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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421 58 Marine Parade Drive
Mimico Toronto M8V 4G1

$399,900
Residential Condo & Other beds: 0 baths: 1.0

Main Photo: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Photo 1: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Photo 2: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Photo 3: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Photo 4: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Photo 5: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Photo 6: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Photo 7: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Photo 8: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Photo 9: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
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Photo 22: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
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Photo 39: 421 58 Marine Parade Drive in Toronto: Mimico Condo Apartment for sale (Toronto W06)  : MLS®# W12835640
Status:
Active
Prop. Type:
Residential Condo & Other
MLS® Num:
W12835640
Bathrooms:
1
Experience refined waterfront living at Explorer in the prestigious Mimico/Humber Bay Shores community, just steps from the shores of Lake Ontario. This beautifully renovated studio residence offers an exceptional blend of style, comfort, & value in one of Toronto's most desirable waterfront neighbourhoods. Thoughtfully redesigned with a modern aesthetic, this bright open-concept suite features soaring 12-foot ceilings & dramatic floor-to-ceiling windows that create an airy, light-filled living space. The contemporary kitchen showcases sleek finishes & flows seamlessly into the principal living area, offering both functionality & elegance. Recent upgrades include a modern kitchen, new laminate flooring throughout and a spa-inspired 4-piece bathroom featuring a new soaker tub, designer porcelain tile, & a stylish modern vanity. A large closet & convenient ensuite laundry complete this well-appointed suite. Enjoy a true resort-style lifestyle with premium building amenities including an indoor pool, hot tub, sauna, fully equipped fitness centre, media room, elegant party room, resident lounge, business centre, concierge service, car wash, & ample visitor parking. Pet-friendly building (with restrictions). Parking & locker included. Set within the vibrant Humber Bay Shores waterfront community, this exceptional location is surrounded by parks, green space, & scenic lakefront trails. The Martin Goodman Trail is just outside your door, offering a spectacular cycling route to downtown in approximately 30 minutes. Enjoy unmatched convenience with cafés, restaurants, and Rabba Fine Foods steps away, while Metro, Sobeys, and Shoppers Drug Mart are just a short walk. Quick & easy access to the Gardiner Expressway places downtown Toronto minutes away. An outstanding opportunity to own a turnkey waterfront residence ideal for professionals, investors, or those seeking a sophisticated urban retreat. Pls see attached 2 & 3D virtual tours. Everything is done! Just move in & enjoy!
Property Type:
Residential Condo & Other
Property Sub Type:
Condo Apartment
Home Style:
Apartment
Total Approx Floor Area:
0-499
Exposure:
North West
Bedrooms:
0
Bathrooms:
1.0
Kitchens:
1
Bedrooms Above Grade:
0
Kitchens Above Grade:
1
Rooms Above Grade:
5
Heating type:
Heat Pump
Heating Fuel:
Electric
Storey:
4
Balcony:
None
Basement:
None
Fireplace/Stove:
No
Garage:
Underground
Garage Spaces:
1.0
Parking Features:
Underground
Parking Type:
Owned
Parking Spaces:
1
Total Parking Spaces:
1.0
Parking Spot #1:
19
Locker Number:
180
Locker Level:
4
Locker Unit:
180
Locker:
Owned
Family Room:
No
Possession Details:
30-60/TBA
HST Applicable To Sale Price:
Included In
Maintenance Fee:
$476.95
Maintenance fees include:
Heat Included, Water Included, CAC Included, Common Elements Included, Building Insurance Included, Parking Included
Taxes:
$1,500.63 / 2025
Assessment:
$- / -
Toronto
Toronto W06
Mimico
Carpet Free
Yes-with Restrictions
SS LG Fridge, B/I dishwasher, stove, over the rage microwave/rangehood, all ELFs
Concrete, Concrete Block
Floor
Type
Size
Other
Flat
Living Room
Measurements not available
Laminate, Open Concept, Combined w/Dining
Flat
Kitchen
Measurements not available
Modern Kitchen, Combined w/Living, Window Floor to Ceiling
Flat
Primary Bedroom
Measurements not available
Laminate, Combined w/Living, Window Floor to Ceiling
Flat
Laundry
Measurements not available
Floor
Ensuite
Pieces
Other
Flat
No
4
0' x 0' 4 Pc Bath, Porcelain Floor
Special Designation:
Unknown
Air Conditioning:
Central Air
Central Vacuum:
No
Seller Property Info Statement:
No
Laundry Access:
Ensuite
Laundry Level:
Main Level
Condo Corporation Number:
1826
Property Management Company:
GPM Property Management
Date Listed:
Mar 02, 2026
Original Price:
Previous Price:
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Listed by RE/MAX REALTRON REALTY INC.
Data was last updated March 3, 2026 at 06:15 AM (UTC)
Area Statistics
Listings on market:
189
Avg list price:
$649,900
Min list price:
$280,000
Max list price:
$4,250,000
Avg days on market:
36
Min days on market:
0
Max days on market:
720
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.
DARYL  KING
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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.

Explore More GTA Homes:

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.