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Mimico, Toronto
$6,995,000
A rare waterfront assemblage on Lake Ontario: 2679 & 2685 Lake Shore Blvd W-offered for land value and future redevelopment. Set along Toronto's coveted south shoreline, this site captures sweeping, unobstructed south-facing water views and a striking nighttime skyline of the downtown core. Positioned within an established, amenity-rich lakeshore neighbourhood with strong rental fundamentals, the property presents an exceptional canvas for developers seeking a mid-rise, multi-family vision-purpose-built rental being a highly compelling end use. Imagine residents stepping out to the waterfront, trails, and parks, with seamless connectivity to the city via the Lake Shore corridor and convenient access to transit, commuter routes, and everyday essentials. 2679 includes an existing house (currently tenanted) to be delivered with vacant possession, offering flexibility while you complete planning and approvals. Opportunities to secure meaningful waterfront presence with iconic views and redevelopment scale are increasingly scarce-this is your chance to create a landmark address on the lake. Buyer to conduct their own due diligence regarding zoning, planning, and all development potential. Land sale; property sold in "as is, where is" condition.
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| Type | Detached |
| Style | 2-Storey |
| Approx. Age | Not available |
| Size | 1100-1500 sq. ft. |
| Property Tax | $30,442 |
| Lot Size | 115.25 ft x 180 ft |
| mls© Number | W12733810 |
| Listed By | SOTHEBY'S INTERNATIONAL REALTY CANADA |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Schools
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $35,804
- Property tax
- $2,537
- Heat allowance
- $150
- Housing costs
- $38,490 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$1,184,000
gross annual household income
- Payment at 4%
- $29,436 / mo
- Cash down
- $1,399,000
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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