Given the state of the Toronto real estate market over the last little while, you could be forgiven for thinking you need to lay down a million bucks to get a truly nice 2-plus bedroom condo. Regardless of any cool down in the works, that's not really the case.

Sure, $1 million seems to be a benchmark on King West for a decent size luxury condo, but leave the core and your cash goes quite a bit further. Case in point, this condo at 88 Park Lawn Rd., near Humber Bay.

It's two bedrooms plus a small office area with a wrap around terrace that adds plenty of space in the summer. The master bedroom isn't huge, of course, but it's more than adequate for an urban dwelling.

In general, I like the layout here, which maximizes livable space. The open kitchen and living room are well designed for entertaining, but not so much that you can't imagine throwing together dinner while keeping an eye on the TV on an average work night.

People who want to walk or ride everywhere won't love the location, but Humber Bay Shores has evolved over the last five years. It's a condo community to be sure, but there are plenty of amenities close by (grocery stores, restaurants, farmers' markets), and being so close to lake is quite alluring.

Specs

• Address: #605 - 88 Park Lawn Rd.
• Price: $698,000
• Bedrooms: 2 + 1
• Bathrooms: 2
• Parking: 1
• Walk Score: 59
• Transit Score: 68
• Maintenance Fees: $632.63
• Listing agent: Matthew Fernandes
• Listing ID: W3861540

Good For

Someone who loves the lake and all the parkland nearby. This unit is certainly nice inside and the building has lots of amenities, but the happiest buyer will also take advantage of being so close to the water.

Move On If

You don't own a car. The area around this condo is progressively getting more and more built up, but relying on the 501 streetcar all the time would be a drag.

Thanks to Bosley Real Estate Ltd., Brokerage for sponsoring our condo of the week. All editorial written and selected by blogTO.