3002-488 University Ave
Kensington-Chinatown, Toronto, Ontario M5G 0C1
- Bedrooms
- 3
- Bathrooms
- 2
- Size
- 1,000–1,199sq ft
- Per sq ft
- $1,046at the range’s middle
- Tax a year
- $5,9702026 tax year
- Parking
- 11 underground
- Days on market
- Members
The brief
About 3002-488 University Ave
3002-488 University Ave is a 3-bedroom, 2-bathroom condo in Kensington-Chinatown, Toronto, listed for sale at an asking price of $1,150,000 (MLS® C13864532).
This is the home you have been dreaming of. This extraordinary 3 bedroom corner suite offers breathtaking, unobstructed views of the Toronto skyline, with 1042 sqft of interior living space plus a 180 sqft private balcony. Floor to ceiling windows flood the interior with natural light, complemented by wide plank hardwood floors, smooth 10 ft ceilings and modern finishes throughout. Freshly painted. The smart, functional layout leaves no wasted space. The well sized bedrooms offer generous storage, and the large private balcony gives you the perfect spot to relax or entertain outdoors. The primary suite features a spa inspired ensuite with freestanding tub and glass shower for a true retreat at the end of the day. A standout feature of this building is valet parking, a rare offering not found anywhere else in the immediate vicinity. Parking and valet service comes included with the unit, with the parking maintenance fee covering the spot itself. No other building nearby can match this level of convenience. Located in the heart of downtown Toronto, steps to major hospitals, St. Patrick Station, U ofT, TMU, Queen's Park, the Eaton Centre, and the Financial District, with direct subway access for seamless connectivity across the city. Building amenities include a fitness centre, spa, party lounge and sky bar. Whether you are a professional, academic, or simply someone who values the best of city living, this unit has it all.
Insights
Condition Score
Fair66/1004 condition-related facts documented
Source: Listing age, structured features and disclosed update language; not an inspection.
Cashflow Quality
Shortfall19/100−$2,764/mo against the cost of owning (20% down, 4.8%, 25 yrs)
Source: Median of 8 condos with 3 bedrooms for lease in Kensington-Chinatown right now. Cost of owning counts the mortgage, property tax and the condo fee.
Condition uses listing-record signals, not an inspection.
The home
Key facts
- Tax
- $5,970 / 2026
- MLS® number
- C13864532
- Board
- TRREB MLS®
- Property Type
- Condo Apt
- Days on market
- Size
- 1000-1199 sqft
- Listed on
- Parking
- 1 Underground, 1 Parking
Property details
Property
- Property Type
- Condo Apt
- Style
- Apartment
- Community
- Kensington-Chinatown
- Municipality
- Toronto
Building
- Size
- 1000-1199 sqft
- Construction
- Concrete
Inside
- Bedrooms
- 3
- Bathrooms
- 2
- Bathroom Details
- 1 × 4pc Main, 1 × 4pc Main
- Basement Type
- None
- Kitchens
- 1
Parking
- Garage Type
- Underground
- Garage
- 1
- Additional Parking
- 0
- Total Parking
- 1
Utilities
- Cooling
- Central Air
- Heating Type
- Forced Air
Additional
- Fireplace
- No
- Den
- Yes
- Family room
- Yes
- Extras
- Prime Location with Top Class Building Amenities in Toronto! Integrated Fridge, Stove, Microwave; Dishwasher, Range Hood; Washer And Dryer. Touch Screen B/I Lighting System In Living. Built in closet in Master Bedroom, Free Standing Soaker Tub & Separate Shower Room. All Custom Made Window Blinds, All Existing Lighting Fixtures. 1 Valet Parking.
- Condo maint.
