Newport Beach I & II — Rental Market Data

Newport Beach I & II carries one active listing as of August 31, 2026, with a single asking rent of $5,500 per month serving as both the average and median. The available suite spans 1,285 square feet at an asking rate of $4.28 per square foot. This lone listing is a two-bedroom layout representing 100 percent of active inventory, placing the building squarely in the multi-bedroom executive tier rather than the compact entry-level segment that dominates much of the Mimico submarket.

The sole active layout at Newport Beach I & II is a two-bedroom unit, accounting for 100 percent of available inventory with a single listing. That two-bedroom suite asks $5,500 per month across 1,285 square feet, translating to $4.28 per square foot. No one-bedroom, studio, or three-plus-bedroom tiers are currently listed, so renters seeking a different bedroom configuration must look to other Mimico addresses.

With only one unit on the market at Newport Beach I & II, the minimum and maximum asking rents both sit at $5,500 per month, producing a dollar spread of zero and a percentage spread of zero. The entry-level and peak suite are the same two-bedroom layout at 1,285 square feet and $4.28 per square foot, so there is no internal price gradient to navigate. Renters comparing this asking rent to the 90-day realized lease average of $5,400 per month should note that the active listing's per-square-foot rate is higher while the footprint is more compact than the 1,613-square-foot historical average.

Den premium data for Newport Beach I & II cannot be quantified because no paired den versus non-den active listings exist in the current sample. Parking stall costs likewise cannot be reliably isolated; the available data reflects an anomalous outlier or insufficient paired sample, so no specific monthly parking fee should be assumed. Renters interested in either amenity should request a direct quote from the leasing office before signing a lease.

Newport Beach I & II's active asking rate of $4.28 per square foot sits 3.4 percent below the Mimico submarket asking benchmark of $4.43 per square foot, even though the nominal monthly rent of $5,500 exceeds the submarket average asking rent of $3,313. That nominal gap is explained by suite size: the active unit at 1,285 square feet is 537 square feet larger than the submarket implied average of 748 square feet, so the higher headline rent reflects expansive floor plate rather than a per-square-foot premium. Newport Beach I & II's single active listing represents one out of 51 available listings across the broader Mimico submarket, a 2 percent share of total neighborhood inventory.

Newport Beach I & II's all-time average realized lease rent of $5,400 per month sits roughly double the overall comp benchmark of $2,669 per month, a gap driven entirely by the subject's 1,613-square-foot average suite versus the 650-to-750-square-foot norms at its nearest competitors. Waterford Tower I at 2087 Lake Shore Blvd W (0.06 km, 3 closed leases) averaged $2,667 per month at $3.71 per square foot across 717 square feet; Waterford Tower II at 2083 Lake Shore Blvd W (0.07 km, 2 closed leases) averaged $2,745 per month at $4.27 per square foot across 650 square feet; and Waterview II – Voyager at 2119 Lake Shore Blvd W (0.14 km, 4 closed leases) averaged $2,594 per month at $3.46 per square foot across 750 square feet. Waterford at 2095 Lake Shore Blvd W (0.09 km) recorded zero closed leases over the trailing 180 days and therefore offers no realized rent benchmark for comparison.

Newport Beach I & II trades at a per-square-foot discount below every active competitor in its immediate pocket while delivering 863 to 963 more interior square feet than each, making the higher nominal monthly rent a footprint effect rather than an asset-valuation premium. Against Waterford Tower I, the subject offers a $0.36 per square foot (9.7%) discount and 896 additional square feet of living space; against Waterford Tower II, the discount widens to $0.92 per square foot (21.5%) with 963 extra square feet; and against Waterview II – Voyager, the subject still holds a $0.11 per square foot (3.2%) discount alongside 863 more square feet. The Mimico submarket average of $3.96 per square foot further confirms that the subject's $3.35 per square foot rate undercuts the broader area, so a renter paying $5,400 per month is purchasing roughly 1,613 square feet of interior space at a below-market unit rate rather than paying a luxury premium for a compact suite.

Newport Beach I & II provides a nine-item amenity package—concierge and security, gym and fitness centre, sauna and steam room, party and lounge room, meeting room, library and reading room, games and billiards room, BBQ area, and rooftop terrace—that is functional but notably leaner than the 10-to-18-item packages at its 2005-era neighbours. The subject lacks the indoor pools, hot tubs and jacuzzis found at Waterford Tower I, Waterford Tower II, and Waterview II – Voyager; the business centres and car wash bays present at three of the four competitors; and the yoga studios, golf simulator, media and theatre room, dining room and kitchen, garden and courtyard, massage room, and EV charging stations that round out the Waterview II – Voyager offering. In return, the subject's library and reading room is a feature absent from Waterford Tower I and Waterford Tower II, and its meeting room is not available at Waterford Tower I. This amenity profile, combined with the building's 2000 construction date and large-suite format, best serves cost-conscious professionals and small families who prioritise generous interior square footage and a low-maintenance, no-frills lifestyle over resort-style recreational facilities.