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Mimico, Toronto
$1,899,000
Rare Permit-Issued Two-Home Development Opportunity - 360 Melrose A & B. Listing Price Is For The Full Two-Lot Package; Seller May Also Consider Selling Each Lot Individually. Attention Builders, Investors, And End Users. Severance Approved For Two 25 Ft X 125 Ft Lots With City-Assigned Addresses 360 Melrose A And 360 Melrose B. Building Permits Issued For Two Architecturally Distinct Modern/Contemporary Detached Homes Designed By The Renowned Contempo Studios. Each Home Has Its Own Unique Layout, Character, And Street Presence, Offering Over 2,100 Sq. Ft. Above Grade And Over 2,950 Sq. Ft. Including Basement. All Architectural Drawings, Working Drawings, And Construction Drawings Have Been Completed And Paid For. Permission To Remove Trees Has Been Granted. Buyer Can Start Construction Right Away With The Major Planning, Design, Severance, Tree, And Permit Work Already Completed. Existing Detached 4-Bedroom Bungalow With Basement Offers Flexibility To Build A Shovel-Ready Project Now Or Hold And Build Later. Ideal For Builders, Investors, Or End Users Looking To Build Two Custom Homes, Build One And Sell One, Create Side-By-Side Family Residences, Purchase One Lot Individually, Or Hire The Seller To Build. Located On A Quiet Interior Street In A Convenient Etobicoke Pocket, Minutes To Mimico, The Queensway, Sherway Gardens, Major Highways, Parks, Schools, Transit, And Everyday Amenities. Seller Is An HCRA/Tarion Licensed Builder And Can Build For The Purchaser.
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| Type | Detached |
| Style | Sidesplit 4 |
| Approx. Age | 51-99 |
| Size | 1500-2000 sq. ft. |
| Property Tax | $5,678 |
| Lot Size | 50 ft x 125 ft |
| mls© Number | W13549180 |
| Listed By | REALTY ONE GROUP FLAGSHIP |
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%
- $9,720
- Property tax
- $473
- Heat allowance
- $150
- Housing costs
- $10,343 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$318,000
gross annual household income
- Payment at 4%
- $7,991 / mo
- Cash down
- $379,800
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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