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New12 hours ago

2685 Midland Avenue

Agincourt South-Malvern West, Toronto

$3,880,000

Detached|Bungalow
4 | 3 | 10
About this home

Income Today Development Tomorrow! Attention Builders & Investors! Rare opportunity to acquire two adjoining deep lots in prime Agincourt: 2683 & 2685 Midland Ave, offering approximately 125 ft of combined frontage x 227 ft depth (28,395 sq ft/0.65 acres). Severance planning is underway for a proposed four-lot configuration, retaining both existing homes on Midland Ave and creating two additional lots fronting Havendale Rd. Proposed retained lots: 2685A (62.49 ft x 115 ft; approx. 7,186 sq ft) and 2683A (62.74 ft x 115 ft; approx. 7,215 sq ft). Proposed Havendale lots: 2685B and 2683B (each approx. 56 ft x 125 ft; appro 7,000 sq ft). Each newly created lot is estimated at $1M-$1.2M. Severance process is underway with an estimated 18-month timeline. All lot dimensions, values and development concepts are estimates, subject to survey, zoning, servicing and municipal approvals. Explore additional redevelopment potential under Toronto's EHON initiative, including up to six units in qualifying detached buildings under Ward 23 permissions, and townhouse or small-scale apartment options under the Major Streets framework, subject to eligibility and approvals. The two existing residential buildings offer a combined 18 bedrooms and 16 bathrooms, plus a separate draft beer and café room. Airbnb and international student accommodations generate reported average combined revenue of approximately $20,000/month. Four years of supporting income records available to qualified buyers. Seller willing to provide at least one year of transition and operational support on agreed terms. The property is being transformed into a beautiful European-style garden estate, offering established accommodation income and long-term investment potential. Close to schools, parks, shopping, transit, Agincourt GO and Hwy 401. Asking price includes both properties; separate purchases negotiable.

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agent
Macallum Tepsich
(647) 326-2579
TypeDetached
StyleBungalow
Approx. AgeNot available
Size1500-2000 sq. ft.
Property Tax$6,900
Lot Size62.42 ft x 227 ft
mls© NumberE14138002
Listed ByKW Living Realty

Listing History

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  • No recent lease history for this listing.

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What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$19,860
Property tax
$575
Heat allowance
$150
Housing costs
$20,585 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $776,000
25-yr amortization

Income needed

$633,000

gross annual household income

Payment at 4%
$16,328 / mo
Cash down
$776,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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