The Morgan
1Listing for Salefor Sale
1Listing for Rentfor Rent
438 Richmond St W
The Morgan
438 Richmond St Wexpand addresses list
    1Listing for Salefor Sale
    1Listing for Rentfor Rent
    Walk Score
    100
    Transit Score
    100
    Bike Score
    75
    © MapTiler © OpenStreetMap
    0
    CONDO Demand
    high
    Unit Availability
    low
    Property Type
    Condo
    Developer
    Great Gulf
    Condo Completion
    2002
    Property Management
    Crossbridge Condominium Services Ltd.
    Unit Size Range
    353 - 5018 SQFT
    Number of Units
    217
    Number of Storeys
    15

    438 Richmond St W, Toronto

    About this condo

    Condo Overview

    With its floor count of only 15 storeys, the Morgan Condos may be short, however it is certainly not small. The prominent building at the corner of Richmond and Spadina is hard to miss for a number of important reasons.

    The first is its size: the Morgan Condos — with 217 Queen West condos and plenty of retail space below — take up half of an entire city block. The second striking aspect of the residences at 438 Richmond Street West is its architectural style.

    Built in 2002, the Morgan Condos has an aesthetic that resembles structures dating back to the 1920s. The Art Deco façade was designed by Quadrangle Architects, and has not gone unnoticed by experts in the field: in 2005, the Morgan Condos was honoured with an award of excellence from the Ontario Association of Architects.

    The structure is even said to be inspired by its neighbouring edifices — built about 80 years prior — such as the Balfour and the Fashion Building. The yellow brick found adoring the condo might even trick a passersby into thinking 438 Richmond Street West is part of this historical gang.

    But once one steps foot inside, they'll quickly recognize how contemporary the building really is. Just beyond the grand spiral staircase in the lobby, residents and guests will find all of the amenities one could ask for. Residents have access to a gym, meeting room, party room, cinema, rooftop terrace with barbecues, and a sauna, as well as a concierge to keep everything in order and visitor parking to ensure that residents can share these privileges with friends and family.

    Ground floor retail businesses allow residents to run errands without having to travel too far. Between the Le Gourmand Café and Starbucks just downstairs, residents also have their pick of where to grab a coffee before heading out to work each morning.

    The Suites

    Since the building has been around for a while now, residents have had the chance to customize the units, so the Toronto condos for sale in this building that show up on the market may have varying features — some upgrades include kitchen renovations and even the removal of entire walls for brighter, airier homes.

    The most impressive unit in the building is surely the three-storey penthouse, which takes up part of the 14th and 15th floors, and comprises the entirety of the 16th storey. This extravagant unit even boasts a 2,000 square foot, south-facing terrace, which residents don’t have to share with anyone else in the building. Technically this home was not upgraded, but rather redesigned during the building’s initial construction, with the help of Peter Berton of Ventin Group Architects.

    While this modernist home is the exception at 438 Richmond Street, rather than the rule, the rest of the units in the building don’t have any issues impressing prospective buyers.

    Studios might appeal to single buyers or couples with tighter budgets, with these homes starting at around 400 square feet. Families — or anyone else requiring an abundance of space — will be glad to learn that the units can span up to 4,100 square feet, with larger ones containing two bedrooms each.

    All of the homes at 438 Richmond Street West are bright and airy, thanks to the wealth of glass found along the facades. Upper levels are set back, allowing for plenty of space for oversized terraces, while charming balconies grace the homes below.

    The Neighbourhood

    Nestled between Queen and King Streets West, and steps to Spadina Avenue, residents have plenty of neighbourhoods to explore when they get the chance.

    Weekends can be spent exploring the tiny yet eclectic streets of Kensington Market, dining out on the cheap in Chinatown, sunbathing in Trinity Bellwoods Park, exploring the galleries and boutiques of trendy West Queen West, or even wandering around the waterfront.

    Outdoorsy types can visit Alexandra Park, which features an outdoor swimming pool in the summertime, and a skating rink once the weather takes a turn for the worst. Coronation Park is also within close reach, where residents can partake in a baseball match or run along the Martin Goodman Trail, all the while watching boats set sail on Lake Ontario.

    The Morgan Condos are also located nearby to many entertainment venues, including the TIFF Bell Lightbox and Roy Thompson Hall, and even the Rogers Centre. With the lakeshore so close at hand, residents can also reach the Jack Layton Ferry Terminal in no time, while a trip over to the Ex, Ontario Place, and the Budweiser Stage is equally as effortless.

