406-233 Carlaw Avenue, Toronto, ON
South Riverdale, Toronto · MLS® E13557516
About this home
Authentic hard loft living in the iconic Garment Factory Lofts. This stunning 2-bedroom residence blends historic industrial character with thoughtful modern upgrades. Offering approximately 971 sq. ft. of interior living space plus a private 180 sq. ft. covered balcony, Unit 406 is a true urban retreat in the heart of Leslieville. Soaring 11.5-foot ceilings, polished concrete floors, fluted concrete columns, and expansive wall-to-wall windows create a dramatic yet inviting living environment with an unmistakable mid-century modern vibe. The open-concept living and dining area is designed for both everyday living and entertaining, flowing seamlessly to the oversized covered balcony, an extension of the living space and the perfect setting for summer dinners, cocktails with friends, or a quiet morning coffee. The kitchen was substantially renovated in 2024 and features custom cabinetry, integrated storage solutions, and a built-in buffet that maximizes both function and style. The spacious second bedroom offers excellent flexibility as a guest room, home office, or creative space, with ample closet storage and a Murphy bed that allows the room to adapt to changing needs. Recent mechanical upgrades provide peace of mind, including replacement of the water heater in 2024, along with a new air conditioning unit and air handler in 2025. Located in one of Toronto's most sought-after loft conversions, residents enjoy an unbeatable Leslieville lifestyle just steps to parks, cafes, restaurants, boutiques, transit, and the vibrant energy of Queen Street East. A rare opportunity to own a truly authentic loft with history, character, and all the right updates in one of the city's most desirable neighbourhoods. "Other" Room is Balcony.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- E13557516
- Bedrooms
- 2
- Bathrooms
- 1
- Size
- 900-999
- Cross streets
- Carlaw Ave and Queen St E - PRIME LESLIEVILLE!
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick, Concrete
- Maintenance
- $974/mo
- Exposure
- North
- Property tax
- $4,261 / 2025
- Days on market
- 4
- Listing brokerage
- RE/MAX HALLMARK REALTY LTD.
Rooms
sliding doors · walk-in closet(s) · w/o to balcony
stainless steel appl · stone counters · centre island
combined w/living · concrete floor · dry bar
separate room · murphy bed · double closet
concrete floor · open concept · w/o to balcony
Listed at $869,000, this home is about 3% below comparable homes, worth a close look. The number above is my independent estimate of value, not the asking price.
Based on 10 similar homes nearby, adjusted for size, beds, and baths.Median of 10 comparable active listings, adjusted for size, beds, and baths. The city (MPAC) assessment points to about $918K, 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 $825K
- Size difference +$96K
- Bathrooms −$15K
- Adjusts to $905K
That comparable adjusts to $905K; the $897K estimate above is the median of all 10 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.
Its public catchment (Morse Street Junior Public School) tests around the provincial average, a steady, family-friendly draw. The full EQAO breakdown is below.
On location, this is a very walkable address with everyday errands close by. 250 Carlaw Ave 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 $897K, median of 10 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.
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled.
- Recent major systems: lower near-term capital costs, ask for the ages and any warranties.
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room.
- Open-concept layout: modern, sought-after flow.
- Transit / schools nearby: convenience and resale support, verify the exact distances and school catchment.
- Value driver
- 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 13% below the area average of $1,056/sqft.
On the market now.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
South Riverdale, 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: 250 Carlaw Ave, about 91 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 $695,200 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,710
- Property tax
- $355
- Condo / maintenance fees
- $974
- Heating
- $0
- Estimated monthly cost
- $5,039
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $13,855
- Toronto municipal land transfer tax
- $13,855
- Estimated closing costs
- $27,710
Plus your down payment of $173,800. 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
- $222,591
- Principal paid down
- $88,534
- Interest paid
- $134,057
- Balance remaining
- $606,666
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 RE/MAX HALLMARK REALTY LTD.. MLS®/PropTx.