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New7 days ago

340 Patricia Avenue

Newtonbrook West, Toronto

$1,899,000

Detached|Other
3 | 8 | 6
About this home

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 Gallery!

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nest zoom realty
(416) 276-9973
TypeDetached
StyleOther
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$6,591
Lot Size50 ft x 133.8 ft
mls© NumberC14142132
Listed ByRE/MAX REALTRON BIJAN BARATI REAL ESTATE

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Schools

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What the bank counts

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

Mortgage, tested at 6%
$9,720
Property tax
$549
Heat allowance
$150
Housing costs
$10,419 / mo

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

Down payment20% · $379,800
25-yr amortization

Income needed

$321,000

gross annual household income

Payment at 4%
$7,991 / mo
Cash down
$379,800

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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