Welcome To
199 Richmond St W #518
Downtown Living with a Rare Twist: This Condo Lets You Earn While You Own
Send This Listing To A FriendIn a downtown market crowded with “just another one-bedroom-plus-den,” this suite stands apart. 199 Richmond #518 is one of the rare few where short-term rentals are permitted within building guidelines—an option that instantly changes the math for investors and anyone who values flexibility. In Toronto’s Entertainment District, where the event calendar never stops, that’s an advantage you can’t replicate.
At 724 square feet, the layout doesn’t waste an inch. A fully enclosed den with sliding doors functions as a second bedroom, a proper office, or both—while two full bathrooms make it practical for shared living, hosting, or maximizing nightly rental rates. The kitchen is streamlined along one wall, fitted with built-in Miele appliances and a paneled fridge and dishwasher, leaving room for a full living and dining setup. Nearly nine-foot ceilings and a wall of windows expand the space, while a covered balcony stretches the width of the suite, private and usable year-round.
The primary bedroom offers a generous double closet and natural light; an extra pantry-style closet off the living area means daily clutter doesn’t take over. Parking and a locker are included—no small thing in this location, where those extras carry real value.
Step outside and you’re at Osgoode Station in minutes, with Queen and King West, Roy Thomson Hall, Rogers Centre, and the city’s best restaurants within walking distance. When you need quiet, the building itself delivers with a second-floor terrace wrapped in greenery, a rooftop BBQ area, and amenities that feel less like afterthoughts and more like real extensions of your living space: a gym, yoga studio, billiards lounge, and party rooms.
Here the monthly maintenance fees buy you more: parking, storage, full-service amenities, and the ability to earn income in ways most buildings simply won’t allow.
For an investor, this is a scarce opportunity to snag a uniquely flexible asset below neighbourhood average pricing. For a downtown professional, it’s a home that adapts as life shifts—work from home, bring in a roommate, or just lock the door and travel without worry. For parents of students or medical residents, it’s a turnkey condo that will rent strongly when graduation comes.
It isn’t trying to be the condo with the best view or the chef’s kitchen of your dreams. It’s built for something different: flexibility, revenue, and location. And in today’s market, that’s exactly what makes it rare.
5 Things We Love
- Space That Adapts to You. A true 1+den with two full bathrooms at this price is rare. The fully enclosed den is ideal for a roomy home office, a second bedroom for guests, or even a short-term roommate.
- A Kitchen That Doesn’t Steal Your Square Footage. The streamlined, modern kitchen keeps everything you need—fridge, stove, dishwasher, microwave—tucked neatly along one wall, freeing up space for a generous living area you’ll actually use.
- Smart Storage Everywhere. From the underground locker to the versatile pantry closet off the living room, there’s a dedicated place for everything—whether it’s a shoe collection, extra luggage, or an overflowing bookshelf.
- The Ultimate Entertainment District Address. Queen West, King West, Jays games, concerts, and endless dining options are all within walking distance. Osgoode Station is just minutes away, putting the rest of the city at your doorstep.
- A Rare Investment Advantage. One of the few downtown buildings that still allow short-term rentals (28 days+), giving you the option to offset monthly costs.
Studio on Richmond | Amenities
The building’s amenities are designed to feel like an extension of your home, with spaces for fitness, relaxation, and entertaining. Stay active in the fully equipped gym or yoga room, gather with friends in the lounge, party room, or billiards area, and head up to the rooftop terrace for BBQs with a view.
For a quieter escape, the second-floor terrace offers landscaped gardens—lush, green, and rare in the heart of downtown—giving residents a peaceful retreat from the city’s hard edges.
Floor Plans
3-D Walk-through
About The Entertainment District
Toronto's Big Stage
Life in the Entertainment District comes with a front-row seat to the city’s biggest moments. It’s where the skyline is anchored by the CN Tower, where TIFF transforms King Street into a red carpet, and where the Rogers Centre, Scotiabank Arena, and TIFF Bell Lightbox pull in crowds from across the country. Between game nights, concerts, and world-class theatre, there’s always something happening—and often within a few blocks of home.
Dinner can be as upscale or as casual as the night calls for: sleek hotel lounges, buzzy rooftop patios, celebrity chef restaurants, and late-night comfort food joints all compete for your attention. For those who like to keep the night going, the neighbourhood’s nightclubs and cocktail bars are a short (and safe) walk away.
Getting around is effortless—and often unnecessary. This is one of the most walkable pockets in the city, with St. Andrew and Osgoode subway stations just minutes away. North–south travel is easy via the Bathurst or Spadina streetcars, and if you’re headed east or west, the Queen and King streetcars have you covered. The King route is now one of the fastest downtown thanks to the 2019 pilot-turned-permanent traffic change—cars can’t travel through this stretch, keeping the streetcar moving. Need to escape the city for the weekend? The Spadina on-ramp to the Gardiner Expressway is right there.
The sidewalks here tell their own story. Tourists wander slowly, eyes up at the skyline, while locals weave through the crowd at commuter speed, aiming for home after a long day. It’s busy, but it’s never boring.
If staying active is your thing, you’re spoiled for choice. Barry’s Bootcamp, SpinCo, GoodLife, boutique yoga and pilates studios, barre classes—you can even find a dedicated meditation centre to balance it all out.
The Entertainment District isn’t just where Toronto comes to play—it’s a neighbourhood that makes every day feel plugged into the best the city has to offer.
