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 the centre of Toronto’s Entertainment District, where restaurants, theatres, concerts, and big-league games are just part of daily life, 199 Richmond Street West #518 offers something most downtown condos can’t: the ability to rent short-term legally. For an investor, that’s a rare edge in a high-demand location—one that can help offset monthly costs or even tip the numbers into cash-flow-positive territory. For a downtown professional, it’s a flexible home base that adapts as life changes, whether you’re working from home, hosting guests, or sharing the space.
Inside, 724 square feet feel larger thanks to nearly nine-foot ceilings and windows running the width of the suite. The smart layout puts the space where it matters: a proper enclosed den with a sliding door—perfect for a quiet office, guest room, or occasional second bedroom—and two full bathrooms, a rarity at this size and price. The sleek, European-style kitchen is streamlined along one wall, complete with built-in Miele oven and cooktop, paneled fridge, and dishwasher. It leaves more room for an open living and dining area that can easily handle a sectional sofa, dining table, and a few friends over on a Friday night.
The full-sized primary bedroom has a large window and double closet, while the extra pantry-style storage off the living room means your everyday essentials stay neatly tucked away. A covered balcony runs the width of the living space—private, sheltered from the elements, and large enough for bistro dining or extra storage space. While the view isn’t the selling point here, the outdoor extension is practical and usable, even in colder months.
At street level, you’re steps from Osgoode Station and a short walk to Queen West, King West, the Rogers Centre, and endless dining and nightlife options. When you want fresh air without navigating downtown’s hard edges, the building’s second-floor terrace offers lush, green gardens. Rooftop BBQs, a well-equipped gym, yoga room, billiards lounge, and party spaces mean you’ll use the amenities as much as your own living room.
Parking and a locker are included, adding convenience now and value later. And with short-term rentals allowed for stays of 28 days or more—a rarity in the downtown core—you have the freedom to earn more per month than a traditional lease would allow.
For someone who values location, flexibility, and future income potential over skyline views or an oversized kitchen, this condo just makes sense. It’s central, adaptable, and poised to perform—whether you live here full time, part time, or treat it purely as an investment.
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.
