3901-488 University Avenue, Toronto, ON
Kensington-Chinatown, Toronto · MLS® C12994256
About this home
Welcome to elevated downtown living at one of Toronto's most prestigious addresses 488 University Avenue. This stunning 2-bdrm, 2-bath luxury condo offers an exceptional blend of sophistication, comfort & convenience in the heart of the city. Featuring a thoughtfully designed interior plus a spacious 115 sqft balcony, this residence boasts soaring 10-ft ceilings & flr-to-ceiling windows that flood the space with natural light while showcasing breathtaking, unobstructed south-facing views of Toronto's skyline. The modern kitchen is a chef's dream, complete with sleek European built-in appliances, quartz countertops, and premium finishes throughout. Thoughtfully upgraded, the built-in microwave has been replaced with three additional drawers-enhancing both functionality & storage. The open-concept living area is ideal for entertaining or unwinding in style, elevated further by dimmable pot lights that allow you to set the perfect ambiance. Both bdrms are generously sized & designed for comfort & privacy. Custom upgraded built-in closets are featured in the hallway & 2nd bdrm, maximizing storage with a refined touch. The second bdrm includes a frosted sliding door, offering flexibility & privacy without sacrificing light. The primary suite is a true retreat, complete with blackout blinds with remote control & a spa-inspired ensuite. Additional premium upgrades include a LED mirror in bathroom, smart Ecobee thermostat for enhanced climate control & a convenient all-in-one washer & dryer(2025), blending efficiency with modern living. Residents enjoy access to world-class, 5-star amenities, including a fully equipped fitness centre, indoor pool & outdoor rooftop terrace-perfect for enjoying Toronto's vibrant lifestyle year-round. Located with direct subway access via St. Patrick Station & just steps to hospital row, UofT, Toronto Metropolitan University (Ryerson), Queen's Park & the Financial District, this address offers truly unmatched urban convenience.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- C12994256
- Bedrooms
- 2
- Bathrooms
- 2
- Size
- 600-699
- Cross streets
- University Ave at Dundas St. W.
- Parking
- 0 parking
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete, Metal/Steel Siding
- Maintenance
- $641/mo
- Exposure
- East
- Property tax
- $4,004 / 2026
- Days on market
- 94
- Listing brokerage
- SUTTON GROUP KINGS CROSS INC.
Listed at $850,000, this home is about 24% above what comparable homes suggest. The number above is my independent estimate of value, not the asking price.
Based on 16 similar homes nearby, adjusted for size, beds, and baths.Median of 16 comparable active listings, adjusted for size, beds, and baths. The city (MPAC) assessment points to about $719K, a close match.
How I got there
Here is the exact math behind the estimate. I start from the closest comparable listing and adjust for the real differences (size, beds, baths) to land on a like-for-like value for this home.
- Closest comparable, listed at $500K
- Adjusts to $500K
That comparable adjusts to $500K; the $685K estimate above is the median of all 16 comparables, which is steadier than any single home.This uses comparable active listings, not sold prices. Lot, condition, and finishes are my in-person call, and I can run a full CMA with recent solds.
The assigned public school is Orde Street Public School. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
On location, this is a very walkable address with everyday errands close by. Dundas St West at University Ave - St Patrick Station is about a 1-minute walk away. Walkable, transit-friendly spots tend to hold value and widen your resale pool.
Total price vs nearby homes. Fair value about $685K, median of 16 comparables.
What the listing highlightsThese are claims from the listing. The only way to know for sure is to see it in person, and I am happy to book you a private showing.
- Pool: lifestyle appeal, but adds maintenance, insurance, and resale is mixed.
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room.
- Open-concept layout: modern, sought-after flow.
- Weigh carefully
- Worth verifying
- Lifestyle
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 5 closest of 8 active listings nearby.
See all comparable homesThis home lists 29% above the area average of $1,011/sqft.
On the market now.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Kensington-Chinatown, Toronto, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
Getting around
Very WalkableA walkability read built from the amenities around this home: how close the nearest transit stop is, and how many grocery, dining, park, and pharmacy destinations fall within a 15-minute walk. It is a guide, not a guarantee. Places data from Google.
Most daily errands can be done on foot.
🚉 Nearest transit: Dundas St West at University Ave - St Patrick Station, about 50 m away
Within a 15-minute (1.5 km) walk.
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Toronto.
Get the full neighbourhood report (schools, parks, transit & safety) →
The public and Catholic schools this address is zoned for, with EQAO results (the share of students meeting Ontario's provincial standard).
School attendance boundaries and EQAO results are Ontario government data and can change. Confirm the current catchment with the school board before relying on it.
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Conventional (20%+ down). Best insured 5-year fixed 3.99% via Ratehub.ca (as of July 17, 2026); conventional rates run a little higher.
Mortgage amount $680,000 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,629
- Property tax
- $334
- Condo / maintenance fees
- $641
- Heating
- $0
- Estimated monthly cost
- $4,603
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $13,475
- Toronto municipal land transfer tax
- $13,475
- Estimated closing costs
- $26,950
Plus your down payment of $170,000. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $217,724
- Principal paid down
- $86,598
- Interest paid
- $131,126
- Balance remaining
- $593,402
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of SUTTON GROUP KINGS CROSS INC.. MLS®/PropTx.