505 Richmond St W #714, Toronto

Name: 505 Richmond Street W, Unit 714
SKU: C14120760
Price: 839900 CAD
Availability: InStock

2 Bed, 2 Bath Condo in Toronto

Unit 714 at 505 Richmond Street West

Rare opportunity to own an exceptional residence in the iconic Waterworks Residences, where timeless heritage architecture meets sophisticated modern luxury. This beautifully appointed two-bedroom suite showcases elegant finishes, soaring 9-foot ceilings, and an abundance of natural light streaming through an impressive wall of floor-to-ceiling windows, creating a bright and inviting atmosphere throughout.Designed with both style and functionality in mind, the thoughtfully crafted open-concept layout flows effortlessly from room to room, maximizing both comfort and everyday living. The contemporary kitchen is a chef's dream, featuring integrated appliances, a generous centre island with ample workspace, and abundant counter space for cooking, entertaining, and gathering with family and friends. Step outside to your spacious private balcony-an ideal extension of your living space and the perfect setting to relax, unwind, or entertain while enjoying the vibrant downtown surroundings. Residents of Waterworks enjoy an unparalleled lifestyle with access to premium amenities, including a state-of-the-art YMCA fitness facility, spectacular rooftop amenities, and the renowned Waterworks Food Hall. Perfectly positioned in the heart of downtown Toronto, you're just steps from the boutiques, acclaimed restaurants, cafés, and nightlife of Queen West and King West, with the Financial District, transit, and countless urban conveniences only moments away. *Some Photos Have Been Virtually Staged*

2 bedrooms, 2 bathrooms, about 800 sq ft, works out to roughly $1,050 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 #714

Every detail from the listing, in one place.

Type: Condo
Style: Apartment
Living space: 800-899 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 #714 Price & Sale History

Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.

Oct 27, 2026For saleListedThis listingMLS® C14120760$839,900

Sourced from MLS®. Includes earlier listings of this property on record.

What's it worth?

How 505 Richmond St W #714 Compares to the Toronto Market

Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.

Zara’s estimate

Well Above Market· based on 16,089 recent sales

Value your own home →How accurate are Zara’s estimates?

Summitly estimate, not from TRREB, the MLS® or the listing brokerage. Not an appraisal. How it works

Toronto market, last 90 days

Median sold price: $840,000
Average sold price: $1,082,613
Average days on market: 31
Homes sold: 9,552

Closed sales on the TRREB MLS®.

Full Toronto market report

Market pulse · Toronto

Toronto market

Median sold price$840,000Last 90 days
Average days on market31Homes sold in about 31 days on average.
Sale-to-list ratio4966.8%On average, homes sold at or above asking.
Active listings12,371Homes for sale here right now.
Median vs prior 90 days0.0%Compared with Apr 30 – Jul 29, 2026.

Based on 9,552 sales from Jul 29 – Oct 27, 2026 (6,950 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.

Recently sold nearby in Toronto

Sold prices are shown free to signed-in members, as board rules require.

6 nearby sales vs. this home

Closed sales from MLS®, compared with this home's asking price.

See what these homes actually sold for

Free with a Summitly account. Sign in once and sold prices unlock across the site.

Home	Sold price	$ / sqft	% of asking	Sold
This homeUnit 714 — 505 Richmond Street W 2 bd · 2 ba · 800 sqft	$839,900asking	$1,050	—	—
5 Kenneth Avenue 2 bd · 2 ba · 1,400 sqft
120 Dallimore Circle 2 bd · 2 ba · 700 sqft
2 Clairtrell Road 1 bd · 1 ba · 600 sqft
150 East Liberty Street 1 bd · 1 ba · 600 sqft
50 O'Neill Road 2 bd · 2 ba · 800 sqft
62 Forest Manor Road 1 bd · 1 ba · 600 sqft

5 Kenneth Avenue
2 bd · 2 ba · 1,400 sqft
120 Dallimore Circle
2 bd · 2 ba · 700 sqft
2 Clairtrell Road
1 bd · 1 ba · 600 sqft
150 East Liberty Street
1 bd · 1 ba · 600 sqft
50 O'Neill Road
2 bd · 2 ba · 800 sqft
62 Forest Manor Road
1 bd · 1 ba · 600 sqft

More in this building

4 for sale · 4 for rent at 505 Richmond St W — plus its sale and lease history.

