$1,899,000

For saleJust listed

340 Patricia Avenue, Toronto (Newtonbrook West) - Single Family for Sale

340 Patricia Avenue, Toronto (Newtonbrook West), Ontario, M2R2M7

9 beds8 baths6 parking1,300 ft²50 × 134 ft (6,690 sq ft) lot sizeListed 2 days ago

Overview

This 9-bedroom, 8-bathroom home in Toronto is for sale offering roughly 1,300 sq ft of space. Its $1,899,000 asking price sits right in line with the $1,888,000 median in Toronto. It has been on the market 2 days, fresher than the Toronto average of 58 days.

Houses for Sale in Toronto →All real estate in Toronto →

Description

Absolutely Must See! Exceptional Fantastic Investment Opportunity! Premium 50 Ft Corner Lot Featuring An Upgraded Bungalow with A Separate Walk-Out Basement Apartment Plus A New Stylish Masterfully Built "Garden Suite" Based On Energy Efficient Design, Offering 3 Separate Living Units With Outstanding Income Potential& Variety Of Uses! Thoughtfully Designed& Expertly Crafted With High-End Finishes, Modern Features, and Advanced Engineering& Technology! This Unique Property Presents An Ideal Opportunity For Investors, Multi-Generational Families, Or Buyers Seeking Multiple Income Streams. The Newly Masterfully Built Garden Suite In 3Levels (3X645 = 1935 Sq.Ft ) >> * Main Floor with Living Rm, Dining Rm, Kitchen, Bedrm, 2-Pc Powder Rm& 4-Pc Ensuite! * 2nd Floor with Living Rm, Kitchen, 2 Bedrms, 2 x 3-Pc Ensuite! * Bright & Sunny Heated Floor Basement with Living Rm, Dining Rm, Kitchen& A Bedrm! All of Them Has Their Own Laundry Machine! These Configuration Includes Main Basement Apartments& 3 Garden suites Creates Excellent Potential For Rental Income& Enhances The Property's Revenue Opportunities. Beyond Its Immediate Income Potential, This Strategic Corner Bungalow Also Present an Exciting Future Redevelopment Opportunity, With Potential To Explore Multi-Unit Residential Construction Under The City Of Toronto's MLI Select Financing Program, Subject To Applicable Zoning, Planning Approvals, Building Requirements, and CMHC Eligibility.** An Outstanding Opportunity To Generate Income Today & During the Construction of Main Bungalow in the Future. A Rare Offering Combining Immediate Income Potential, Versatility& Future Development Possibilities! The New Garden Suite Represents A Significant Investment, With Construction Costs Exceeding $700,000! Uniquely Designed & Built With Independent Utility Connections, Offering A Significant Advantage For Future Redevelopment!Buyer To Verify with City Ideas For Potential Future Multi-Unit Redevelopment Attached to Photo Galler (id:66096)

Property Details

MLS®: C14142132
Property Type: Single Family
Bedrooms: 9
Beds (above / below): 3 above · 6 below
Bathrooms: 8
Half Baths: 1
Parking: 6
Interior Size: 1,300 ft²
Lot Size: 50 × 134 ft (6,690 sq ft)
Frontage: 50 ft
Basement: Finished, Separate entrance, Walk out, N/A, N/A
Heating: Heat Pump, Forced air, Natural gas
Cooling: Central air conditioning
Garage: No Garage
Ownership: Freehold
Property Tax: $6,591/yr
Listed: 2 days ago

Rooms

Main level

Living room: 5.1 x 3.3 meters
Living room: 3.1 x 2.81 meters
Dining room: 2.53 x 2.36 meters
Kitchen: 4.03 x 2.35 meters
Bedroom: 3.68 x 2.82 meters
Dining room: 2.61 x 2.4 meters
Kitchen: 3.1 x 2.46 meters
Primary Bedroom: 3.6 x 3.4 meters
Bedroom 2: 3.61 x 2.54 meters
Bedroom 3: 3.38 x 2.7 meters

Second level

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Oven, Dryer, Microwave, Cooktop, Freezer, Hood Fan, Blinds, Water Heater
Flooring: Hardwood, Laminate, Carpeted
Foundation: Block, Poured Concrete
Exterior: Brick, Stucco
Lot Features: Guest Suite, Sump Pump

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Toronto (Newtonbrook West) listings, avg age

58d

Price / ft²

$1,461

List price

$1.90M

Homes here sell faster than most markets

Sold homes in this market spent an average of 33 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell below asking price

Homes in this market sold for an average of 94.6 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This 9-bed single family in Toronto (Newtonbrook West) has been listed for 2 days, which is 56 days fresher than the city average of 58. Act while there is still low competition.

Set a price alert Book a showing

Listed by RE/MAX REALTRON BIJAN BARATI REAL ESTATE · BIJAN BARATI

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M2R)

This home lists at $1,899,000, about 24.3× the local median household income of $78,000.

Carrying it typically needs a household income of about $370,941 (20% down, 25-yr amortization, stress-tested) — roughly 376% above the area median.

Median household income: $78,000
Population: 40,581
Median age: 44.4
Owner / renter: 44% / 56%
Avg. household size: 2.6

Source: Statistics Canada, 2021 Census (FSA M2R)

$1,899,000· $1,461/ft²

For sale

Book a showing

Pick a time that suits you. A verified local agent confirms within 24h.

Full Cost Breakdown

Loading rates, 30-yr amortization

Current Rates

Loading…

Compare all rates

Down Payment20% · $379,800

Min 20%50%

Mortgage payment$8,099/mo

Property tax (est.)$549/mo

Total monthly$8,648

Cash Needed to Close

Down payment (20%)$379,800

Land transfer tax$68,910

Est. closing costs$8,197

Total cash needed$456,907

Get Pre-Approved · Free & Fast

Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice