185 Steeles Avenue E, Toronto - $1,588,000 | Modern Solution

185 Steeles Avenue E

185 Steeles Avenue E, Toronto

185 Steeles Avenue E in Toronto - 6 bedroom, 5 bathroom. Listed at $1,588,000.

**Exceptional Investment & Redevelopment Opportunity in Prime Newton brook East!** Attention Investors, Builders & Developers! Unlock the incredible potential of this expansive **67 x 120.75 Ft Lot** with excellent exposure on Steeles Avenue in a highly desirable Toronto location. Currently configured as **5 income-generating rental units**, this property produces approximately **$7,000-$8,000 in monthly rental income**, offering immediate cash flow while planning your next development project.**Outstanding redevelopment potential for minimum 4-storey, 16-unit purpose-built rental building**, subject to municipal approvals and verification with the City of Toronto.50 foot lot has been granted same recently on Steeles Ave E. An excellent opportunity to explore **CMHC financing programs**, including MLI Select, for qualifying rental developments. Renovated in 2019 with numerous upgrades, the existing property offers flexible residential and potential professional office uses, a spacious driveway accommodating up to 7 vehicles, and a detached garage.**Invest Today, Generate Income Tomorrow & Build for the Future!** Whether you're looking to expand your rental portfolio, develop a multi-residential income property, or secure a strategic land investment in Toronto, this property offers tremendous long-term potential. **Rare Opportunity to Acquire a Large Income-Producing Lot with Significant Redevelopment Upside!***Buyer and Buyer's Agent to conduct their own due diligence regarding zoning, permitted uses, development potential, All development concepts are subject to City of Toronto approval.*

Property Details

  • Property Type: Mortgage
  • Style: 1 1/2 Storey
  • Square Footage: 1750 sqft
  • Basement: Finished
  • Heating: Gas
  • Cooling: Central Air
  • Parking: 8 spaces
  • Property Taxes: $7,473/yr
  • Neighbourhood: Newtonbrook East
  • Postal Code: M2M 3Y6

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