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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514 4 Elsinore Path

New Toronto Toronto M8V 4G7

$309,000

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:

W13771022

Bedrooms:

1

Bathrooms:

1

• Photos (22)

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Welcome to The Wave at 4 Elsinore Path, where comfort, convenience and lakeside living come together in the heart of South Etobicoke. This bright and well-designed 1 Bedroom, 1 Bathroom condo offers an open-concept layout, perfect for entertaining, with the added convenience of a full-size in-suite laundry room providing extra storage and everyday functionality. Walkout to the Balcony, to enjoy your morning coffee, tea or just relax reading a book and the expansive unobstructed views and plentiful natural light enhance the home's bright and airy feel from morning to evening. The Wave is a well-maintained boutique-style condominium including a business centre, visitor parking, and secure entry. Ideally situated in the vibrant Lakeshore Village community, you're just minutes from Humber College's Lakeshore Campus, Lake Ontario, waterfront parks and trails, local cafés, restaurants, shopping, and everyday conveniences. Commuting is effortless with TTC transit at your doorstep, easy access to Mimico GO Station, the Gardiner Expressway, Highway 427, and the QEW, making travel throughout Toronto and the GTA a breeze. Whether you're a first-time buyer, investor, or downsizer, this is an excellent opportunity to enjoy an affordable lifestyle in one of Etobicoke's most desirable waterfront neighbourhoods.

General Info:

Property Type:

Residential Condo & Other

Property Sub Type:

Condo Apartment

Home Style:

Apartment

Total Approx Floor Area:

500-599

Exposure:

North

Bedrooms:

1

Bathrooms:

1.0

Kitchens:

1

Bedrooms Above Grade:

1

Kitchens Above Grade:

1

Rooms Above Grade:

4

Additional Info:

Heating type:

Forced Air

Heating Fuel:

Gas

Storey:

5

Balcony:

Open

Basement:

None

Fireplace/Stove:

No

Garage:

Underground

Garage Spaces:

1.0

Parking Type:

Owned

Parking Spaces:

1

Total Parking Spaces:

1.0

Locker:

None

Family Room:

No

Possession Details:

TBD

Financial Info:

HST Applicable To Sale Price:

Included In

Maintenance Fee:

$742.74

Maintenance fees include:

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

Taxes:

$1,619 / 2026

Assessment:

$- / -

County:

Toronto

Listing Area:

Toronto W06

Listing Sub-Area:

New Toronto

Interior Features:

None

Pets Permitted:

Yes-with Restrictions

Inclusions:

All existing electrical light fixtures; stainless steel refrigerator, stainless steel stove, stainless steel built-in dishwasher, stainless steel range hood; stacked clothes washer and dryer.

Exclusions:

N/A

Exterior Finish:

Brick

Building Amenities:

Bike Storage, Elevator, Party Room/Meeting Room, Visitor Parking

Room Information:

Floor

Type

Size

Other

Main

Dining Room

14'5¼"4.40 m × 9'10"3.00 m

Combined w/Dining, Open Concept

Main

Kitchen

8'10"2.69 m × 6'6¾"2.00 m

Open Concept, Modern Kitchen

Main

Primary Bedroom

10'2"3.10 m × 9'10"3.00 m

Closet, Large Closet, Window

Main

Foyer

4'7⅛"1.40 m × 4'3"1.30 m

Main

Living Room

14'5¼"4.40 m × 9'10"3.00 m

Combined w/Dining, W/O To Balcony, W/O To Balcony

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:

1854

Property Management Company:

TRIBE

Listing Info:

Date Listed:

Sep 11, 2026

Original Price:

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Previous Price:

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Listed by RE/MAX REALTY SPECIALISTS INC.

Data was last updated September 12, 2026 at 04:15 PM (UTC)

Area Statistics

Listings on market:

250

Avg list price:

$649,400

Min list price:

$309,000

Max list price:

$4,099,900

Avg days on market:

35

Min days on market:

1

Max days on market:

366

These statistics are generated based on the current listing's property type and located in Toronto W06. 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.