Skip to main

    488 University Avenue

    The Residences of 488 University Avenue
    14for Sale
    26for Rent

    Building Highlights

    Property Type:

    Condo

    Number of Storeys:

    55

    Number of Units:

    453

    Condo Completion:

    2017

    Condo Demand:

    Medium

    Unit Size Range:

    544 - 1,699 SQFT

    Unit Availability:

    Low

    Property Management:

    Duka Property Management Inc.

    Amenities

    Squash Court
    Lap Pool
    Party Room
    Concierge
    Rooftop Deck
    Indoor Pool
    Sauna
    Bike Storage
    Games Room
    Gym
    Media Room
    Outdoor Pool

    About 488 University AvenueThe Residences of 488 University Avenue

    Once the site of an office building, 480 University Avenue was repurposed to serve as the foundation for The Residences of 488 University Avenue. Rising to 55-storeys above a stunning glass podium, this building is certain to be a fixture of the Grange Park neighbourhood for decades to come.

    This property provides residents with many modern amenities: outdoor pool, indoor pool, hot tub, spa, full fitness centre, Sky Club lounge, shared rooftop patio, visitor lounge, parking garage, and more.

    Given its central location and wealth of amenities — Toronto condos for sale in this building are a great choice for students and faculty of Ryerson and U of T, young professionals, and couples who are seeking a new condo with convenient TTC service nearby and quick access to the best of what Toronto has to offer.

    The Suites

    Condos at 488 University Avenue are modern and stylish, ranging in size from 544 square feet for a 1 bedroom, to 1640 for the largest 3 bedroom suite; there are a variety of floor plan and exposures for 1 bedroom and 2 bedroom units, so residents have some selection when it comes to layout.

    These downtown Toronto condos boast executive features: designer pre-engineered hardwood floors, 10 foot ceilings, floor to ceiling windows, European inspired custom cabinets, stainless steel appliances, high-end countertops and backsplashes, soaker tubs in the bathroom, and all units have a private terrace.

    For those who love to entertain, there is an exclusive restaurant and bar on site, which is certain to impress your friends and family.

    The Neighbourhood

    The Grange Park neighbourhood is named after the park on Beverley and McCaul Street — a quaint green space with a playground, dog park, and plenty of tree-shrouded benches. This central location is near hospitals, universities, the Eaton Centre, and just a short subway ride from major attractions in the Entertainment District.

    Caffeine addicts will have no trouble getting their fix in this area — The Residences of 488 University Avenue is next door to Avenue Cafe + Bistro, and if that isn’t enough, stroll along Dundas Street and you’ll encounter The Library Specialty Coffee, Crafted Bean Coffee, Java Joe's and many others.

    With a condo at 488 University Avenue you’ll never be short on entertainment; you can walk to the Eaton Centre and shop the day way, enjoy a drink in a pub on Dundas like the Village Idiot Pub which is just minutes away. To the east there’s concert venues such as Massey Hall and the Phoenix Concert Theatre. And sports fans are only a short trip from Scotiabank Arena and the Rogers Centre.

    If you’re too lazy to cook there’s Cafe Plenty around the corner — plus Gallery Sushi, Provo FoodBar, AGO Bistro, and so many more.

    Transportation

    488 University Avenue has a 99 Walk Score, perfect for residents who prefer to run errands without a vehicle or public transit. For those who do require TTC service, there are streetcars on Dundas, buses on University, and St Patrick Stations is 2 minutes away for subway lines.

    Drivers can reach the Don Valley Parkway by travelling north on University, and then east on Bloor to the Danforth on ramp. For the Gardiner Expressway, head south on University to York Street for quick access.

    Maintenance Fees

    Included in Fees
    Water
    Not Included
    Hydro
    Heat
    Air Conditioning

    Listing History for The Residences of 488 University Avenue

    Apr 08, 2025 34 days on Strata
    leased

    $4,000Down from $4,200
    5408 - 488 University Ave
    2
    2
    1
    960 Sqft
    Apr 08, 2025 67 days on Strata
    terminated

    $1,349,000
    5408 - 488 University Ave
    2
    2
    1
    960 Sqft
    Receive listing updates for Grange Park

    Reviews for The Residences of 488 University Avenue

    No reviews yet. Be the first to leave a review!

    14

    Listings For Sale

    Interested in receiving new listings for sale?

    26

    Listings For Rent

    Interested in receiving new listings for rent?

