$1,588,000
185 Steeles Ave E
Toronto C14, ON M2M 3Y6
185 Steeles Ave E, Toronto C14 — Listed at $1,588,000. 6 bedroom, 5 bathroom 1 1/2 Storey Detached. MLS® C14171514.
Possession · seller's timeline
60-89 days
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Description
**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.*
Property Details
Property Insights
Listing Courtesy of: RE/MAX REALTRON REALTY INC.
MLS® #C14171514
The listing data is provided under copyright by the Toronto Regional Real Estate Board (TRREB). The listing data is deemed reliable but is not guaranteed accurate by TRREB. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
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HouseIndex Take: 185 Steeles Avenue E
This detached (1 1/2 Storey) is located in the Newtonbrook East neighbourhood of Toronto.
The home offers 6+2 bedrooms, 5 bathrooms.
Features include a finished, separate entrance basement, 8 parking spaces including a 1-car garage.
Additional details: lot dimensions of 67 × 120.75 feet.
Listed at $1,588,000 CAD with annual property taxes of $7,473 (2025).
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About Toronto Real Estate
This Detached is located in the Newtonbrook East community in Toronto. Toronto is Canada's largest city and the economic hub of the Greater Toronto Area. With world-class transit, diverse neighbourhoods from the Annex to Scarborough, and proximity to major employers in the Financial District, it remains the most sought-after real estate market in Ontario. Buyers benefit from extensive GO Transit and TTC subway connectivity. Detached homes in Toronto are in high demand among families seeking space, privacy, and long-term equity growth.