185 Steeles Avenue
Newtonbrook East, Toronto, M2M 3Y6
FOR SALE
$1,588,000
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4 + 2
BEDROOMS 5
BATHROOMS 3 + 2
KITCHENS 12
ROOMS C14171514
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Property Description
**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.*
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Sold History
| List Date | Sold Date | Days Listed | List Price | Sold Price |
|---|---|---|---|---|
| 2007-06-01 | 2007-07-27 | 56 | $529,000 | $518,000 |
| 2005-06-01 | 2005-08-08 | 68 | $469,000 | $455,000 |
| 2003-10-22 | 2003-12-24 | 63 | $359,900 | $333,000 |
| 2003-05-26 | 2003-06-02 | 7 | $359,900 | $352,500 |
| 2001-07-16 | 2001-08-30 | 45 | $279,900 | $260,000 |
| 1999-06-03 | 1999-06-16 | 13 | $287,900 | $279,000 |
Nearby Intersections
Property Features
Storage, Private
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Property Details
Address
185 Steeles Avenue
Community
City
Postal Code
M2M 3Y6
Property Type
Detached, Detached
Lot Size
67' x 121'
Taxes
$7,473 (2025
Basement
Finished, Separate Entrance
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
7
Garage Type
Detached
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Listing contracted with Re/Max Realtron Realty Inc.
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