    488 University Ave, unit 2809 for rent
    $2,400/mth
    Price Cut: $100 (Apr 4)
    488 university aveGrange ParkUnit 2809
    1 Bed1 Bath544 SQFT0 Parking
    Available May 1, 2025
    488 University Ave, unit 2709 for rent
    $2,450/mth
    488 university aveGrange ParkUnit 2709
    1 Bed1 Bath500 - 599 SQFT0 Parking
    Available May 8, 2025
    488 University Ave, unit 2009 for rent
    $2,500/mth
    488 university aveGrange ParkUnit 2009
    1 Bed1 Bath584 SQFT0 Parking
    Available May 1, 2025
    488 University Ave W, unit 3312 for rent
    $2,850/mth
    488 university ave wGrange ParkUnit 3312
    1 Bed + 11 Bath700 SQFT0 Parking
    Available Mar 6, 2025
    488 University Ave N, unit 2701 for rent
    $2,950/mth
    488 university ave nGrange ParkUnit 2701
    1 Bed + 12 Baths800 - 899 SQFT0 Parking
    Available To Be Determined
    488 University Ave, unit 3015 for rent
    488 university aveGrange Park
    1 Bed + 11 Bath617 SQFT0 Parking
    Available Jun 10, 2025
    488 University Ave, unit 3601 for rent
    $2,950/mth
    488 university aveGrange ParkUnit 3601
    1 Bed + 12 Baths675 SQFT0 Parking
    Available Mar 6, 2025
    488 University Ave, unit 3406 for rent
    488 university aveGrange Park
    1 Bed + 11 Bath674 SQFT0 Parking
    Available Jun 1, 2025
    488 University Ave, unit 2106 for rent
    $2,995/mth
    488 university aveGrange ParkUnit 2106
    1 Bed + 11 Bath600 - 699 SQFT0 Parking
    Available Jun 1, 2025
    488 University Ave, unit 2308 for rent
    $3,000/mth
    488 university aveGrange ParkUnit 2308
    2 Beds2 Baths800 - 899 SQFT0 Parking
    Available Immediately
    488 University Ave, unit 4206 for rent
    $3,050/mth
    488 university aveGrange ParkUnit 4206
    1 Bed + 11 Bath740 SQFT0 Parking
    Available Immediately
    488 University Ave, unit 3805 for rent
    $3,250/mth
    Price Cut: $100 (Mar 28)
    488 university aveGrange ParkUnit 3805
    2 Beds2 Baths700 - 799 SQFT0 Parking
    Available May 15, 2025
    488 University Ave, unit 3711 for rent
    $3,300/mth
    488 university aveGrange ParkUnit 3711
    1 Bed + 11 Bath653 SQFT0 Parking
    Available Apr 1, 2025
    488 University Ave, unit 4005 for rent
    $3,350/mth
    488 university aveGrange ParkUnit 4005
    2 Beds2 Baths700 - 799 SQFT0 Parking
    Available May 1, 2025
    488 University Ave, unit 3605 for rent
    $3,380/mth
    488 university aveGrange ParkUnit 3605
    2 Beds2 Baths700 - 799 SQFT0 Parking
    Available May 1, 2025
    488 University Ave, unit 2208 for rent
    $3,400/mth
    488 university aveGrange ParkUnit 2208
    2 Beds2 Baths864 SQFT0 Parking
    Available Apr 1, 2025
    488 University Ave, unit 3205 for rent
    $3,400/mth
    488 university aveGrange ParkUnit 3205
    2 Beds2 Baths700 - 799 SQFT0 Parking
    Available May 5, 2025
    488 University Ave, unit 2708 for rent
    $3,450/mth
    Price Cut: $200 (Mar 14)
    488 university aveGrange ParkUnit 2708
    2 Beds2 Baths820 SQFT0 Parking
    Available Apr 19, 2025
    488 University Ave N, unit 2507 for rent
    $4,000/mth
    Price Cut: $300 (Apr 4)
    488 university ave nGrange ParkUnit 2507
    2 Beds + 12 Baths900 - 999 SQFT0 Parking
    Available As Soon As Possible
    488 University Ave, unit 4208 for rent
    $4,000/mth
    488 university aveGrange ParkUnit 4208
    2 Beds2 Baths800 - 899 SQFT0 Parking
    Available May 1, 2025
    488 University Ave, unit 2407 for rent
    488 university aveGrange Park
    2 Beds + 12 Baths986 SQFT1 Parking
    Available Apr 26, 2025
    488 University Ave, unit 3907 for rent
    $4,600/mth
    488 university aveGrange ParkUnit 3907
    2 Beds + 12 Baths900 - 999 SQFT1 Parking
    Available Immediately
    488 University Ave, unit 5002 for rent
    $4,800/mth
    488 university aveGrange ParkUnit 5002
    3 Beds2 Baths1200 SQFT0 Parking
    Available Mar 1, 2025
    488 University Ave, unit 5002 for rent
    $5,000/mth
    488 university aveGrange ParkUnit 5002
    3 Beds2 Baths1200 SQFT0 Parking
    Available Mar 1, 2025
    488 University Ave, unit 5202 for rent
    $5,495/mth
    488 university aveGrange ParkUnit 5202
    3 Beds2 Baths1042 SQFT1 Parking
    Available Immediately
    488 University Ave, unit 5501 for rent
    $6,200/mth
    488 university aveGrange ParkUnit 5501
    3 Beds3 Baths1400 - 1599 SQFT1 Parking
    Available Jan 9, 2025

