23 Roycrest Avenue
Lansing-Westgate, Toronto
$2,388,000
**RARE RAVINE-BACKED INVESTMENT & DEVELOPMENT OPPORTUNITY IN PRIME NORTH YORK!**Nestled at the end of a quiet cul-de-sac, this exceptional property offers approximately 1.8 acres of ravine setting, mature trees, beautiful natural surroundings and outstanding privacy.**Featuring a LEGAL WALK-OUT BASEMENT APARTMENT with strong existing rental income!** An excellent opportunity for investors seeking immediate cash flow while exploring the property's long-term potential.Ideal for luxury custom home buyers, builders and developers looking to explore a magnificent custom estate, multi-unit residential development or purpose-built rental apartments, subject to municipal approvals, zoning and ravine protection regulations.Conveniently located near Yonge & Sheppard, subway access, shopping, restaurants, schools and major highways.**A UNIQUE OPPORTUNITY COMBINING CURRENT RENTAL INCOME, EXCEPTIONAL PRIVACY, NATURAL BEAUTY AND FUTURE DEVELOPMENT POTENTIAL!**
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| Type | Detached |
| Style | Bungalow |
| Approx. Age | Not available |
| Size | 1100-1500 sq. ft. |
| Property Tax | $11,191 |
| Lot Size | 31.08 ft x 489 ft |
| mls© Number | C14135216 |
| Listed By | HOMENET REALTY INC. |
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%
- $12,223
- Property tax
- $933
- Heat allowance
- $150
- Housing costs
- $13,305 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$409,000
gross annual household income
- Payment at 4%
- $10,049 / mo
- Cash down
- $477,600
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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