Westlake 3 — Rental Market Data

Westlake 3 has one active listing as of August 31, 2026, asking $2,900 per month with both the average and median rent at $2,900. The available suite spans 750 square feet at $3.87 per square foot and is configured as a two-bedroom layout, representing 100 percent of current inventory. With only a single unit on the market, the building offers no entry-level one-bedroom or multi-bedroom executive options, and the listing's 147 days on market far exceeds the submarket norm of 24 days.

The sole active layout at Westlake 3 is a two-bedroom unit, accounting for 100 percent of available inventory with one listing at $2,900 per month. The suite measures 750 square feet at $3.87 per square foot, and no one-bedroom or three-bedroom tiers are currently on the market. Renters seeking alternative bedroom configurations must look to the broader Mimico submarket, which holds 60 additional active listings across competing buildings.

Westlake 3's single active listing sets both the minimum and maximum asking rent at $2,900 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 unit at 750 square feet and $3.87 per square foot, so no internal price gradient exists to compare. Renters evaluating value should benchmark this figure against the Mimico submarket average asking rent of $3,167 per month and $4.45 per square foot.

Westlake 3's active den premium and associated square-footage delta cannot be quantified from the current single-listing sample, as no paired den versus non-den transactions exist to isolate a marginal cost. Parking stall premiums are similarly unquantifiable; the available data is flagged as an unreliable outlier or insufficient paired sample, and no verified monthly parking fee can be cited for this building.

Westlake 3's active asking rent of $2,900 per month and $3.87 per square foot both sit below the Mimico submarket averages of $3,167 per month and $4.45 per square foot, a 13 percent discount on the rate metric. The nominal rent gap narrows when accounting for suite size: the active listing's 750 square feet exceeds the submarket implied average of 712 square feet by 38 square feet, meaning the larger footprint partially offsets the lower per-square-foot rate. Westlake 3 holds one out of 61 active listings in the Mimico submarket, a 1.6 percent share of total available inventory.

Westlake 3's average realized lease rent of $2,650 per month runs $56 above the four-comp benchmark of $2,594, placing it in the upper half of its immediate Lake Shore corridor peer set. Westlake 2 at 2200 Lake Shore Blvd W (0.05 km, two closed leases) averaged $2,700 per month at $4.16 per square foot across 650 square feet, meaning the subject trades at a $50-per-month lower rent than that direct neighbour. Westlake 1 at 2220 Lake Shore Blvd W (0.06 km, one closed lease) averaged $2,400 per month at $4.36 per square foot across 550 square feet, so the subject commands a $250-per-month higher rent than that comp. Beyond the Sea – Star Tower at 2230 Lake Shore Blvd W (0.13 km, one closed lease) averaged $2,450 per month at $3.77 per square foot across 650 square feet, placing the subject $200 per month above that 2013-era tower. Beyond the Sea – II at 2240 Lake Shore Blvd W (0.15 km, two closed leases) averaged $2,825 per month at $4.35 per square foot across 650 square feet, meaning the subject trades at a $175-per-month lower rent than that 2011 building.

Westlake 3 leases at $4.10 per square foot across an average 650-square-foot suite, a rate that sits $0.10 below the four-comp average of $4.16 per square foot while offering 25 more square feet than the comp mean of 625, giving renters a larger interior envelope at a marginally lower per-foot cost. Against Westlake 2 (parity at 650 square feet), the subject trades at a $0.06-per-square-foot discount, so the $50 monthly savings reflects a slightly lower rate on identical space rather than a smaller unit. Versus Westlake 1 (550 square feet), the subject provides 100 more interior square feet yet still trades at a $0.26-per-square-foot discount, meaning the $250 higher nominal rent is entirely attributable to the expanded footprint rather than a per-foot premium. Against Beyond the Sea – Star Tower (parity at 650 square feet), the subject commands a $0.33-per-square-foot premium, reflecting a $200 monthly uplift on identical space that signals stronger asset valuation for the 2015-built product over the 2013 tower. Finally, versus Beyond the Sea – II (parity at 650 square feet), the subject trades at a $0.25-per-square-foot discount, so the $175 lower rent again reflects a rate differential on equal square footage rather than a size trade-off.

Westlake 3's 20-amenity package includes a Golf Simulator, Therapy Room, and outdoor Children's Playground that are absent from all four nearby competitors, distinguishing it as the most recreation- and family-oriented building in the Lake Shore corridor. Westlake 2 and Westlake 1 each offer a Putting Green and Massage Therapy Room that the subject does not carry, while Beyond the Sea – Star Tower and Beyond the Sea – II both provide a Dog Run, Martial Arts/Boxing Room, and Wine Tasting Room that Westlake 3 lacks. The subject's Golf Simulator and Therapy Room create a unique wellness-and-leisure pairing, and the dedicated outdoor children's playground (alongside an indoor Kids' Play Room) gives it a clear family-lifestyle edge over peers whose kid-focused offerings stop at an indoor play room. This amenity mix best serves young professional families and wellness-oriented renters in the 30-to-50 age band who prioritize on-site fitness, recreational variety, and child-friendly common space over pet-specific or social-dining facilities.