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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3006 318 Richmond Street W

Waterfront Communities C1 Toronto M5V 0B4

$399,000

Residential Condo & Other beds: 1+1 baths: 1.0

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• Details
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Status:

Active

Prop. Type:

Residential Condo & Other

MLS® Num:

C12597096

Bedrooms:

1+1

Bathrooms:

1

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Welcome to Picasso on Richmond! This luxurious and bright south-facing 1+1 residence sits high above the city in the heart of Toronto's Financial and Entertainment Districts, offering a highly functional layout with a spacious den perfect for a home office. Floor-to-ceiling windows fill the open-concept living and kitchen area with abundant natural light, leading to an open balcony with clear, unobstructed views. This unit also features a rare, private same-floor locker, a unique convenience in the building. With an unbeatable Walk Score, you are just minutes to King & Queen St W, top restaurants, cafés, the PATH, TTC streetcar, CN Tower, Rogers Centre, Fashion District, and every downtown attraction. Enjoy premium building amenities including 24-hour concierge, yoga & pilates studio, spa facilities, media room, billiards room, sauna, and a fully equipped fitness centre-perfect for end-users and investors seeking a modern, bright, and exceptionally located home in one of Toronto's most iconic buildings. A must see !

General Info:

Property Type:

Residential Condo & Other

Property Sub Type:

Condo Apartment

Home Style:

Apartment

Total Approx Floor Area:

600-699

Exposure:

South

Bedrooms:

1+1

Bathrooms:

1.0

Kitchens:

1

Bedrooms Above Grade:

1

Bedrooms Below Grade:

1

Kitchens Above Grade:

1

Rooms Above Grade:

4

Additional Info:

Heating type:

Forced Air

Heating Fuel:

Gas

Storey:

29

Balcony:

Open

Basement:

None

Fireplace/Stove:

No

Garage:

Underground

Garage Spaces:

0.0

Parking Type:

None

Parking Spaces:

0

Total Parking Spaces:

0.0

Locker Level:

29

Locker Unit:

12

Locker:

Owned

Family Room:

Yes

Possession Details:

Flexible/TBA

Financial Info:

HST Applicable To Sale Price:

Included In

Maintenance Fee:

$567.43

Maintenance fees include:

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

Taxes:

$3,423.55 / 2025

Assessment:

$- / -

County:

Toronto

Listing Area:

Toronto C01

Listing Sub-Area:

Waterfront Communities C1

Interior Features:

Built-In Oven, Carpet Free, Separate Hydro Meter

Pets Permitted:

Yes-with Restrictions

Inclusions:

Built-In Fridge, Built-In Oven, Built-In Dishwasher, Microwave, Washer/Dryer Combo, All Elfs, Window Coverings If Any, One (1) Locker.

Exclusions:

n/a

Exterior Finish:

Concrete

View:

City, Panoramic, Downtown

Room Information:

Floor

Type

Size

Other

Flat

Primary Bedroom

11'3"3.43 m × 10'3.05 m

Carpet Free, 4 Pc Bath, B/I Closet

Flat

Living Room

16'3"4.95 m × 15'5"4.70 m

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

Flat

Dining Room

16'3"4.95 m × 15'5"4.70 m

Combined w/Living, Laminate, Open Concept

Other Details:

UFFI:

No

Special Designation:

Unknown

Air Conditioning:

Central Air

Central Vacuum:

No

Seller Property Info Statement:

No

Laundry Access:

Ensuite

Laundry Level:

Main Level

Business Info:

Condo Corporation Number:

2547

Property Management Company:

Crossbridge Condominium Services

Listing Info:

Date Listed:

Dec 03, 2025

Original Price:

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Previous Price:

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Listed by TOP ASSETS REALTY INC.

Data was last updated December 5, 2025 at 04:15 AM (UTC)

Area Statistics

Listings on market:

681

Avg list price:

$699,800

Min list price:

$349,900

Max list price:

$22,500,000

Avg days on market:

49

Min days on market:

0

Max days on market:

658

These statistics are generated based on the current listing's property type and located in Waterfront Communities C1. 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.