- $970
Rooms
| Room | Size | Features | Level |
|---|---|---|---|
| Foyer | 1.64 × 2.81 m | B/I Shelves, hardwood floor | Main |
| Kitchen | 3.75 × 4.0 m | Open Concept, Centre Island, Marble Counter | Main |
| Living | 3.78 × 4.4 m | W/O To Balcony, Window Flr to Ceil, hardwood floor | Main |
| Primary | 3.1 × 3.45 m | East View, Window Flr to Ceil, B/I Closet | Main |
| Bathroom | 2.6 × 2.9 m | Soaker, 4 Pc Ensuite, Marble Floor | Main |
| 2nd Br | 2.72 × 2.86 m | Window Flr to Ceil, Closet, hardwood floor | Main |
| 3rd Br | 2.44 × 2.7 m | Closet, hardwood floor | Main |
| Other | 2.42 × 7.58 m | Ne View, Balcony, Nw View | Main |
Listing history
Buy/sell history for 3002-488 University Ave, Toronto, Ontario
Sale history on this site covers the last 2 years, the window permitted under the TRREB MLS® VOW agreement.
| Date Start | Date End | List Price | Price | Event | Listing ID |
|---|---|---|---|---|---|
| Date StartN/A | N/A | $1,150,000 | N/A | For Sale | C13864532 |
Members see the full history. Prices are hidden from signed-out visitors.
The numbers
Mortgage Calculator
Plan with the current asking price
CMHC insurance: not required at 20% down. Payments use Canadian semi-annual compounding.
Mortgage Details
4.8% · 5-year term · 25-year amortization · 20% down
- Total down payment
- $230,000
- Total mortgage amount
- $920,000
- Total interest payment
- $654,100
- Total purchase cost
- $1,804,100
- Mortgage payment
- $5,247/mo
Cash Flow Analysis
If you rented this home out at 20% down
Break-even down payment
62%Monthly carrying cost
$6,714- Rent $3,950
- Shortfall $2,764
Rental income opens at $3,950, the median asking rent of 8 comparable homes for lease in Kensington-Chinatown. Type over it with the rent you expect. This is a planning tool, not advice.
Land transfer tax on this home
- Ontario land transfer tax
- $19,475
- Toronto municipal land transfer tax
- $19,475
- Total land transfer tax
- $38,950
- First-time buyer rebates (Ontario up to $4,000 + Toronto up to $4,475)
- −$8,475
- Total for first-time buyers
- $30,475
See how this is worked out
- 0.5% on the first $55,000
- $275
- 1.0% from $55,000 to $250,000
- $1,950
- 1.5% from $250,000 to $400,000
- $2,250
- 2.0% from $400,000 to $1,150,000
- $15,000
- Ontario total
- $19,475
Toronto’s municipal tax uses the same brackets at this price, so it adds another $19,475.
An estimate at the asking price, for a home with one or two single-family residences. Your lawyer confirms the exact amount.
Estimate
Estimated value requires sign in
Market estimates use sold comparables and are available after you sign in and accept MLS® VOW terms.
The estimate is an automated value built from public and MLS® data. It is not an appraisal; ask Yossi Kaplan, MBA, Salesperson for a full comparative market analysis.
Comparable sales
Comparable sales require sign in
Closing prices and sold comps are available to registered visitors who accept MLS® VOW terms on this site.
The land
Land and environment
Public records about this location. Not part of the MLS® listing and not provided by the listing brokerage.
Water and conservation4
- Not in Toronto and Region Conservation Authority’s mapped regulated areaAt the address
- No mapped wetland within 120 m120 m
- No water-supply well recorded within 250 m56 test or monitoring holes also recorded.250 m
- Groundwater recorded about 10.8 m below ground nearbyThe middle water level in the well records within 500 m (204 records). It changes with the season and from spot to spot.500 m
Toronto and Region Conservation Authority · Province of Ontario open data
Planning and building activity5
- Outside the Greenbelt, Oak Ridges Moraine and Niagara Escarpment plan areasAt the address
- 157 building permits issued within 250 m in the last 2 years250 m
- 14 open development applications within 250 mAn application is a proposal: it may change, be refused or never be built.250 m
- Nearest airport: 2.3 km2.3 km
- Mapped parcel: about 21,730 sq ftMeasured from the municipal parcel map, which can differ from the survey and from the lot size in the listing.At the address
Province of Ontario open data · Municipal building permits · Municipal development applications · toronto.parcels
Around the home1
- A trail on the Ontario trail network within 1 km1 km
Province of Ontario open data
Environmental records4
- No licensed pit or quarry within 2 km2 km
- No recorded oil, gas or salt well within 250 m250 m
