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    505 Richmond Street W

    WaterWorks Condos
    1for Sale
    7for Rent

    Building Details

    Property Type:
    Condo
    Number of Storeys:
    13
    Number of Units:
    299
    Condo Completion:
    2020
    Condo Demand:
    High
    Unit Size Range:
    400 - 2,398 SQFT
    Unit Availability:
    Medium
    Property Management:
    No Data

    Listing History for WaterWorks Condos

    Receive listing updates for Queen West

    Amenities

    BBQs Allowed
    Rooftop Deck
    Gym Room
    Party Room
    Bike Storage
    Concierge

    Maintenance Fees

    Included
    Heat
    Air Conditioning
    Excluded
    Hydro
    Water

    About 505 Richmond Street WWaterWorks Condos

    WaterWorks Condos is a Toronto condo located at 505 Richmond Street W in the Queen West neighbourhood. The condo was completed in 2020 and features 299 units over 13 storeys. Toronto condo for sale here range from 400 square feet, up to 2398 square feet.

    This condo has an excellent Walk Score of 100 and a high demand ranking, based on Strata.ca’s analytics. Maintenance fees are $0.77 per-square-foot, which is lower than the neighbourhood average of $0.86 per-square-foot.

    The Suites

    The average cost per-square-foot for units at 505 Richmond Street W is $1,104, based on the past 12 months of sales, and units tend to sell within 17 days of being listed. 38 units have been rented in the previous 12 months, and 12 units have been sold. Suites often sell for -2.14% below the listing price and have a low chance of receiving multiple offers.

    The Neighbourhood

    Living here means you’re just a 3-minute walk from Java House, Arepa Café TO and I Love Sushi, making it easy to dazzle your taste buds without much effort. If you’ve come to Queen West for the coffee, then you’re in the right place — as both Aroma Espresso Bar, Fahrenheit Coffee and CACAO 70 Eatery are just steps away.

    Grocery pick-ups are made easy thanks to Winstons Grocery, Loblaws and Harrington Fine Foods within a 6-minute walk.

    WaterWorks Condos is a great choice for residents who are money conscious — with banks like BMO Bank of Montreal nearby.

    This condo is also situated within minutes of green spaces like St. Andrew's Market and Playground, St. Andrew's Off Leash Dog Park and Alex Wilson Parkette.

    Enhance your personal style while living in the Queen West neighbourhood by visiting Shoppes on Queen West, Beam.city and Chinatown Centre.

    Attractions like Graffiti Alley, The Richmond and Moniker Gallery are also nearby. CineCycle is just a short drive away for movie nights.

    Enjoy the convenience of 505 Richmond Street W being 11 minutes away from ALPHA Alternative Junior School, Downtown Vocal Music Academy of Toronto and St. Mary Catholic Elementary School making school pick-up a breeze! This location is a great choice for families who are seeking top-notch educational institutions like E F High School Year, Oasis Alternative Secondary School and Apex Academy Online.

    Transportation

    With a 100 walk score, public transit users can reach the nearest light transit stop at Richmond St w at Spadina Ave in just minutes. Those who live in the area can easily drive to Osgoode, just 2 minutes from the building.

    Curious about similar condos in the area? Check out 500 Richmond Street W, 2 Augusta Avenue and 50 Camden Street — all within walking distance.

    WaterWorks Condos Reviews

    Kenan Yousef
    October 17 2024
    Strata Agent
    The WaterWorks is a modern building with a lot of charm and history. It is one of those buildings with an ambience, and you feel it as soon as you walk in through the lobby. Some of the things I like about the building: - The quality of finishes in the building is top-tier - The maintenance fees are low @0.72 PSFT - The building is directly connected to the WaterWorks food hall and a YMCA to which residents get access to - Most units have great views as long as you aren’t looking into the courtyard, which isn’t ideal - I am a massive fan of the building terrace because it has views of the entire city - Not all units have balconies, but for the ones that do have them, the balconies are great size balconies - Elevators are relatively quick in the building (There are three elevators for 288 units across 14 floors) As far as the negatives go, there aren’t too many, but some of the things to take into consideration: - Some of the layouts aren’t the greatest for the price tag of the building (Especially the smaller one-bedroom units) - Storage can also be an issue for most units - The YMCA isn’t ready for residents to use as of yet This building is a good consideration if you are looking into downtown condos, especially around the King West area.
    1

    Listings For Sale

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    7

    Listings For Rent

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    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 condos

    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%

    Maintenance Fees

    WaterWorks Condos vs The Queen West Area

    Days on Strata

    Units at WaterWorks Condos spend an average of
    17
    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

    -10%
    Decrease in property value within the past twelve months

    Price Ranking

    9th
    Highest price per SQFT out of 47 condos in the Queen West area

    Sold Units

    12
    Units were Sold over the past twelve months

    Rented Units

    38
    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$1,113$1,391No Data
    Avg. Wait for Unit Availability120 Days329 Days77 Days408 Days
    Ratio of Units in Building39%9%49%5%

    Unit Sales vs Inventory

    Total number of units listed and sold in Queen West