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424 - 505 Richmond Street W
Waterfront Communities C1, Toronto
$880,000
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.
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| Type | Condo Apartment |
| Style | Apartment |
| Approx. Age | Not available |
| Size | 700-799 sq. ft. |
| Maintenance Fees | $759 |
| Locker | Owned |
| Balcony | Open |
| Exposure | West |
| Parking Type | Underground |
| Parking Spaces | 1 |
| Parking Features | None |
| Property Tax | $4,220 |
| mls© Number | C13834028 |
| Listed By | CHESTNUT PARK REAL ESTATE LIMITED |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Schools
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $4,504
- Property tax
- $352
- Heat allowance
- $150
- Condo fees, half counted
- $380
- Housing costs
- $5,386 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$166,000
gross annual household income
- Payment at 4%
- $3,703 / mo
- Cash down
- $176,000
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
Values and trends
For condo apartment listings, Waterfront Communities C1 is currently leaning buyers' way — there is more choice and more room to negotiate. Over June – August 2026, homes here typically sold in about 40 days and fetched 94% of the asking price. Buyer competition is running hotter than the same months last year.
- Demand
- 0.37
- Avg days on market
- 40 d
- Sale-to-list
- 94%
- Price change (YoY)
- -3.3%
Based on 349 sales
0.33
Buyer's market
42days
+3 days vs the same month last year
$663,406
-9.6% vs a year ago
Nearby listings
Comparable sales
- No similar listings found.






























































































































































































































































































































































































































































































































































