505 Richmond St W #708 is a 1-bedroom, 1-bathroom condo in Toronto, listed for $635,000. It has 500-599 sq ft of living space.
1Welcome To Waterworks!
2This Stunning One Bedroom Suite Features West Facing Views, A 72 Sq/ft Balcony Off The Living Area, And A Locker, Sits Conveniently Btwn King And Queen West & Is Steps To Downtowns Finest Dining & Shopping.
3This Unit Boasts High, Smooth Ceilings, Pot Lights Throughout, Stainless Steel Appl.
Welcome To Waterworks! Built On Top Of A 1930S Heritage Utility Building This Modern Boutique Building Combines Old Charm And Modern Design. This Stunning One Bedroom Suite Features West Facing Views, A 72 Sq/ft Balcony Off The Living Area, And A Locker, Sits Conveniently Btwn King And Queen West & Is Steps To Downtowns Finest Dining & Shopping. This Unit Boasts High, Smooth Ceilings, Pot Lights Throughout, Stainless Steel Appl. And Kitchen Island. Building Offers Amazing Facilities. First-Class Concierge, Gym, Large Party Room And One-Of-A-Kind Rooftop Garden, With 360 Downtown And CN Tower View, Food Hall Is Absolutely A Bonus To Have Downstairs With High-End Restaurants And Bars. Designed By Award Winning Cecconi Simone With The Finest Hardware And Finishes. Your Dream Location In Downtown Toronto!
1 bedroom, 1 bathroom, about 500 sq ft, works out to roughly $1,270 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 505 Richmond St W #708
Every detail from the listing, in one place.
Type
Condo
Style
Apartment
Living space
500-599 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
505 Richmond St W #708 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
$3,120
/mo
based on the purchase price of $635,000
$127,000 cash
$508,000 financed
$427,869 total interest
Principal54%$508,000
Interest46%$427,869
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
Want rate-drop alerts and a saved shortlist?
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.
For homeowners nearby
Own a home on Richmond Street West? See what yours is worth
Get an instant estimate for your own home, based on recent sales around you. A free account shows the number and emails you the full report.
Free · No obligation · Backed by Coldwell Banker
Book a tour of 505 Richmond St W #708 with a licensed buyer's agent
Your agent is usually paid from the seller's side. We'll confirm the co-operating commission on this listing before you sign anything.
Zara, any time
Zara · AI virtual agent
Ask about 505 Richmond St W #708 day or night. Zara reads this listing and answers in plain words. When you want a person, she hands you to a licensed agent.
A licensed local agent
Your agent shows you the home, checks the paperwork and negotiates your offer, on your side, not the seller's.
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 $635K.
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio5194.5%On average, homes sold at or above asking.
Active listings11,860Homes for sale here right now.
Median vs prior 90 days+0.6%Compared with May 12 – Aug 10, 2026: prices up.
Based on 9,125 sales from Aug 10 – Nov 8, 2026 (7,196 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
More in this building
4 for sale · 1 for rent at 505 Richmond St W — plus its sale and lease history.
505 Richmond St W #708 is listed at $635,000 (MLS® C13818048). Summitly updates the price as soon as the MLS® record changes.
Is $635,000 a good price for 505 Richmond St W #708?
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 505 Richmond St W #708 changed?
No — 505 Richmond St W #708 is still listed at its original asking price of $635,000.
How many bedrooms and bathrooms does 505 Richmond St W #708 have?
505 Richmond St W #708 has 1 bedroom and 1 bathroom, with about 500–599 square feet of living space. It is a condo in Toronto.
Is 505 Richmond St W #708 close to transit?
The nearest rapid-transit station is Osgoode Station (Line 1), about 1.1 km (about a 14-minute walk) in a straight line. St. Andrew Station is about 1.2 km (about a 15-minute walk), and St. Patrick Station is about 1.2 km (about a 15-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 505 Richmond St W #708?
About $3,120 a month — principal and interest on $635,000 with 20% down ($127,000), 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 505 Richmond St W #708 compare with other homes in Toronto?
Its asking price of $635,000 is about 25% below the median sold price in Toronto over the last 90 days, $844,900, across 9,125 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 505 Richmond St W #708 been sold before?
Yes — Summitly has 1 earlier MLS® listing of 505 Richmond St W #708 on record. Their prices and dates are shown to signed-in members under TRREB rules: sign in free to see them in the Listing history above.
Where is 505 Richmond St W #708?
505 Richmond St W #708 is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 505 Richmond St W #708 been on the market?
46 days — 505 Richmond St W #708 was listed on September 23, 2026.
What is the price per square foot of 505 Richmond St W #708?
About $1,060 to $1,270 per square foot: the asking price of $635,000 over the 500–599 sq ft the listing gives as its size range.
Does 505 Richmond St W #708 have parking or a garage?
