Master Bedroom. Large den setup as second bedroom. Hardwood floor throughout. 60 inch TV and fireplace. Fully furnished balcony area. Award-winning amenities: outdoor lounge/terrace area, indoor saltwater pool, techno gym, fitness and spinning studios, yoga and weights room, private event and dining room, spa service, private steam and sauna. 24 hour valet parking.

    strata real estateMLS® #C9251316

    Amenities

    Media Room
    Rooftop Deck
    Outdoor Pool
    Bike Storage
    Squash Court
    Games Room

    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 Listings

    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%

    Price Trends

    Maintenance Fees

    The Residences of 488 University Avenue vs The Grange Park Area

    Building Trends At The Residences of 488 University Avenue

    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
    5%
    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

    -14%
    Decrease in property value within the past twelve months

    Price Ranking

    2nd
    Highest price per SQFT out of 14 condos in the Grange Park area

    Sold Units

    6
    Units were Sold over the past twelve months

    Rented Units

    96
    Units were Rented over the past twelve months

    Best Value Rank

    The Residences of 488 University Avenue offers the
    ?
    best value out of 14 condos in the Grange Park neighbourhood

    Appreciation Rank

    The Residences of 488 University Avenue has the
    ?
    highest ROI out of 14 condos in the Grange Park neighbourhood

    Rental Yield

    The Residences of 488 University Avenue yields the
    ?
    highest rent prices out of 14 condos in the Grange Park neighbourhood

    High Demand

    The Residences of 488 University Avenue is the
    ?
    most popular building out of 14 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%

    Transactions vs Inventory

    Total number of units listed and leased in Grange Park