185 Steeles Ave E

About this Property

**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.*

Listing Details

MLS #

C14171514

Board

PROPTX

Market

ontario

Property Type

Detached

Style

1 1/2 Storey

Garage

Detached

Garage Spaces

1

Parking Spaces

8

Basement

Finished, Sep Entrance

Heating

Forced Air

Cooling

Central Air

Pool

None

Lot Size

67 × 120.75 ft

Annual Taxes

$7,473/yr

Listed By

REMAX REALTRON REALTY INC.

Listed On

November 11, 2026

Features & Extras