2904-2045 Lake Shore Boulevard, Toronto, ON
Mimico, Toronto · MLS® W13751948
About this home
In short
- THE VALUE EQUATION HAS CHANGED AT PALACE PIER.
- The custom open-concept kitchen features an impressive wraparound quartz island, premium appliances and exceptional entertaining space.
- Hardwood-style flooring, enhanced ceiling lighting add warmth and sophistication throughout.
- The spacious primary bedroom retreat includes a large walk-in closet and luxurious 6-piece ensuite with soaker tub and glass shower.
- Maintenance fees of $1.11 per sq. ft. include heat, hydro, water, Bell Fibe high-speed internet, cable with free movie channels, plus an extraordinary collection of...
THE VALUE EQUATION HAS CHANGED AT PALACE PIER. Offered at $1,099,000, this extraordinary approx. 2,777 sq. ft. residence represents remarkable value at approximately $395 per sq. ft. - an exceptional opportunity to own house-sized living within one of Toronto's iconic waterfront communities. Spanning two storeys, this beautifully appointed 3-bedroom, 3-bathroom residence offers something difficult to find in condominium living: space, separation and privacy. Two entrances, two balconies, generous principal rooms and an expansive layout create the feeling of a home, with the convenience and services of condominium living. The custom open-concept kitchen features an impressive wraparound quartz island, premium appliances and exceptional entertaining space. Hardwood-style flooring, enhanced ceiling lighting add warmth and sophistication throughout. The spacious primary bedroom retreat includes a large walk-in closet and luxurious 6-piece ensuite with soaker tub and glass shower. Enjoy northeast views across the surrounding parkland, High Park and Humber River area. And then there is the Palace Pier lifestyle. Maintenance fees of $1.11 per sq. ft. include heat, hydro, water, Bell Fibe high-speed internet, cable with free movie channels, plus an extraordinary collection of amenities: 24-hour concierge and security, valet parking, private shuttle service to downtown, indoor saltwater pool, fitness facilities, tennis, golf simulator, rooftop club/Sky Lounge, spa, onsite Premium Culinary restaurant, guest suites, car wash, EV charging, etc. Two side-by-side parking spaces and locker included. At $1,099,000, the opportunity is compelling: approximately 2,777 sq. ft. of waterfront-community living for approximately $395 per sq. ft. Luxury-sized space. Resort-style services. Exceptional value. Welcome to Suite 2904 at Palace Pier.
Key facts
- Property type
- Condo Apartment, 2-Storey
- MLS®
- W13751948
- Bedrooms
- 3
- Bathrooms
- 3 (1 half)
- Size
- 2750-2999 sq ft
- Cross streets
- Palace Pier Court and Lake Shore Blvd W
- Parking
- 2 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $3,105/mo
- Exposure
- North East
- Property tax
- $5,693 / 2025
- Days on market
- 13
- Listing brokerage
- ROYAL LEPAGE SIGNATURE REALTY
Rooms
laminate · w/o to balcony · large window
laminate · w/o to balcony · pot lights
laminate · pot lights
laminate · w/o to balcony · 6 pc ensuite
laminate · walk-in closet(s) · pot lights
marble floor · double closet · 2 pc bath
marble floor · quartz counter · centre island
Listed at $1,099,999, which is about 25% below what comparable homes suggest.
The ask and what recent sales support disagree. When they differ this much, the asking price has been the closer guide about 87% of the time. Recent GTA homes first listed this far below their automated estimate sold at about 100% of the original ask, in a median 19 days (715 sales).
Total price vs nearby homes. Fair value about $1.47M, learned from recent GTA sales.
The market behind the math:
About 1.7 months of inventory: 60 condo apartment homes for sale in the area against 106 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $383/sqft against an area asking average of $877/sqft. Size and $/sqft both feed the estimate above.
How this estimate is builtthe short version
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood and this building.
It never sees the asking price. The 8 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.35M. Condition and finishes remain an in-person call.
What the listing highlights5 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Upscale kitchen: a genuine value driver, verify the appliances, stone, and finishes in person. Value driver
- Pool: lifestyle appeal, but adds maintenance, insurance, and resale is mixed. Weigh carefully
- Primary suite: a key comfort and resale feature. Lifestyle
- Open-concept layout: modern, sought-after flow. Lifestyle
- Hardwood floors: quality hardwood is durable and broadly desirable. Lifestyle
Schools & getting aroundcatchment and transit
The assigned public school is Étienne Brûlé Junior School. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Mimico, so I widened the search to the surrounding area.
Based on 21 homes sold in this building over the past two years, from 523 closings in Mimico.
For sale
For sale
For sale
For sale
For sale
For sale
For sale
For saleNothing closely matching this home is listed nearby right now, so these are the nearest condo apartment listings on the market. Homes like this one have recently closed around $1.47M, which is where my estimate comes from.
Per square foot, these ask about $852/sqft; this home lists at $383/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 8 active listings nearby.
See all comparable homesNeighbourhood & location
Mimico, 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.
Also nearby: 8 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 4.24% via Ratehub.ca (as of September 21, 2026); conventional rates run a little higher.
Mortgage amount $879,999 · 4.39% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $4,817
- Property tax
- $474
- Condo / maintenance fees
- $3,105
- Heating
- $0
- Estimated monthly cost
- $8,396
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $18,475
- Toronto municipal land transfer tax
- $18,475
- Estimated closing costs
- $36,950
Plus your down payment of $220,000. 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
- $289,013
- Principal paid down
- $108,805
- Interest paid
- $180,208
- Balance remaining
- $771,194
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 numbersThe last 12 whole-home leases in Mimico signed at a median of $4,779 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $6,621. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of ROYAL LEPAGE SIGNATURE REALTY. MLS®/PropTx.