5308-488 University Avenue, Toronto, ON
Kensington-Chinatown, Toronto · MLS® C13553560
About this home
Penthouse living at its finest at the iconic Residences of 488 University Avenue. This beautifully appointed 2-bedroom, 2-bathroom fully furnished suite offers approximately 960 sqft of thoughtfully designed living space, delivering a seamless blend of luxury and convenience in one of Toronto's most prestigious addresses. Featuring soaring 10-foot ceilings and floor-to-ceiling windows, the unit is filled with natural light and showcases stunning west-facing city views. The sleek, modern kitchen is outfitted with upgraded built-in appliances, marble countertops, and wood veneered cabinetry - designed for the resident who appreciates both form and function. Automated electric blinds, premium finishes, and generous living and dining furniture from West Elm make this suite equally suited to quiet evenings in or effortless entertaining. Both bedrooms are generously sized, with a well-appointed primary suite featuring a spa-inspired ensuite. Located in a world-class, award-winning building with direct subway access, this residence places you steps from U of T, Toronto Metropolitan University, major hospitals, the Financial District, Queen's Park, Eaton Centre, and more. Residents enjoy access to exceptional 5-star amenities including top-of-the-line valet parking, 24-hour concierge, a state-of-the-art fitness centre with spa, indoor pool, party room, Sky Bar, and more. A rare opportunity to live in a fully furnished penthouse suite in the heart of downtown Toronto.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- C13553560
- Bedrooms
- 2
- Bathrooms
- 2
- Size
- 900-999
- Cross streets
- Dundas / University
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete
- Exposure
- West
- Days on market
- 11
- Listing brokerage
- PROPERTY.CA INC.
Rooms
combined w/dining · hardwood floor
marble counter · centre island · b/i appliances
closet · sliding doors · hardwood floor
5 pc ensuite · walk through · hardwood floor
combined w/living · hardwood floor · w/o to balcony
Heads up: the asking price here sits well above what comparable listings suggest. That can point to premium finishes, a bigger lot, or simply an ambitious ask, so it is worth a close look before you offer. I would not put an automatic figure on this one. Tell me you are interested and I will pull the most comparable recent leases and give you a straight answer on what it will really take.
Ask Moe if this price is fairThe 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.
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. Weigh carefully
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room. Worth verifying
- Primary suite: a key comfort and resale feature. Lifestyle
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 3 closest active listings nearby.
See all comparable homesOn the market now.
View comparable listingsNot enough sq ft data to place this home on the area price curve.
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.
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 23, 2026); conventional rates run a little higher.
Mortgage amount $4,360 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $23
- Property tax
- $3
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $27
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $27
- Toronto municipal land transfer tax
- $27
- Estimated closing costs
- $55
Plus your down payment of $1,090. 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
- $1,396
- Principal paid down
- $555
- Interest paid
- $841
- Balance remaining
- $3,805
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.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of PROPERTY.CA INC.. MLS®/PropTx.