MLS® listing
488 University Avenue 3901: condo apartment for sale
$778,000
From the listing brokerage
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.
Facts on the listing
| Square feet | 600-699 |
|---|---|
| Style | Apartment |
| Basement | None |
| Parking spaces | 0 |
| Garage | None |
| Heating | Forced Air |
| Cooling | Central Air |
| Kitchens | 1 |
| Maintenance fee | $641 |
| Property tax | $4,074 |
| Tax year | 2026 |
| Locker | None |
| Pets | Yes-with Restrictions |
| Exposure | East |
| Fee includes | Common Elements Included, Building Insurance Included |
| Building amenities | Concierge, Elevator, Exercise Room, Gym, Indoor Pool, Party Room/Meeting Room |
| Balcony | Open |
| Laundry | Ensuite |
| Interior features | None |
| Floor | 22 |
Listing courtesy of FIRST CLASS REALTY INC.. MLS® C13725650.
About this condo apartment
488 University Avenue 3901 is a 2 bedroom condo apartment in TRREB's Kensington-Chinatown community in Toronto, listed for sale at $778,000. The listing shows 2 bathrooms and 600-699 square feet. The style is given as apartment. The unit faces east. The listing shows no parking space. The nearest main intersection given is University Ave at Dundas St. W..
These details come from the listing brokerage through TRREB's MLS® System. Room sizes, parking and locker ownership and what the fee covers should all be checked against the status certificate before an offer is firm.
Building amenities on the listing: concierge, elevator, exercise room, gym, indoor pool and party room/meeting room.
What it costs to buy 488 University Avenue 3901
At the asking price of $778,000, a buyer pays two land transfer taxes on closing: the Ontario tax and the City of Toronto's municipal tax. Both apply to every home inside the City.
| Asking price | $778,000 |
|---|---|
| Ontario land transfer tax | $12,035 |
| Toronto municipal land transfer tax | $12,035 |
| Both taxes | $24,070 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $52,800 |
The down payment figure is the federal minimum: 5 percent of the first $500,000 and 10 percent of the rest. A lender can ask for more. These figures use the asking price, so they change if you pay more or less. Legal fees, title insurance and adjustments are extra: ask your lawyer for a written quote. This is general information, not legal or tax advice. Confirm the figures with a lawyer or accountant. You can change the price in our land transfer tax calculator and our mortgage calculator.
What it costs to own each month
| Maintenance fee | $641 a month |
|---|---|
| Property tax (2026) | $4,074 a year, about $340 a month |
| Fee and tax together | about $981 a month |
The listing says the maintenance fee includes common elements and building insurance. That is before a mortgage payment, home insurance and any utilities the fee does not cover. Fees are set each year in the corporation's budget and can change. The status certificate shows the current fee, the budget behind it and the reserve fund.
How the asking price compares
TRREB recorded 885 condo apartment sales in the City of Toronto in August 2026, at a median price of $550,000 and an average of $651,648. This home is listed at $778,000, which is $228,000 above that median.
The median covers every neighbourhood, size and condition in the City of Toronto, so it is a reference point and not a valuation of this home. Location, size, lot, parking and condition all move the price. Our Toronto house prices page has the figures for every home type.
What to check before you make an offer
- Order the status certificate. A condo corporation must provide it within 10 days of a request and can charge up to $100. It shows the fee for this unit, any arrears, the budget, the reserve fund balance and any special assessment or lawsuit the corporation knows about.
- Have a lawyer read it. The certificate comes with the declaration, by-laws and rules. Ask what they say about pets, renting the unit and renovations. The listing gives pets as "Yes-with Restrictions".
- Confirm the parking and locker. Ask whether a space or a locker comes with the unit and whether one can be rented in the building.
- Check the reserve fund study. Ask when the last study was done and what it says about contributions.
- Get your financing in writing. A lender looks at the maintenance fee and the property tax as well as the price.
- See it in person. The listing has a virtual tour, but photos do not show noise, light at different hours or the state of the hallways and elevators.
Our first-time home buyer guide and our page for buyers walk through each step. This is general information, not legal advice. Confirm the details with a lawyer.
Toronto neighbourhoods and prices
Our neighbourhood guides set out TRREB prices by home type, transit and the housing in each area we cover.
Toronto neighbourhood guides · Toronto house prices · All Toronto homes for sale
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Questions about 488 University Avenue 3901
How much is land transfer tax on 488 University Avenue 3901?
At the asking price of $778,000 the Ontario tax is $12,035 and the Toronto tax is $12,035, $24,070 in total. A first-time buyer who qualifies can get up to $8,475 back. Confirm the final figures with your lawyer.
What is the minimum down payment for 488 University Avenue 3901?
$52,800 at the asking price of $778,000, under the federal minimum down payment rules. A lender may require more.
What is the maintenance fee at 488 University Avenue 3901?
The listing shows $641 a month, including common elements and building insurance. Check the current fee in the status certificate.
How much is the property tax on 488 University Avenue 3901?
The listing shows $4,074 a year for 2026, about $340 a month.
Is 488 University Avenue 3901 priced above or below the median?
It is listed at $778,000. The August 2026 median for condo apartment sales in the City of Toronto was $550,000 across 885 sales, so the asking price is $228,000 higher. The median covers all sizes and neighbourhoods.
How do I book a showing for 488 University Avenue 3901?
Use the form on this page or call us. Quote MLS® C13725650. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 488 University Avenue 3901 still for sale?
This page is refreshed from TRREB's MLS® System through the day. If the listing sells or is withdrawn the page says so. Contact us to confirm before you make plans.
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