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Listed 2 months ago

5 - 885 Lakeshore Road E

Lakeview, Mississauga

$775,000

Condo Apartment |
3 | 2 | 2 | 0
About this home

Welcome to this rarely offered residential condo, a versatile mixed-use space zoned for both commercial and residential use, located in a boutique low-rise building in the heart of Lakeview. This ground-level unit is bright and airy with a loft-like appeal, making it ideal for those seeking a live/work environment. It features two separate entrances, prime Lakeshore Road retail exposure, and is currently tenanted by a commercial tenant until the end of Sep. The open-concept layout boasts soaring 10.5 ft ceilings, 2 bedrooms, and 2 baths, along with a full-size kitchen and ensuite laundry. The dedicated storefront area can serve as a home office, a third bedroom, or additional living space. A private patio and two designated direct parking spots enhance the convenience of this property. Perfectly located just steps from Lakefront Promenade Park and Marina, minutes from the vibrant Port Credit area, and with quick access to Long Branch GO Station for a 25-minute commute to downtown Toronto.

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agent
Angela Montano
(647) 283-2643
TypeCondo Apartment
StyleApartment
Approx. Age16-30
Size800-899 sq. ft.
Maintenance Fees$395
LockerNone
BalconyTerrace
ExposureSouth
Parking TypeNone
Parking Spaces2
Parking FeaturesSurface
Property Tax$4,500
mls© NumberW13453830
Listed ByCHESTNUT PARK REAL ESTATE LIMITED
Common Elements Included
Building Insurance Included
Parking Included

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%
$3,967
Property tax
$375
Heat allowance
$150
Condo fees, half counted
$198
Housing costs
$4,689 / mo

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

Down payment20% · $155,000
25-yr amortization

Income needed

$144,000

gross annual household income

Payment at 4%
$3,261 / mo
Cash down
$155,000

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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