- 3 facilities within 1 km report pollutant releases to Environment CanadaThe nearest is Enwave Energy Corporation — Walton Street Steam Plant, 410 m away. Facilities report to the National Pollutant Release Inventory above set thresholds; reporting a release is not a finding of harm.1 km
- No federal contaminated site within 1 kmThe federal inventory covers federal land only; it says nothing about provincial or private sites.1 km
Province of Ontario open data · Government of Canada open data
Power and internet3
- Electricity is distributed here by Toronto Hydro-Electric System LimitedAt the address
- Wired internet 50/10 Mbps or faster is listed at this locationFixed wireless 50/10 Mbps or faster. LTE mobile coverage listed. ISED’s National Broadband Data at the nearest household point (20 m from the listing); 50/10 Mbps is its top category and includes faster plans. Confirm with a provider for this address.At the address
- Across the surrounding area: fibre to the home, cable, DSL internet listedFibre to the home: Beanfield Metroconnect, Bell, CIK Telecom, Dotto One, FibreStream, Rally, Rogers. Cable: Rogers. DSL: Bell. Fixed wireless: Rogers, SkyChoice Communications. Mobile: Bell, Freedom Mobile, Rogers, Telus. Satellite: Xplore. ISED’s list for the surrounding ~25 km² area; check with a provider for this address.Area-wide
Ontario Energy Board · Innovation, Science and Economic Development Canada
Each record is placed at the distance its own line states. None of it is an inspection of the property. Confirm anything that matters to you with the municipality, Toronto and Region Conservation Authorityor the record’s publisher.
Contains information licensed under the Open Government Licence – Canada. Contains information licensed under the Open Government Licence – Ontario. Contains information licensed under the Open Government Licence – Toronto. Contains information made available under the Toronto and Region Conservation Authority Open Data Licence v1.0.
Heritage and ravine protection
- Not found on the Heritage Register
- Not in a mapped Heritage Conservation District
- Not in the mapped ravine protection area
What this means: None of these City records was found at this address. That does not rule out other approvals, such as a conservation authority permit, so check before you plan work.
City of Toronto Heritage Register, Heritage Conservation Districts and the Ravine and Natural Feature Protection by-law, read at this address from the City’s maps. Contains information licensed under the Open Government Licence – Toronto.
Zoning
By-law
See Former City of Toronto By-Law No. 438-86What this means:the City’s 2013 zoning by-law does not cover this land, so the former municipality’s by-law still sets what may be built. Confirm the rules with the City before you plan.
City of Toronto zoning map, read at this address. Open the City’s zoning map. Contains information licensed under the Open Government Licence – Toronto.
Permit history
No building permits on file at this address.
Signals around this home
Changing nearby. 6 open development applications within 800 m of this home.
250 DUNDAS ST WSite planUnder Review
INACTIVE Proposal for a 49-storey mixed-use building comprised of 441 residential dwelling units, including 26 affordable housing units. The proposal will have a non-residential gross floor area of 31,113 square metres, and a non-residential gross floor area of 15,399 square metres.
70 m away250 DUNDAS ST WPlan of subdivisionUnder Review
Draft Plan of Subdivision for 4 blocks.
70 m away522 UNIVERSITY AVESite planUnder Review
Site Plan Control application to permit a 64-storey mixed-use building, comprised of a 51-storey residential tower atop a 15-storey office podium. The proposal consists of a total of approximately 54,983 square metres of gross floor area, of which 33,570 square metres would be dedicated to residential uses, 21,202 square metres to office uses, and 2111 square metres to retail uses, resulting in a density of 22.8 FSI. The proposed building will contain a total of 579 dwelling units in a range of unit types.
100 m away505 UNIVERSITY AVESite planUnder Review
The redevelopment proposes a 64-storey mixed-use building with a 12-storey office podium and is inclusive of four levels of below-grade parking with a total of 171 parking spaces. The redevelopment proposes 704 dwelling units, resulting in a total residential gross floor area (GFA) of 46,683 sq. m., a total of 24,919 sq. m. of office GFA, and a total of 460 sq. m of retail GFA which results in a total Floor Space Index (FSI) of 21.65, pursuant to GFA calculations under By-law 569-2013.
