Opera Place II — Rental Market Data

Opera Place II has exactly one unit actively listed as of August 31, 2026, asking $2,435 per month with both the average and median rent at that same figure. The available suite spans 650 square feet at a rate of $3.75 per square foot, and it is a one-bedroom layout representing 100 percent of current inventory. With no two-bedroom or multi-bedroom units on the market, the building's active offering is entirely compact entry-level stock rather than executive multi-bedroom layouts.

The sole active listing at Opera Place II is a one-bedroom unit, accounting for 100 percent of the building's available inventory. That single suite asks $2,435 per month across 650 square feet, yielding a rate of $3.75 per square foot. No other bedroom tiers—two-bedroom, three-bedroom, or studio—are currently on the market, making this a single-listing sample with no cross-tier comparison possible.

Opera Place II's active pricing spread is effectively zero, as the minimum and maximum asking rents are both $2,435 per month, producing a dollar spread of $0 and a percentage spread of 0 percent. The median asking rent also lands at $2,435, confirming a single-transaction inventory. The entry-level and peak suite are the same unit: a 650-square-foot one-bedroom at $3.75 per square foot, so no tier differentiation exists in the current listing pool.

Active den premiums at Opera Place II cannot be quantified, as no paired den versus non-den listings exist in the current inventory to isolate a marginal cost per square foot for additional den space. Parking premium data is likewise inconclusive; the active sample does not support a reliable isolation of parking stall costs, and no verified monthly figure can be quoted for the current listing. Historical lease data does confirm a verified parking premium of $225 per month, but that figure reflects past closed transactions rather than the active unit's specific terms.

Opera Place II's active asking rent of $2,435 per month and rate of $3.75 per square foot both trail the Downtown Core submarket averages of $3,471 per month and $4.56 per square foot, respectively. The nominal rent gap of roughly $1,036 per month is substantially explained by suite size: the active unit at 650 square feet is 111 square feet smaller than the submarket implied average of 761 square feet, and the per-square-foot rate still runs 17.8 percent below the submarket asking benchmark. Opera Place II's single listing represents 1 out of 224 active listings across the Downtown Core submarket, a share of approximately 0.4 percent.

Opera Place II's all-time average realized lease rent of $3,181 per month runs $218 above the four-comp benchmark of $2,963, driven primarily by the building's larger average suite footprint rather than a higher per-square-foot valuation. Opera Place I at 887 Bay St (0.02 km, 11 closed leases) averaged $2,732 per month at $3.99 per square foot across 718 square feet, meaning the subject commands a $449 higher monthly rent. The Allegro at Opera Place at 909 Bay St (0.07 km, 18 closed leases) averaged $2,801 per month at $4.04 per square foot over 719 square feet, with the subject trading $380 higher. Murano – North Tower at 37 Grosvenor St (0.09 km, 35 closed leases) posted $3,003 per month at $4.37 per square foot across 692 square feet, a $178 spread in the subject's favour. Burano Condominiums at 832 Bay St (0.11 km, 46 closed leases) recorded the highest comp rent at $3,317 per month, $4.18 per square foot, and 810 square feet, placing the subject $136 below that benchmark. All four competitors posted active lease volume, so each provides a realized pricing reference rather than a zero-transaction architectural placeholder.

Opera Place II leases at $3.79 per square foot across an 861-square-foot average suite, trading at a discount on a per-square-foot basis against every active competitor in this pocket while delivering the largest interior footprint of the group. Against Opera Place I ($3.99 per square foot, 718 sq ft), the subject offers a $0.20 per square foot (5.0%) discount and 143 more interior square feet; against The Allegro ($4.04 per square foot, 719 sq ft), the discount widens to $0.25 per square foot (6.2%) with 142 additional square feet. Murano – North Tower ($4.37 per square foot, 692 sq ft) shows the steepest gap: the subject trades at a $0.58 per square foot (13.3%) discount while providing 169 more square feet. Burano Condominiums ($4.18 per square foot, 810 sq ft) presents the closest comparison, with the subject at a $0.39 per square foot (9.3%) discount and 51 more square feet. In every pairing, the subject's higher nominal rent versus three of four comps is a direct function of its larger interior footprint, not a premium on asset value per unit of space.

Opera Place II offers a nine-feature lifestyle package including a concierge and security desk, gym and fitness centre, sauna and steam room, hot tub and jacuzzi, party and lounge room, meeting room, media and theatre room, games and billiards room, and change rooms—the last being a facility absent from all four nearby competitors. The building's hot tub and jacuzzi also set it apart from The Allegro at Opera Place, which provides neither aquatic amenity. By contrast, Opera Place I adds an indoor pool and squash court, Murano – North Tower layers on a yoga studio, business centre, rooftop terrace, running track, and BBQ area, and Burano Condominiums contributes outdoor and indoor pools, a dining room and kitchen, and a rooftop terrace that the subject does not carry. The subject's package, anchored by its unique change rooms and a full wellness suite (sauna, steam, hot tub) without the aquatic or rooftop offerings of the 2009-to-2013 cohort, best serves cost-conscious professionals and couples who value private wellness access and a meeting-ready environment over resort-style pools or outdoor terraces.