Experience elevated downtown living at 488 University Avenue. This exceptional 2-bedroom, 2-bathroom residence offers soaring 10-foot ceilings, floor-to-ceiling windows and breathtaking, unobstructed south-facing skyline views. Step onto the private 115 sq. ft. balcony-an ideal setting for morning coffee or relaxing at the end of the day.The sleek, modern kitchen features quartz countertops, European-style built-in appliances and upgraded cabinetry that provides valuable additional storage. The original built-in microwave space has been thoughtfully replaced with three extra drawers. The bright, open-concept living and dining area is filled with natural light, while dimmable lighting in the kitchen and hallway creates the perfect ambience.Both bedrooms are generously sized and enhanced with custom-built closets. The second bedroom features a frosted sliding door that provides privacy while allowing natural light to flow through. The primary suite is a serene retreat with motorized blackout blinds and a spa-inspired ensuite bathroom. Additional upgrades include a custom hallway closet, an LED mirror in the guest bathroom, a smart Ecobee thermostat and a brand-new all-in-one washer and dryer installed in 2025.Residents enjoy five-star amenities, including a fitness centre, indoor pool and rooftop terrace. Ideally located steps from St. Patrick Subway Station, Hospital Row, the University of Toronto, Toronto Metropolitan University, Queen's Park and the Financial District, with outstanding dining, shopping, culture and entertainment at your doorstep.Downtown Toronto living at its absolute finest.
2 bedrooms, 2 bathrooms, about 600 sq ft, works out to roughly $1,207 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.
Inside 488 University Ave #3901
Every detail from the listing, in one place.
Type
Condo
Style
Apartment
Living space
600-699 sq ftas stated on the listing
Basement
None
Features & systems
Parking & garage
Garage
Yes
Parking spaces
0
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Apartment
Property class
Condo Apartment
488 University Ave #3901 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$3,557
/mo
based on the purchase price of $724,000
$144,800 cash
$579,200 financed
$487,838 total interest
Principal54%$579,200
Interest46%$487,838
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Toronto
Other 1–2 bed homes for sale in Toronto around $724K.
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio5097.1%On average, homes sold at or above asking.
Active listings12,639Homes for sale here right now.
Median vs prior 90 days+1.2%Compared with Apr 25 – Jul 24, 2026: prices up.
Based on 9,303 sales from Jul 24 – Oct 22, 2026 (6,811 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
488 University Ave #3901 is listed at $724,000 (MLS® C13725650). Summitly updates the price as soon as the MLS® record changes.
Is $724,000 a good price for 488 University Ave #3901?
Summitly rates it Well Above Market: the asking price is 15% or more above Zara's estimate, an estimate built from recent sales in Toronto. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 488 University Ave #3901 changed?
Yes — it was first listed at $789,900 and is now $724,000, a drop of $65,900 (8.3%).
How many bedrooms and bathrooms does 488 University Ave #3901 have?
488 University Ave #3901 has 2 bedrooms and 2 bathrooms, with about 600–699 square feet of living space. It is a condo in Toronto.
Is 488 University Ave #3901 close to transit?
The nearest rapid-transit station is St. Patrick Station (Line 1), about 70 m (about a 1-minute walk) in a straight line. Osgoode Station is about 510 m (about a 6-minute walk), and Queen's Park Station is about 520 m (about a 7-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 488 University Ave #3901?
About $3,557 a month — principal and interest on $724,000 with 20% down ($144,800), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 488 University Ave #3901 compare with other homes in Toronto?
Its asking price of $724,000 is about 14% below the median sold price in Toronto over the last 90 days, $845,000, across 9,303 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 488 University Ave #3901 been sold before?
Summitly has no earlier MLS® sale or lease of 488 University Ave #3901 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 488 University Ave #3901?
488 University Ave #3901 is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 488 University Ave #3901 been on the market?
54 days — 488 University Ave #3901 was listed on August 29, 2026.
What is the price per square foot of 488 University Ave #3901?
About $1,036 to $1,207 per square foot: the asking price of $724,000 over the 600–699 sq ft the listing gives as its size range.
Does 488 University Ave #3901 have parking or a garage?
