For Sale: 185 Steeles Avenue E, Toronto, ON - REW
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$1,588,000
4 + 2 bd • 5 ba • 1500 - 2000 sf • House
185 Steeles Avenue E
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$1,588,000
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185 E Steeles AvenueToronto, ON, M2M 3Y6

Newtonbrook East
  • 4 + 2 Bed
  • 5 Bath
  • 1500 - 2000 Sqft
  • House

About this home

**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.*
Listed by: Hooman Bandarchi, Broker, RE/MAX REALTRON REALTY INC.

Home facts and features

Price details
List Price
$1,588,000
Get Pre-Approved
Gross Taxes for 2025
$7,473
Home facts
Bedrooms
4 + 2
Full Bathrooms
5
Parking Spaces
8
Parking Details
Private
Property Type
House
Lot Size
67 ft x 120 ft (8090 ft²)
Depth
120.75
Frontage
67.0
Exterior Finish
Aluminum Siding
Heating Type
Forced Air, Gas
Cooling
Central Air
Basement Details
Finished, Separate Entrance
Community
Agent details
Primary Agent
Primary Broker
RE/MAX REALTRON REALTY INC.
Listing details
Days on REW
1 Day
MLS® Number
C14171514
Source
Toronto Real Estate Board
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Property Insights

Brebeuf College School
  • Catholic
  • 9 - 12
St Agnes Catholic School
  • Catholic
  • JK - 8
Lillian Public School
  • Public
  • JK - 5
St. Joseph Morrow Park Catholic Secondary School
  • Catholic
  • 9 - 12
St Michael Catholic Academy
  • Catholic
  • JK - 8
Abacus Montessori & Private School
  • Private
  • 1 - 5
North Toronto Private High School
  • Private
  • 9 - 12
UMC High School
  • Private
  • 7 - 12
Green Road High School
  • Private
  • 9 - 12
Heritage School of the Arts
  • Private
  • 7 - 12
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Broker
Hooman Bandarchi
Phone:
(416) 488-2875
Office:
416-222-8600
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