Salehian.com 647-325-5000

505 Richmond Street W 424

Waterfront Communities C1, Toronto, M5V 0P4 · More in this building

$849,000

Reduced $31,000 from $880,000

Photo 1 of 38Photo 2 of 38Photo 3 of 38Photo 4 of 38Photo 5 of 38Photo 6 of 38Photo 7 of 38Photo 8 of 38Photo 9 of 38Photo 10 of 38Photo 11 of 38Photo 12 of 38Photo 13 of 38Photo 14 of 38Photo 15 of 38Photo 16 of 38Photo 17 of 38Photo 18 of 38Photo 19 of 38Photo 20 of 38Photo 21 of 38Photo 22 of 38Photo 23 of 38Photo 24 of 38Photo 25 of 38Photo 26 of 38Photo 27 of 38Photo 28 of 38Photo 29 of 38Photo 30 of 38Photo 31 of 38Photo 32 of 38Photo 33 of 38Photo 34 of 38Photo 35 of 38Photo 36 of 38Photo 37 of 38Photo 38 of 38
  • 2 bedrooms
  • 2 bathrooms
  • 1 parking
  • 700-799 sq ft

Listed 22 days ago · MLS® C13834028

About this home

Exceptional Loft Living at The Waterworks! This uber-cool suite is at one of King West's most coveted addresses. Suite 424 offers a rare combination of architectural character, sophisticated design, and an enviable downtown lifestyle. This bright two-bedroom, two full-bathroom suite comes with parking and a locker. One of only two floors in the building, with soaring 10-foot ceilings, creating an impressive sense of volume and natural light. The highly efficient layout maximizes every square foot, with a seamless flow ideal for both everyday living and entertaining. The sophisticated kitchen features premium European appliances and a generous centre island. The primary suite offers two closets, including a walk-in, and a luxurious five-piece spa-inspired ensuite with signature Waterworks fixtures, a deep soaker tub, and a separate walk-in shower with a rain showerhead. Custom blackout blinds and sleek display shelving add comfort and style. A large south-facing balcony overlooks the landscaped courtyard and cityscape, while the newly redesigned St. Andrew's Playground Park enhances the setting. Residents enjoy a brand-new YMCA within the building and the vibrant Waterworks Food Hall, offering an exciting selection of cuisines made with fresh, local ingredients. World-class shopping, dining, entertainment, and transit are all at your doorstep. Recognized with the 2025 Toronto Urban Design Award in conjunction with St. Andrew's Playground Park, Waterworks is a landmark address celebrated for its architecture and community impact. This meticulously maintained, move-in-ready suite offers elevated loft living in the heart of King West. Sophisticated, stylish, and exceptionally located-an extraordinary opportunity at The Waterworks.

Details

Type
Condo Apartment
Style
Apartment
Size
700-799 sq ft
Basement
None
Garage
Underground
Kitchens
1
Property tax
$4,220 (2025)
Maintenance fee
$759/month
Neighbourhood
Waterfront Communities C1
Municipality
Toronto C01
Price per sq ft
$1,133 (22% above condo apartments in Waterfront Communities C1, $926)
Fee per sq ft
$1.01/month (Toronto median $0.92)

Interior

Bedrooms
2 above ground
Bathrooms
1 × 4-piece (main), 1 × 4-piece (main)
Rooms
5 above ground
Family room or den
No
Fireplace
No
Laundry
Ensuite
Features
Built-In Oven

Heating, cooling and services

Heating
Forced Air, Gas
Air conditioning
Central Air

Building and exterior

Style
Apartment
Exterior
Brick
Outdoor
Built-In-BBQ, Landscaped, Lighting

Parking

Garage spaces
1
Total parking
1

Condo

Building
Waterworks Condos
Monthly fee
$759
Fee includes
Heat Included, CAC Included, Common Elements Included, Building Insurance Included
Locker
Owned (level Level D)
Balcony
Open
Exposure
West
View
City, Downtown, Park/Greenbelt, Trees/Woods
Pets
Yes-with Restrictions
Security
Carbon Monoxide Detectors, Concierge/Security, Heat Detector, Smoke Detector
Property manager
ICC Property Management 416-366-7125

More

Possession
TBA
Nearby
Arts Centre, Electric Car Charger, Hospital, Library, Park, Place Of Worship
Cross street
Portland St & Richmond St W

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Very walkable

  • 🚇 Osgoode Subway17 min walk
  • 🚇 St. Andrew Subway18 min walk
  • 🚆 Toronto Union Station GO1.5 km

Within a 10-minute walk: 22 grocery stores, 452 cafés and restaurants, 19 parks, 22 pharmacies. Nearest grocery: Fresh Picked Fresh Produce & Flowers (100 m). Nearest park: St. Andrew's Playground (100 m).

