Looking for condos for sale in Toronto under 400K? These entry-level listings offer great value in one of Canada’s most in-demand real estate markets. Whether you’re buying your first home or adding to your portfolio, these condos are a smart place to start.

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103 40 Homewood Avenue

Cabbagetown-South St. James Town Toronto M4Y 2K2

$380,000

Residential Condo & Other beds: 1 baths: 1.0

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• Details
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Status:

Active

Prop. Type:

Residential Condo & Other

MLS® Num:

C12827036

Bedrooms:

1

Bathrooms:

1

• Photos (12)

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Welcome to this thoughtfully designed condo offering a bright, spacious, and open-concept layout - perfect for modern city living! For sale for the first time by the original owner, this suite presents exceptional value for both end users and investors alike. The generously sized bedroom features ample closet space and floor-to-ceiling windows that fill the room with natural light. Step outside to your expansive west-facing balcony/terrace, ideal for summer lounging or entertaining guests - there's plenty of room for a full patio set. Enjoy the sunshine by day and take in the stunning sunsets by night with green views that stretch across the property. Situated between Cabbagetown and The Village, this prime location offers the perfect blend of character, convenience, and community. The building itself fosters a strong sense of belonging, with regular social events, a welcoming mix of residents of all ages, and an inclusive, friendly atmosphere that's hard to find in the heart of downtown. You'll also enjoy very low maintenance fees that cover everything - including heat, hydro, water, Bell Fibe high-speed internet, and cable TV. A large locker is included for added storage convenience. Outstanding amenities include an indoor pool, sauna, gym, guest suites, bike storage, EV charging stations, visitor parking, library, and meeting/party room - providing comfort, connection, and convenience all under one roof. Just minutes from the Downtown Core, TMU, U of T, The Village, and an array of top-rated restaurants, cafes, and shops, with easy access to the DVP and Gardiner Expressway. This condo offers the best of downtown living - a vibrant community, full-service amenities, and unbeatable value - all in one exceptional package.

General Info:

Property Type:

Residential Condo & Other

Property Sub Type:

Condo Apartment

Home Style:

1 Storey/Apt

Total Approx Floor Area:

500-599

Exposure:

West

Bedrooms:

1

Bathrooms:

1.0

Kitchens:

1

Bedrooms Above Grade:

1

Kitchens Above Grade:

1

Rooms Above Grade:

4

Additional Info:

Heating type:

Baseboard

Heating Fuel:

Electric

Storey:

1

Balcony:

Open

Basement:

None

Fireplace/Stove:

No

Garage:

Underground

Garage Spaces:

1.0

Parking Type:

Exclusive

Parking Spaces:

1

Total Parking Spaces:

1.0

Locker:

Exclusive

Family Room:

No

Possession Details:

Flexible

Financial Info:

HST Applicable To Sale Price:

Included In

Maintenance Fee:

$594.33

Maintenance fees include:

Heat Included, Hydro Included, Water Included, Cable TV Included, Common Elements Included, Building Insurance Included, Parking Included

Taxes:

$1,745.31 / 2025

Assessment:

$- / -

County:

Toronto

Listing Area:

Toronto C08

Listing Sub-Area:

Cabbagetown-South St. James Town

Interior Features:

None

Pets Permitted:

Yes-with Restrictions

Rental Items:

None.

Inclusions:

Fridge, Stove, Electric Light Fixtures.

Exclusions:

None

Exterior Finish:

Brick

Room Information:

Floor

Type

Size

Other

Flat

Kitchen

10'3¼"3.13 m × 6'7½"2.02 m

Ceramic Floor

Flat

Living Room

13'11"4.24 m × 13'4¼"4.07 m

Ceramic Floor, Open Concept, Walk-Out

Flat

Dining Room

13'11"4.24 m × 13'4¼"4.07 m

Ceramic Floor, Open Concept, W/O To Balcony

Flat

Bedroom

12'11⅛"3.94 m × 10'4"3.15 m

Ceramic Floor, His and Hers Closets, Large Window

Other Details:

Special Designation:

Unknown

Air Conditioning:

Window Unit(s)

Central Vacuum:

No

Seller Property Info Statement:

No

Laundry Access:

Coin Operated

Business Info:

Condo Corporation Number:

75

Property Management Company:

ICC Property Management

Listing Info:

Date Listed:

Feb 27, 2026

Original Price:

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Previous Price:

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Listed by ROYAL LEPAGE MEADOWTOWNE REALTY

Data was last updated February 28, 2026 at 04:15 PM (UTC)

Area Statistics

Listings on market:

25

Avg list price:

$575,000

Min list price:

$380,000

Max list price:

$1,349,000

Avg days on market:

39

Min days on market:

1

Max days on market:

320

These statistics are generated based on the current listing's property type and located in Cabbagetown-South St. James Town. Average values are derived using median calculations. This data is not produced by the MLS® system.

Get market change alerts

• DARYL KING
• RE/MAX HALLMARK REALTY LIMITED
• 1 (905) 9075464
• homes@darylking.com

This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.

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Features of Condos for Sale in Toronto Under 400K

Affordable units in this price range typically offer:

• Studio or 1-bedroom layouts ideal for singles or couples
• Functional kitchens, open living space, and in-building laundry
• Access to TTC, grocery stores, and local amenities
• Older buildings with good structure and lower tax rates

Why Choose Toronto Condos Priced Under $400,000

• Ideal for first-time buyers or downsizers on a budget
• Lower monthly payments with CMHC-backed mortgage eligibility
• Opportunities to renovate or rent out for passive income
• Reduced land transfer tax and closing costs

Where to Find Condos for Sale in Toronto Under 400K

Great value can be found in neighbourhoods such as Weston, Scarborough, East York, and parts of North York. Many buildings here offer established communities and access to transit.

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Each link provides updated listings and expert insights.

FAQs – Condos for Sale in Toronto Under 400K

1. Are there move-in-ready condos under 400K in Toronto?
Yes. While some need updates, others are renovated and ready for immediate occupancy.

2. Can I get a mortgage with just 5% down on these properties?
Yes. As long as the unit price is under $500K and you qualify, you can buy with 5% down.

3. Do condos under 400K come with parking or storage?
Some do, but it’s not guaranteed. Be sure to check individual listings for included amenities.

4. Are Toronto condos under $400K a good investment?
Absolutely. They’re affordable entry points into a strong market, often located in up-and-coming areas.