558-562 Kingston Rd
East End-Danforth, Scarborough, M4E 1P9
FOR SALE
$5,998,000
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8 + 8
BEDROOMS8
BATHROOMS8
KITCHENS24
ROOMSE8309972
MLSIDContact Us
Property Description
Truly exceptional opportunity for a future mid-rise development in the heart of the Toronto Beaches! Site plan submitted to City & under review for rezoning for an 8-storey building with 57 units (49 condo, 8 rental) & 21 underground parking spots. Total lot size 91x150 ft with development potential of 37,800 sf (buyer to verify with City). Backs onto beautiful ravine setting (**submitted site plans have been approved by TRCA for the distance of the proposed building to the ravine slope**) Existing lots each currently have a fourplex with a combined total of 8 two-bedroom rental units with total gross income of $184,272/yr. Incredible location with TTC at your doorstep! Short walk to Queen Street and the beach! Just steps to the trendy shops & restaurants of Kingston Road Village! Quick access to the downtown core and highways!
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-01-16 | 2024-04-30 | 105 | $7,000,000 | - | Expired |
Extras
Property Brochure and Site Plans available upon request. Existing building street addresses are 558/560 Kingston Rd and 562/564 Kingston Rd -- registered as 558 Kingston Rd & 562 Kingston Rd
Nearby Intersections
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Property Details
Street
Community
City
Property Type
Multiplex, 2-Storey
Lot Size
91' x 151'
Fronting
North
Taxes
$15,944 (2023)
Basement
Finished
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
8
Driveway
Private
Garage Type
None
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Scarborough Market Statistics
Scarborough Price Trend
558-562 Kingston Rd is a 8-bedroom 8-bathroom home listed for sale at $5,998,000, which is $3,325,000 (124.4%) higher than the average sold price of $2,673,000 in the last 30 days (April 14 - May 13). During the last 30 days the average sold price for a 8 bedroom home in Scarborough increased by $525,500 (24.5%) compared to the previous 30 day period (March 15 - April 13) and down $689,933 (20.5%) from the same time one year ago.Inventory Change
There were 12 8-bedroom homes listed in Scarborough over the last 30 days (April 14 - May 13), which is up 100.0% compared with the previous 30 day period (March 15 - April 13) and up 50.0% compared with the same period last year.Sold Price Above/Below Asking ($)
8-bedroom homes in Scarborough typically sold ($161,500) (6.0%) below asking price over the last 30 days (April 14 - May 13), which represents a $161,000 decrease compared to the previous 30 day period (March 15 - April 13) and ($134,400) less than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 8-bedroom homes in Scarborough over the last 30 days (April 14 - May 13) stood at 33.3%, down from 33.3% over the previous 30 days (March 15 - April 13) and down from 37.5% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 8-bedroom 8-bathroom home in Scarborough stood at 90 days when successfully sold over the last 30 days (April 14 - May 13), compared to 72 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Hallmark Richards Group Realty Ltd.
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