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    Toronto / Downtown / Grange Park

    5408 - 488 University Ave

    For RentThe Residences of 488 University Avenue
    $4,200/mth
    2 Beds
    2 Bath
    1 Parking
    959 SQFT
    Just Listed
    Est Lease Timeframe
    17 Days

    Listing History

    Unit Highlights

    Ownership Type:
    Condo
    Possession Date:
    Immediately
    Lease Term:
    1 Year
    Property Type:
    Condo
    Utilities Included:
    No
    Outdoor Space:
    Balcony
    Furnished:
    No
    Exposure:
    West
    Locker:
    None
    Laundry:
    Main
    Renter's Market
    Balanced
    Landlord's Market

    Utilities Included

    Rent Includes
    Heat
    Air Conditioning
    Parking
    Building Maintenance
    Building Insurance
    Excluded
    Hydro
    Water

    Utility Type

    Air Conditioning
    Central Air
    Heat Source
    No Data
    Heating
    Forced Air

    Room Dimensions

    Living
    Hardwood Floor, Walkout To Balcony, West View
    21.79 x 16.8ft
    Dining
    Hardwood Floor, Combined with Dining, Windows Floor to Ceiling
    21.79 x 16.8ft
    Kitchen
    Hardwood Floor, Stainless Steel Appliances, Breakfast Bar
    21.79 x 16.8ft

    About this Listing

    Welcome to The Lower Penthouse at Residences at 488 University, where luxury living meets unparalleled convenience. This stunning split-layout two-bedroom, two-bathroom suite boasts unobstructed views of Lake Ontario and direct subway access to St. Patrick's Station. With 9-ft ceilings, the bright and spacious interiors feature open-concept living and dining areas, complemented by a state-of-the-art kitchen equipped with integrated European appliances and a stylish breakfast bar. The primary bedroom is a private retreat with a five-piece ensuite, including a double vanity, soaker tub, frameless glass shower, and walk-in closet. Modern finishes throughout create an airy, light-filled ambiance. Ideally situated steps from hospitals, the University of Toronto, Queens Park ,and the financial district, this location offers ultimate urban convenience. Residents enjoy access to 40,000 sq. ft. of premium amenities, including an indoor pool, sauna, hot tub, steam room, gym, spin and yoga studio

    re/max ultimate realty inc.MLS® #C12001986

    Amenities

    Squash Court
    Party Room
    Rooftop Deck
    Bike Storage
    Gym Room
    Outdoor Pool

    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
    45
    Days on Strata
    based on recent sales

    List vs Selling Price

    On average, these condos sell for
    4%
    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 18 condos in the Grange Park area

    Sold Units

    5
    Units were Sold over the past twelve months

    Rented Units

    111
    Units were Rented over the past twelve months

    Best Value Rank

    The Residences of 488 University Avenue offers the
    ?
    best value out of 18 condos in the Grange Park neighbourhood

    Appreciation Rank

    The Residences of 488 University Avenue has the
    ?
    highest ROI out of 18 condos in the Grange Park neighbourhood

    Rental Yield

    The Residences of 488 University Avenue yields the
    ?
    highest rent prices out of 18 condos in the Grange Park neighbourhood

    High Demand

    The Residences of 488 University Avenue is the
    ?
    most popular building out of 18 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$1,418,988No Data
    Avg. Cost Per SqftNo Data$1,280$1,323No Data$1,286No Data
    Avg. Wait for Unit Availability194 Days82 Days74 Days83 Days156 Days164 Days
    Ratio of Units in Building8%34%28%18%8%8%

    Transactions vs Inventory

    Total number of units listed and leased in Grange Park