The condo rental market in Toronto is flooded with overpriced units that capitalize on their desirable locations and amenities. These days, it's common to see one bedrooms listed for $2,000 per month, even if they come in at less than 500 square feet.

Fortunately, if you remain patient while searching, you'll also come across more reasonable rentals. Condos are always going to be more expensive than older style apartment buildings, but when you factor in the extra amenities, some listings remain an alluring option.

This two bedroom in the Carnaby Lofts fits such a description. The building is new, the unit is spacious, and the neighbourhood has a desirable mix of retail and entertainment options along with good transit access.

At nearly 700 square feet, it'd be easy to split this place with a roommate or it could double as a live/work space with the second bedroom used as an office or studio.

Specs

• Address: #501 20 Minowan Miikan Lane
• Building type: Condo
• Apartment type: Condo
• Rent: $2,150
• Utilities: Not specified
• Bedrooms: 2
• Bathrooms: 2
• Parking: Underground (1 space)
• Laundry? In suite
• Outdoor space? Balcony
• Storage: Locker
• Amenities: Gym,
• Pet friendly? Not specified

Good For

This two bedroom should have wide appeal thanks to its ability to house a number of different living arrangements, from roommates to a new family. It's not cheap, so the target market will surely be young professionals who aren't ready to buy but are interested in a nice space.

Move On If

You don't believe in luxury rentals. This isn't an over-the-top condo, but if your plan is to save as much as possible towards a down payment, a more modest rental will certainly help you get there faster.