    Similar Condos

    Explore Grange Park


    Commute Calculator

    Loading...
    9/10
    Walkability
    Congratulations, you're the mayor of Walksville! Everything's at your doorstep.
    10/10
    Transit
    Meet the heartbeat of the city — transit so smooth, you’ll never miss a beat.
    7/10
    Bikeability
    The bike lane starts to feel like a second home.

    9/10
    Walkability
    Congratulations, you're the mayor of Walksville! Everything's at your doorstep.
    10/10
    Transit
    Meet the heartbeat of the city — transit so smooth, you’ll never miss a beat.
    7/10
    Bikeability
    The bike lane starts to feel like a second home.

    Demographics

    Based on the dissemination area as defined by Statistics Canada. A dissemination area contains, on average, approximately 200 – 400 households.

    Population
    9,011
    Average Individual Income
    $64,908
    Average Household Size
    3 persons
    Average Age
    41
    Average Household Income
    $107,712
    Dominant Housing Type
    High Rise Apartment
    Population By Age
    0 - 14
    13%
    15 - 19
    1%
    20 - 34
    30%
    35 - 49
    20%
    50 - 64
    18%
    65+
    15%
    Household Income
    $0 - $30,000
    44%
    $30,000+
    25%
    $60,000+
    15%
    $90,000+
    10%
    $125,000+
    4%
    Housing Types & Tenancy
    High Rise Apartment
    44%
    Detached
    27%
    Semi Detached
    20%
    Low Rise Apartment
    4%
    Duplex
    3%
    Marital Status
    Commute
    Languages (Primary Language)
    Other
    75%
    Mandarin
    12%
    Cantonese
    7%
    Tagalog
    2%
    Telugu
    1%
    Spanish
    1%
    Hindi
    1%
    Urdu
    1%
    Education
    University and Above
    42%
    High School
    22%
    College
    15%
    None
    13%
    Apprenticeship
    2%
    University Below Batchelor
    2%
    Major Field of Study
    Business Management
    28%
    Architecture & Engineering
    18%
    Social Sciences
    12%
    Health & Related Fields
    10%
    Math & Computer Sciences
    9%
    Humanities
    5%
    Physical Sciences
    4%
    Education
    4%
    Personal, Protective & Transportation Services
    3%
    Visual & Performing Arts
    2%



    Days on Strata

    Units at The Residences of 488 University Avenue spend an average of
    30
    Days on Strata
    based on recent sales

    List vs Selling Price

    On average, these condos sell for
    4%
    below
    the list price.

    Offer Competition

    Condos in this building have a
    LOW
    chance of receiving
    Multiple Offers
    compared to other buildings in Grange Park

    Turnover of Units

    On average, each unit is owned for
    5.8
    YEARS before being sold again

    Property Value

    -15%
    Decrease in property value within the past twelve months

    Price Ranking

    2nd
    Highest price per SQFT out of 18 condos in the Grange Park area

    Sold Units

    5
    Units were Sold over the past twelve months

    Rented Units

    110
    Units were Rented over the past twelve months

    Best Value Rank

    The Residences of 488 University Avenue offers the
    ?
    best value out of 18 condos in the Grange Park neighbourhood

    Appreciation Rank

    The Residences of 488 University Avenue has the
    ?
    highest ROI out of 18 condos in the Grange Park neighbourhood

    Rental Yield

    The Residences of 488 University Avenue yields the
    ?
    highest rent prices out of 18 condos in the Grange Park neighbourhood

    High Demand

    The Residences of 488 University Avenue is the
    ?
    most popular building out of 18 condos in the Grange Park neighbourhood

    Market Insights

    Transaction Insights at The Residences of 488 University Avenue

    1 Bed1 Bed + Den2 Bed2 Bed + Den3 Bed3 Bed + Den
    Price Range$625,000No Data$929,000 - $978,000No Data$1,418,988No Data
    Avg. Cost Per Sqft$1,118No Data$1,323No Data$1,286No Data
    Avg. Wait for Unit Availability369 Days82 Days68 Days90 Days142 Days172 Days
    Ratio of Units in Building8%34%28%17%8%8%

    Market Inventory

    Total number of units listed and sold in Grange Park