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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1607 3 Marine Parade Drive

Mimico Toronto M8V 3Z5

$280,000

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:

W12753654

Bedrooms:

1

Bathrooms:

1

• Photos (42)

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Two Connected Units Sold as One At Hearthstone by the Bay Retirement Living. This unique opportunity includes two separately registered yet physically connected condos: Unit 1607 (611 sq.ft.) and Unit 1606 (over 1,266 sq.ft.) offered together as one expansive residence totaling over 1,800 sq.ft. A rare and truly unique offering: this combined suite features traditional finishes, hardwood floors, and a smart winged layout perfect for flexibility and privacy. One side (1607) includes a one-bedroom suite with lounge/den, full bath, and laundry. The other (1606) offers two bedrooms, two baths, and bright, open-concept living, dining, and solarium areas. Easily walk through both sides via an internal connection, or close them off in the future if desired. Enjoy northwest corner exposure with glowing sunsets and a peek at the lake. Located in Hearthstone by the Bay a vibrant retirement condominium community by the waterfront. You'll own your suite while enjoying the convenience of a full-service lifestyle. Included in the *mandatory* monthly service package: housekeeping, select meals, 24-hour nurse access, fitness classes, daily activities, shuttle service, and more. Personal care services available as needed (up to 24/7).Downsize without compromise this is retirement living redefined. EXTRAS: Mandatory Club Fee: $1,990.85 + HST/month (1 occupant) Additional Occupant: $274.34 + HST/month Includes: Movie Theatre, Hair Salon, Pub, Billiards Area, Outdoor Terrace & More. See Schedule for More Info.

General Info:

Property Type:

Residential Condo & Other

Property Sub Type:

Condo Apartment

Home Style:

Apartment

Total Approx Floor Area:

600-699

Exposure:

North

Bedrooms:

1

Bathrooms:

1.0

Kitchens:

0

Bedrooms Above Grade:

1

Kitchens Above Grade:

0

Rooms Above Grade:

3

Additional Info:

Heating type:

Forced Air

Heating Fuel:

Gas

Storey:

13

Balcony:

Open

Basement:

None

Fireplace/Stove:

No

Garage:

Underground

Garage Spaces:

1.0

Parking Features:

None

Parking Type:

Owned

Parking Spaces:

1

Total Parking Spaces:

1.0

Locker Unit:

B87

Locker:

Owned

Family Room:

Yes

Possession Details:

Tbd

Financial Info:

HST Applicable To Sale Price:

Included In

Maintenance Fee:

$670.02

Maintenance fees include:

Heat Included, Water Included, CAC Included, Common Elements Included, Building Insurance Included

Taxes:

$1,595 / 2025

Assessment:

$- / -

County:

Toronto

Listing Area:

Toronto W06

Listing Sub-Area:

Mimico

Property Features / Area Influences:

Hospital, Lake/Pond, Marina, Park, Public Transit

Interior Features:

Other

Pets Permitted:

Yes-with Restrictions

Inclusions:

Fridge, Dishwasher, Microwave, Washer & Dryer, All Electric Light Fixtures, All Window Coverings. 1 Locker. 1 Parking.

Exterior Finish:

Concrete

Building Amenities:

Concierge, Gym, Indoor Pool, Media Room, Recreation Room, Visitor Parking

Elevator:

Yes

Room Information:

Floor

Type

Size

Other

Main

Living Room

13'9"4.19 m × 10'6"3.20 m

Hardwood Floor, B/I Fridge, B/I Shelves

Main

Bedroom

10'2"3.10 m × 9'10"3.00 m

Window Floor to Ceiling, Hardwood Floor, W/O To Balcony

Main

Sunroom

10'2"3.10 m × 6'3"1.91 m

Hardwood Floor, Closet, Window Floor to Ceiling

Other Details:

Special Designation:

Unknown

Air Conditioning:

Central Air

Central Vacuum:

No

Seller Property Info Statement:

No

Laundry Access:

Ensuite

Business Info:

Condo Corporation Number:

2078

Property Management Company:

Charles Garth MacGirr (Executor, Thomas Sheppard)

Listing Info:

Date Listed:

Feb 03, 2026

Original Price:

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Previous Price:

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Listed by Royal Lepage Real Estate Associates, Larose Team

Data was last updated February 4, 2026 at 07:15 PM (UTC)

Area Statistics

Listings on market:

187

Avg list price:

$649,800

Min list price:

$280,000

Max list price:

$4,250,000

Avg days on market:

32

Min days on market:

1

Max days on market:

693

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

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• 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.