    Transportation

    With such a central, downtown location, residents living at 438 Richmond West can walk or cycle around the immediate area in order to run errands or make their morning commutes to work.

    Alternatively, those heading out of the neighbourhood can catch a Queen streetcar in order to reach Osgoode Station, or a Spadina streetcar for access to Spadina Station. Residents also benefit from their close proximity to Billy Bishop Toronto City Airport, which can be reached in just over 20 minutes via public transit or by car or taxi.

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    Amenities

    Sauna
    Media Room
    Concierge
    BBQ
    Security System
    Games Room
    Visitor Parking
    Underground Parking
    Rooftop Deck/Garden
    Party/Meeting Room
    Gym

    Maintenance Fees Cover

    Maintenance fees include

    Water

    Owner / renter pays separately

    Hydro
    Heat
    Air Conditioning

    Past Sold & Rented Listings

    Stats, Trends & Rankings

    Price Per Square Foot
    The Morgan vs The Queen West Area

    $185.00
    Less Expensive
    per SQFT compared to the neighbourhood average
    The Morgan's Avg
    price per SQFT
    $928
    / SQFT
    Neighbourhood Avg
    price per SQFT
    $1,113
    / SQFT

    Building Trends At The Morgan

    Days on Market

    Units at The Morgan spend an average of
    16
    Days on Market
    based on recent sales

    List vs Selling Price

    On average, these condos sell for
    2%
    above
    the list price.

    Offer Competition

    Condos in this building have an

    AVERAGE
    chance of receiving
    Multiple Offers

    Turnover of Units

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

    Property Value

    -7%
    Decrease in property value within the past twelve months

    Price Ranking

    27th
    Highest price per SQFT out of 44 condos in the Queen West area

    Sold Units

    7
    Units were Sold over the past twelve months

    Rented Units

    19
    Units were Rented over the past twelve months

    Best Value

    The Morgan offers the
    ?
    best value out of 44 condos in the Queen West neighbourhood

    Return on Investment

    The Morgan has the
    ?
    highest ROI out of 44 condos in the Queen West neighbourhood

    Rental Yield

    The Morgan yields the
    ?
    highest rent prices out of 44 condos in the Queen West neighbourhood

    High Demand

    The Morgan is the
    ?
    most popular building out of 44 condos in the Queen West neighbourhood

    Sales vs Rental Values For This Condo

    Studio406 - 850 SQFT
    Average Cost Per Sqft$732
    Sales Price Range$421,688 - $429,900
    Rental Price Range$1,750 - $1,750
    1 Bed583 - 690 SQFT
    Average Cost Per Sqft$1,055
    Sales Price Range$660,000 - $672,000
    Rental Price Range$1,800 - $2,350
    1 Bed + Den695 - 845 SQFT
    Average Cost Per Sqft$854
    Sales Price Range$688,000 - $770,000
    Rental Price Range$2,200 - $2,650
    2 Bed755 - 1025 SQFT
    Average Cost Per Sqft$1,030
    Sales Price Range$811,000 - $811,000
    Rental Price Range$2,000 - $3,200

    How Often Are Units Listed?

    Studio406 - 850 SQFT
    Average Sales Availability
    Every288Days
    Average Rental Availability
    Every206Days
    Ratio of Unit Type in Building10%
    1 Bed539 - 1570 SQFT
    Average Sales Availability
    Every96Days
    Average Rental Availability
    Every83Days
    Ratio of Unit Type in Building33%
    1 Bed + Den670 - 900 SQFT
    Average Sales Availability
    Every112Days
    Average Rental Availability
    Every114Days
    Ratio of Unit Type in Building24%
    2 Bed700 - 1865 SQFT
    Average Sales Availability
    Every93Days
    Average Rental Availability
    Every103Days
    Ratio of Unit Type in Building31%
    2 Bed + Den920 - 1000 SQFT
    Average Sales Availability
    Every210Days
    Average Rental Availability
    N/A
    Ratio of Unit Type in Building3%
    3 Bed + Den
    Average Sales Availability
    N/A
    Average Rental Availability
    N/A
    Ratio of Unit Type in Building2%

    Maintenance Fees
    The Morgan vs The Queen West Area

    $0.07
    More Expensive
    per SQFT compared to the neighbourhood average
    The Morgan's Avg
    monthly maintenance
    fee per SQFT
    $0.81
    / SQFT
    Neighbourhood Avg
    monthly maintenance
    fee price per SQFT
    $0.74
    / SQFT

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