$1.28M · 2 bed Condo Apartment · Mimico, Toronto

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About this home

Welcome to the prestigious Palace Pier, recipient of the "Condo of the Year" award, where luxury living meets resort-style amenities on Toronto's waterfront. This beautifully refreshed 1,550 sq ft residence offers an exceptional layout with 2 spacious bedrooms, 2 parking spots, and 1 locker.Designed for both comfort and entertaining, the expansive living and dining areas are filled with natural light from floor-to-ceiling windows showcasing breathtaking unobstructed views. Recent upgrades includ…

Property details

MLS#

W12867042

Status

Buy Now

Beds

Baths

2 full, 0 half

Size

1400-1599

Style

Apartment

Type

Condo Apartment

Year built

—

Property features: Lake Access, Library, Marina, Park, Public Transit, Waterfront

View: Lake, Water

Water view: Partially Obstructive

Building name: Palace Pier
Condo corp #: 382
Balcony: None
Locker: Exclusive
Association amenities: BBQs Allowed, Concierge, Elevator, Exercise Room, Guest Suites
Fees include: Heat Included, Hydro Included, Water Included, Cable TV Included, CAC Included, Common Elements Included, Building Insurance Included, Parking Included
Pets: Yes-with Restrictions

Garage: 2-car Underground
Garage spaces: 2
Parking: 2 total
Heating: Baseboard
Heating fuel: Gas
Cooling: Central Air
Fireplaces: —
Exterior: Concrete
Fronting on: —
Cross street: Park Lawn and Lake Shore
Basement: None
Stories: 15
Utilities: —
Laundry: Ensuite, Inside
Interior: Carpet Free, Primary Bedroom - Main Floor
Parking features: None

Level	Room	Dimensions
Flat	Living Room	4.56m × 5.13m
Flat	Dining Room	5.37m × 3.5m
Flat	Kitchen	2.63m × 4.13m
Flat	Solarium	1.8m × 1.8m
Flat	Primary Bedroom	3.32m × 4.67m
Flat	Bedroom 2	2.7m × 4.45m

Level

Room

Dimensions

Flat

Living Room

4.56m × 5.13m

Flat

Dining Room

5.37m × 3.5m

Flat

Kitchen

2.63m × 4.13m

Flat

Solarium

1.8m × 1.8m

Flat

Primary Bedroom

3.32m × 4.67m

Flat

Bedroom 2

2.7m × 4.45m

Annual costs

Monthly carrying costs, utilities, and closing cost estimates.

Pre-filled from listing✓ $1,279,000✓ $3,529 tax✓ Gas✓ 1400-1599 ft²✓ Ontario· Listing facts below · Ontario averages for utilities — drag sliders to match your home

Monthly all-in

$10,995/mo

incl. closing costs (yr 1)

Annual total

$131,944

year 1

Mortgage only

$4,852/mo

principal + interest

Beyond mortgage

$3,847/mo

taxes, utilities, upkeep

Financing

Purchase price

Down payment20%$255,800

20%+ down — no CMHC premium

Mortgage rate3.00%

Amortization

Province

Government

Property tax (annual)from listing$294/mo

Utilities

Hydro / electricity$75/mo

≈ $0.07/ft² × ~1,500 ft² · ON avg ~$75/mo

Gas$125/mo

Typical ON gas-heated home · ~$125/mo

Water / sewer$60/mo

ON municipal avg ~$60/mo

Internet / TV / phone$70/mo

ON internet/TV avg ~$70/mo

Maintenance & upkeep

Maintenance reserve1.0%$12,790/yr

1% of value/yr — standard reserve

Landscaping & snow$0/mo

Landscaping & snow removal · $0 default

Home insurance$100/mo

$100/mo default · adjust for your home

Security system$0/mo

Optional monitoring · $0 default

Condo / HOA fees (mo)$171/mo

From listing or typical fee

Closing costs (one-time, year 1)

Land transfer tax (ON)computed$22,055

Legal / lawyer fees

Home inspection

Title insurance

Moving costs

CMHC premiumNone (20%+ down)

Cost composition

Mortgage (P+I)44% $58,226/yr

Property taxes19% $25,584/yr

Utilities3% $3,960/yr

Insurance & security1% $1,600/yr

Maintenance10% $12,790/yr

Condo fees19% $24,684/yr

Closing costs4% $5,100/yr

Mortgage is 44% of your true cost of ownership. The other 56% surprises most first-time buyers.

Full breakdown

Mortgage & financing
Mortgage (P+I)	$58,226	$4,852/mo
Government & taxes
Property tax	$3,529	$294/mo
Land transfer tax(closing)	$22,055	$1,838/mo
Insurance & protection
Home insurance	$1,200	$100/mo
Title insurance(closing)	$400	$33/mo
Utilities
Hydro / electricity	$900	$75/mo
Gas	$1,500	$125/mo
Water & sewer	$720	$60/mo
Internet / TV / phone	$840	$70/mo
Maintenance & upkeep
Maintenance reserve (1.0%)	$12,790	$1,066/mo
Condo fees
Condo / HOA fees	$24,684	$2,057/mo
Closing costs (one-time)
Legal / lawyer(closing)	$2,500	$208/mo
Home inspection(closing)	$600	$50/mo
Moving costs(closing)	$2,000	$167/mo
Total	$131,944	$10,995/mo

Listing facts below · Ontario averages for utilities — drag sliders to match your home. CMHC added to loan principal only — not double-counted in chart.

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Unit 1607

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Annual costs