3901-488 University Avenue, Toronto, ON
Kensington-Chinatown, Toronto · MLS® C13725650
About this home
In short
- 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 bright, open-concept living and dining area is filled with natural light, while dimmable lighting in the kitchen and hallway creates the perfect ambience.
- 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...
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.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- C13725650
- Bedrooms
- 2
- Bathrooms
- 2
- Size
- 600-699 sq ft
- 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
- Foundation
- Concrete
- Maintenance
- $641/mo
- Exposure
- East
- Property tax
- $4,074 / 2026
- Days on market
- 51
- Listing brokerage
- FIRST CLASS REALTY INC.
Rooms
hardwood floor · modern kitchen
open concept · combined w/kitchen · pot lights
3 Pc Ensuite
3 Pc Bath
closet · sliding doors · hardwood floor
No automatic estimate is shown here: there is not a deep enough record of recent sales of homes like this one in this neighbourhood to support one.
Considering this property? Request a written price readThe 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.
For sale
For sale
For sale
For sale
For sale
For sale
For saleThe closest active listings by size, beds, and price, so you can see what this home is up against.
Per square foot, these ask about $1,017/sqft; this home lists at $1,115/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 7 active listings nearby.
See all comparable homesNeighbourhood & location
Kensington-Chinatown, Toronto, ON
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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.
Also nearby: 12 more schools within 2.5 km
Not the assigned catchment: schools a family here could reach, with EQAO results where published.
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 4.34% via Ratehub.ca (as of October 20, 2026); conventional rates run a little higher.
Mortgage amount $579,200 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,202
- Property tax
- $340
- Condo / maintenance fees
- $641
- Heating
- $0
- Estimated monthly cost
- $4,183
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $10,955
- Toronto municipal land transfer tax
- $10,955
- Estimated closing costs
- $21,910
Plus your down payment of $144,800. 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
- $192,150
- Principal paid down
- $70,768
- Interest paid
- $121,382
- Balance remaining
- $508,432
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 FIRST CLASS REALTY INC.. MLS®/PropTx.