See all of 505 Richmond St W

Living in Toronto: Location & Amenities

Transit, schools, parks and everyday places near this home. Select any place to open it on Google Maps.

Transit nearby

Stations and stops, straight-line distance

Osgoode StationLine 11.1 km14 min walk
St. Andrew StationLine 11.2 km15 min walk
St. Patrick StationLine 11.2 km15 min walk

Places from OpenStreetMap (© OpenStreetMap contributors) and Summitly's station list. Distances are straight-line, not routes.

Loading schools, parks, groceries and more nearby…

Transit

Osgoode Station (Line 1)14 min walk
St. Andrew Station (Line 1)15 min walk
St. Patrick Station (Line 1)15 min walk

Nearest subway, GO and LRT stations first, then bus and streetcar stops.

Osgoode Station
1.1 km14 minClosest· Line 1
Homes near Osgoode Station
St. Andrew Station
1.2 km15 min· Line 1
Homes near St. Andrew Station
St. Patrick Station
1.2 km15 min· Line 1
Homes near St. Patrick Station

Straight-line distances from the listing; walking times assume about 80 m a minute. Places © OpenStreetMap contributors, a community-maintained map that may miss or misplace some places. Directions and place details open on Google Maps.

How long is your commute?

From 505 Richmond St W #714. Typical times without traffic delays; transit times aren't available yet.

Costs, Mortgage & Rental Return for 505 Richmond St W #714

What it could cost each month, today's rates from our mortgage partner, and what it could return as a rental.

Mortgage: $4,126; 20% down · 25 years · 5.5% assumed
Property tax: $462; 0.66% mill rate · ON
Total per month: $4,588; Before utilities, insurance and fees

Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.

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Monthly cost

Enter a rate to see the monthly cost

Down payment

Rate (%)

Years

An estimate, not a quote. Utilities and insurance are extra.

Affordability calculator

Estimated monthly payment

$4,126

/mo

based on the purchase price of $839,900

Down payment20%

$167,980 cash

Amortization25 yr

$671,920 financed

Rate5.50%

$565,933 total interest

Principal54%$671,920

Interest46%$565,933

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.

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Questions About 505 Richmond St W #714

How much is 505 Richmond St W #714 listed for?

505 Richmond St W #714 is listed at $839,900 (MLS® C14120760). Summitly updates the price as soon as the MLS® record changes.

Is $839,900 a good price for 505 Richmond St W #714?

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 #714 changed?

No — 505 Richmond St W #714 is still listed at its original asking price of $839,900.

How many bedrooms and bathrooms does 505 Richmond St W #714 have?

505 Richmond St W #714 has 2 bedrooms and 2 bathrooms, with about 800–899 square feet of living space. It is a condo in Toronto.

Is 505 Richmond St W #714 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 #714?

About $4,126 a month — principal and interest on $839,900 with 20% down ($167,980), 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 #714 compare with other homes in Toronto?

Its asking price of $839,900 is about the same as the median sold price in Toronto over the last 90 days, $840,000, across 9,552 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 #714 been sold before?

Summitly has no earlier MLS® sale or lease of 505 Richmond St W #714 on record from the last two years. Older records aren't shown under TRREB rules.

Where is 505 Richmond St W #714?

505 Richmond St W #714 is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.

How long has 505 Richmond St W #714 been on the market?

505 Richmond St W #714 was listed today (October 27, 2026).

What is the price per square foot of 505 Richmond St W #714?

About $934 to $1,050 per square foot: the asking price of $839,900 over the 800–899 sq ft the listing gives as its size range.

Does 505 Richmond St W #714 have parking or a garage?

Garage: Yes.

What you should know