Schools nearby

Elementary

  • ALPHA Alternative Junior School3 min walk
  • Ogden Junior Public School
    EQAO: Gr 6 reading 77%, math 53%    7 min walk
  • St. Mary Catholic School Catholic
    EQAO: Gr 6 reading 100%, math 38%    7 min walk
  • Ryerson Community School
    EQAO: Gr 6 reading 65%, math 26%    8 min walk

Secondary

  • Oasis Alternative Secondary School3 min walk
  • Downtown Vocal Music Academy of Toronto Private8 min walk
  • Heydon Park Secondary School
    EQAO: Gr 9 math 8%    14 min walk

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area M5V

Owners / renters
42% / 58%
Median household income
$91,000
Average age
35
Children under 15
6%
Homes
0% detached, 97% high-rise
Commute by transit
23%
Population
59,912

Languages spoken most at home besides English: Mandarin 3.7%, Spanish 1.5%, Yue (Cantonese) 1%, Hindi 1%.

Flood and conservation No mapped hazard

Not inside a mapped flood plain or regulated area.

Screening maps only. Ask the conservation authority for a property inquiry before relying on this.

Safety

Major crime per resident in Wellington Place (2025): 31% above the Toronto average, down 8% from the year before.

  • Assault52% above average
  • Break and enter55% above average
  • Auto theft57% below average
  • Robberyabout average
  • Theft from vehiclesabout average
  • Shootings30% above average

Crime Severity Index for Toronto police: 60 vs 57 for Ontario (2025).

Police-reported figures for the whole neighbourhood, not this street. Rates use the area’s resident population.

Development nearby 43 active

  • 523 KING ST W · 300 m
    Plan of Condominium · Under Review · applied 2025
    Draft Plan of Standard Condominium for 439 units.
    Application details
  • 445 ADELAIDE ST W · 150 m
    Official Plan / Zoning By-law Amendment · Appeal Received · applied 2025
    Zoning By-law Amendment for a 17-storey (59.65m including mechanical penthouse) hotel containing 144 suites.
    Application details
  • 71 PORTLAND ST · 400 m
    Site Plan · Under Review · applied 2024
    Proposed mixed-use building containing 1,058 units, 23-storey and 27-storey towers atop a nine-storey base building.
    Application details
  • 71 PORTLAND ST · 400 m
    Site Plan · Under Review · applied 2024
    Proposed 40-storey, 123 metre, mixed-use building containing 413 residential units.
    Application details
  • 8 CAMDEN ST · 200 m
    Site Plan · Under Review · applied 2023
    Site Plan Application to permit a 19-storey mixed use building with retail space on the ground floor and 200 residential units above.
    Application details
  • 47 CAMDEN ST · 100 m
    Site Plan · Under Review · applied 2023
    Site plan control resubmission for a 18-storey (57.85m including mechanical penthouse) mixed-use building with retail space on the ground floor and 255…
    Application details

51 more within 500 m.

Rezoning, site plan, subdivision and condominium applications filed with the city.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Neighbourhood crime: Toronto Police Service Public Safety Data Portal (Open Government Licence – Toronto Police Service). Crime Severity Index: Statistics Canada. Planning applications: City of Toronto open data.

Living here

Commute

To Union Station (downtown Toronto): 2 km. Transit times · Driving times

Coming transit

  • 🚧 Chinatown 300 m
  • 🚧 King West GO Transit450 m
  • 🚧 Osgoode 1.1 km

Stations under construction or approved. Opening dates are the latest public estimates and often move.

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

What can be built CRE

Commercial Residential Employment (with a site-specific exception).

From Toronto’s Zoning By-law 569-2013 map. Lot size, setbacks and trees decide what actually fits; check with a planner before you buy.

Full lot check · Run the numbers

Building permits

  • Interior Alterations · 2026 · Permit Issued
    INTERIOR RENOVATION OF AN EXISTING EATING ESTABLISHMENT- Interior tenant fit out of Kiosk #K-26 ONLY
  • Interior Alterations · 2025 · Permit Issued
    NTERIOR RENOVATION FOR FIRST TIME OCCUPANCY OF 69.2SM AREA WITHIN PERMITTED GROUP 'A2' FOOD HALL; PATRON AREA WITH SEATING; PICK-UP AND…
  • Interior Alterations · 2025 · Inspection
    proposal for interior alterations for fit out within existing permitted multiple tenant food hall. First time occupancy. No change to GFA.…
  • Interior Alterations · 2025 · Closed
    Proposal to remove some interior partitions and install opening for a new fire place
  • Interior Alterations · 2024 · Closed
    Interior renovation for first time occpancy of 47.42sm area within permitted group 'a2' food hall; comprising bar serving beverages to the…

15 permits on this block of the street in the last 2 years.

Permits filed with the City of Toronto. A permit doesn’t mean the work passed final inspection.

Trees

48 City street trees within 100 m, mostly maples. That’s about the Toronto average of 42.

Trees on City boulevards only, not private yards or parks.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Short-term rentals

Only in your principal residence (where you live). The entire home can be rented up to 180 nights a year; renting up to 3 bedrooms while you live there has no limit. Hosts register with the City and collect the 6% accommodation tax.

City rules

Zoning, heritage, building permits and street trees: City of Toronto open data (Open Government Licence – Toronto). Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by CHESTNUT PARK REAL ESTATE LIMITED.

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

Similar homes nearby

See more in Toronto