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New2 hours ago

9 East Road

Birchcliffe-Cliffside, Toronto

$999,900

Detached|2-Storey
4 | 3 | 8
About this home

Attention Investors, Builders & Developers! A once-in-a-lifetime opportunity to acquire a 50' x 100' double lot in the highly sought-after Birch Cliff neighbourhood. This exceptional property offers incredible development potential in an A+ Toronto location. This property had already been approved for two detached homes, providing a clear development path. Explore the potential for two stunning custom-built residences or alternative multi-unit development opportunities, subject to all applicable approvals.With the potential to achieve up to 3 stories, there may be significant opportunity to maximize the site's development potential. Investors and developers can also explore Toronto's Development Charge Reduction Program (DCRP), which may provide substantial savings on applicable development charges, potentially reducing costs by up to 60%, subject to eligibility and current program requirements. Located in one of Toronto's most desirable east-end communities, steps to schools, restaurants, the coveted Toronto Hunt Club, this rare double lot offers an outstanding combination of land, location, flexibility, and upside. The Existing Home Has 4 Bedrooms and a separate basement apartment with 2 bedrooms, currently fully tenanted. With a huge driveway fitting up to 8 cars. Providing a great tool for carrying costs. A rare development opportunity in Birch Cliff that should not be missed!

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
Style2-Storey
Approx. AgeNot available
Size1500-2000 sq. ft.
Property Tax$5,927
Lot Size50 ft x 100 ft
mls© NumberE13720126
Listed ByROYAL LEPAGE VISION 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%
$5,118
Property tax
$494
Heat allowance
$150
Housing costs
$5,762 / mo

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

Down payment20% · $199,980
25-yr amortization

Income needed

$177,000

gross annual household income

Payment at 4%
$4,208 / mo
Cash down
$199,980

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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