120 m away195 DUNDAS ST WSite planUnder Review
Site plan application for a 41-storey mixed use building, comprising of a 6-storey podium, on top of which is a 35-storey tower. The proposed building will contain retail uses at-grade, along with non-residential use between the 2nd and 20th levels, and residential uses between the 21st to 41st levels. The building will contain a total of 135 new dwelling units. A related ZBA (22 204655 STE 10 OZ) and SPA (22 204654 STE 10 SA) are being circulated concurrently.
160 m away191 DUNDAS ST WSite planUnder Review
Site plan application for a 41-storey mixed use building, comprising of a 6-storey podium, on top of which is a 35-storey tower. The proposed building will contain retail uses at-grade, along with non-residential use between the 2nd and 20th levels, and residential uses between the 21st to 41st levels. The building will contain a total of 135 new dwelling units. A related ZBA (22 204655 STE 10 OZ) and SPA (22 204654 STE 10 SA) are being circulated concurrently.
180 m away
City of Toronto Open Data — Development Applications and Building Permits (cleared permits since 2017). An application is a proposal: it may change, be refused or never be built. Contains information licensed under the Open Government Licence – Toronto.
The market
Condos for sale in Kensington-Chinatown right now
- For sale now
- 83
- Median asking price
- $650K
- New in 7 days
- 11
- Price cuts
- 24%
Middle half: $519K to $862K
32 in 28 days
20 listings
This home is asking 77% above the median, higher than three quarters of them.
See all homes in Kensington-ChinatownAsking prices and counts of the MLS® listings on this site as of today. Asking figures only, never sold or leased prices.
Market area · filters apply to the charts below
The street
Transit nearby
| Station | Lines | Distance |
|---|---|---|
| St Patrick Station | TTC subway: Line 1 Yonge-University | 100 m |
| Osgoode Station | TTC subway: Line 1 Yonge-University | 450 m |
| Queen's Park Station | TTC subway: Line 1 Yonge-University | 550 m |
| TMU Station | TTC subway: Line 1 Yonge-University | 650 m |
| Union Station | TTC subway: Line 1 Yonge-UniversityGO Transit train: Barrie, Kitchener, Lakeshore East, Lakeshore West, Milton, Richmond Hill, StouffvilleUP Express train | 1.3 km |
The nearest subway, light rail, train, bus rapid transit stations 5 km, as the crow flies. Source: TTC schedule data (GTFS) from the Toronto Transit Commission under the Open Government Licence – Toronto; GO Transit and UP Express schedule data (GTFS) from Metrolinx under the Open Government Licence – Ontario – Metrolinx, downloaded October 18, 2026. Contains information licensed under the Open Government Licence – Toronto. Data used in this product or service is provided with the permission of Metrolinx. Metrolinx makes no representations or warranties of any kind, express or implied, with respect to the Data and assumes no responsibility for the accuracy or currency of the data used in this product or service. Contains information licensed under the Open Government Licence – Ontario – Metrolinx.
Schools nearby
| Elementary | Type | Distance | EQAO average 2024–25 |
|---|---|---|---|
| Orde Street Public SchoolToronto DSB | Public · grades JK–8 | 500 m | 82%Grade 6 average |
| Beverley SchoolToronto DSB | Public · grades JK–8 | 550 m | — |
| St Michael's Choir (Jr) SchoolToronto CDSB | Catholic · grades 1–8 · French Immersion | 900 m | 99%Grade 6 average |
| École élémentaire Gabrielle-RoyConseil scolaire Viamonde | French-language public · grades JK–6 | 1.4 km | 96%Grade 6 average |
| Secondary | Type | Distance | Grade 9 math 2024–25 |
|---|---|---|---|
| Heydon Park Secondary SchoolToronto DSB | Public · grades 9–12 | 450 m | 8%Grade 9 math |
| Subway Academy IIToronto DSB | Public · grades 9–12 | 550 m | — |
| St Michael's Choir (Sr) SchoolToronto CDSB | Catholic · grades 9–12 | 900 m | 96%Grade 9 math |
| Collège français secondaireConseil scolaire Viamonde | French-language public · grades 9–12 | 1.3 km | 86%Grade 9 math |
EQAO: share of students at or above the provincial standard, 2024–25 (Ontario open data). These are the schools nearest this home, not the schools it is assigned to: boundaries change, and some schools take students by application. Confirm with the board before you buy. Contains information licensed under the Open Government Licence – Ontario.
The verdict
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