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Listed 26 days ago

360 Melrose Street

Mimico, Toronto

$1,899,000

Detached|Sidesplit 4
4 | 2 | 6
About this home

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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Milad Momtaz Azad
Milad Momtaz Azad
(647) 510-8858
Julian Kashani
Julian Kashani
(416) 837-7775
TypeDetached
StyleSidesplit 4
Approx. Age51-99
Size1500-2000 sq. ft.
Property Tax$5,678
Lot Size50 ft x 125 ft
mls© NumberW13549180
Listed ByREALTY 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.

Down payment20% · $379,800
25-yr amortization

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 check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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