MLS® listing
506 Adelaide Street W: townhouse for sale
$2,100,000
From the listing brokerage
Mixed-use investment opportunity in Toronto's King West/Fashion District. The main floor and basement provide retail commercial space, with one residential unit on each of the second and third floors. Both residential units have been recently updated; the second-floor unit is expected to be vacant by November 30. Annual income is approximately $141,000, providing strong holding income and a reported cap rate above 5%. The property's historic character and Adelaide Street West location add long-term appeal. Potential for future redevelopment or adaptive reuse, subject to heritage requirements?merolinx approval and municipal approvals. One year FREE Property Management included, Ask LA for details. NOTE: One seller is a Registered Real Estate Saleperson. 2421 sq feet (2949 including basement)
Facts on the listing
| Square feet | 2000-2500 |
|---|---|
| Style | 3-Storey |
| Basement | Unfinished |
| Lot width | 16.45 |
| Lot depth | 85 |
| Lot measured in | Feet |
| Faces | North |
| Parking spaces | 2 |
| Garage | None |
| Heating | Forced Air |
| Cooling | None |
| Kitchens | 2 |
| Property tax | $23,560 |
| Tax year | 2026 |
| Parking | Lane |
| Interior features | Other |
| Features | Library, Park, Public Transit, School |
| View | City |
Listing courtesy of HARVEY KALLES REAL ESTATE LTD.. MLS® C13832346.
About this townhouse
506 Adelaide Street W is a 4 bedroom townhouse in TRREB's Waterfront Communities C1 community in Toronto, listed for sale at $2,100,000. The listing shows 3 bathrooms and 2000-2500 square feet. The style is given as 3-storey. The lot is listed as 16.45 by 85 feet. The listing gives the basement as unfinished. It comes with 2 parking spaces according to the listing. The nearest main intersection given is Bathurst St & Adelaide St W.
These details come from the listing brokerage through TRREB's MLS® System. Room sizes, the lot, the taxes and what is included in the sale should all be confirmed before an offer is firm.
What it costs to buy 506 Adelaide Street W
At the asking price of $2,100,000, 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 | $2,100,000 |
|---|---|
| Ontario land transfer tax | $38,975 |
| Toronto municipal land transfer tax | $38,975 |
| Both taxes | $77,950 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $420,000 |
The down payment figure is the federal minimum: 20 percent, because a home at $1.5 million or more cannot carry mortgage default insurance. A lender can ask for more. These figures use the asking price, so they change if you pay more or less. The rates above $2,000,000 used here are the ones for a home with one or two single family residences. A property with more units is taxed differently. 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
| Property tax (2026) | $23,560 a year, about $1,963 a month |
|---|
That is before a mortgage payment, home insurance and utilities. The listing shows no monthly maintenance fee, so upkeep of the building and the lot is the owner's own cost.
How the asking price compares
TRREB recorded 45 freehold townhouse sales in the City of Toronto in August 2026, at a median price of $962,000 and an average of $1,026,018. This home is listed at $2,100,000, which is $1,138,000 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
- Book a home inspection. An inspector looks at the roof, foundation, wiring, plumbing and heating. The listing gives the heating as forced air.
- Have a lawyer search the title. A title search shows mortgages, liens and easements registered against the property. Ask whether a survey exists and whether it matches the lot on the listing, 16.45 by 85 feet.
- Ask about permits. Ask which renovations had building permits and whether those permits were closed. The listing shows 2 kitchens. If there is a second unit, ask whether it meets the municipality's rules for one.
- Confirm what is included. Appliances, light fixtures and window coverings are included only if the agreement says so. Ask whether the water heater or furnace is rented.
- Get your financing in writing. A lender looks at the property tax and heating costs as well as the price.
- See it in person. Photos do not show noise, light at different hours or the state of the street and the homes beside it.
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.
About Downtown Waterfront
A condo market between the rail corridor and the lake, with Union station at its north edge. Almost every sale here is a condo apartment.
Transit: Union station (Line 1 and GO), St Andrew station (Line 1), Exhibition GO to the west, 509 Harbourfront, 510 Spadina and 504 King streetcars, 121 Esplanade-River bus
| Property type | Median | Sales and average |
|---|---|---|
| Waterfront Communities C1, all property types | $610,000 | 401 sales, average $730,812 |
| Waterfront Communities C1, condo apartment | About $607,000 | 396 sales, average about $726,000 |
| Waterfront Communities C1, condo townhouse | About $890,000 | 3 sales, average about $927,000 |
| Waterfront Communities C8, all property types | $597,500 | 114 sales, average $716,565 |
| Waterfront Communities C8, condo apartment | About $595,000 | 113 sales, average about $712,000 |
Source: TRREB community housing market reports, as set out in the guide.
Questions about Downtown Waterfront
What do waterfront condos in Toronto sell for?
From April to June 2026 TRREB recorded a condo apartment median of about $607,000 across 396 sales in Waterfront Communities C1 and about $595,000 across 113 sales in Waterfront Communities C8.
Is the downtown waterfront a good place to live without a car?
For transit it is well placed, with Union station for Line 1 and GO trains, St Andrew station on Line 1 and the 509 Harbourfront, 510 Spadina and 504 King streetcars. Exhibition GO is to the west.
Are there houses for sale on the downtown waterfront?
Very few. TRREB recorded no detached sales in either community from April to June 2026 and only one or two freehold sales, while 509 of the 515 sales were condo apartments.
Which parks are on the waterfront?
City parks include HTO Park, Sugar Beach Park, Sherbourne Common, Canoe Landing, Roundhouse Park, Berczy Park and David Crombie Park.
Are there community centres and libraries nearby?
Canoe Landing Community Recreation Centre is at 45 Fort York Boulevard and St. Lawrence Community Recreation Centre at 230 The Esplanade. The Toronto Public Library has Fort York and St. Lawrence branches.
Read the Downtown Waterfront neighbourhood guide · All Downtown Waterfront homes for sale
Similar homes for sale in Downtown Waterfront
$999,100Questions about 506 Adelaide Street W
How much is land transfer tax on 506 Adelaide Street W?
At the asking price of $2,100,000 the Ontario tax is $38,975 and the Toronto tax is $38,975, $77,950 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 506 Adelaide Street W?
$420,000 at the asking price of $2,100,000, under the federal minimum down payment rules. A lender may require more.
How much is the property tax on 506 Adelaide Street W?
The listing shows $23,560 a year for 2026, about $1,963 a month.
Is 506 Adelaide Street W priced above or below the median?
It is listed at $2,100,000. The August 2026 median for freehold townhouse sales in the City of Toronto was $962,000 across 45 sales, so the asking price is $1,138,000 higher. The median covers all sizes and neighbourhoods.
How do I book a showing for 506 Adelaide Street W?
Use the form on this page or call us. Quote MLS® C13832346. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 506 Adelaide Street W 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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