Detached Home for Sale: 185 Steeles Avenue, Newtonbrook East, Toronto
- 6 beds |
- 5 baths |
- 1500-2000 SQFT
Description
Residential Freehold Detached For Sale.
**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.*
Interior Features: Storage
Cross Street: Bayview/Steeles
Direction Faces: South
Key Facts
- Days on: 0 days
- Mls Status: New
- Board Property Type: Free
- Bedrooms Total: 6
- Bedrooms Below Grade: 2
- Bedrooms Above Grade: 4
- Bathrooms Total Integer: 5
- Lot Width: 67.00
- Kitchens Total: 5
- Parking Total: 8
- Parking Spaces: 7
- Parking Features: Private
- Garage Type: Detached
- Heat Source: Gas
- Heat Type: Forced Air
- Cooling: Central Air
- Living Area Range: 1500-2000 Square Feet
Location 185, Steeles, Newtonbrook East, Toronto
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