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1634 - 165 Legion Road N
Mimico, Toronto
$489,000
Excellent investment opportunity in Toronto's established Mimico waterfront community. This bright and well-maintained 1+den suite offers a functional open-concept layout, floor-to-ceiling windows, abundant natural light, in-suite laundry, central air conditioning, an owned underground parking space and an owned locker.Conveniently located near the waterfront, parks, walking and cycling trails, cafés, restaurants, grocery stores, TTC, Mimico GO Station and the Gardiner Expressway, offering excellent connectivity to downtown Toronto.Sold with an existing tenant in place, providing immediate rental income from closing. The purchaser will assume the existing tenancy and all related landlord obligations, with the tenant's lawful rights and occupancy fully preserved. An attractive opportunity to acquire a tenanted, income-producing property in a desirable waterfront neighbourhood.
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| Type | Condo Apartment |
| Style | Apartment |
| Approx. Age | 11-15 |
| Size | 500-599 sq. ft. |
| Maintenance Fees | $706 |
| Locker | Owned |
| Balcony | Open |
| Exposure | North East |
| Parking Type | Other |
| Parking Spaces | 1 |
| Parking Features | None |
| Property Tax | $2,066 |
| mls© Number | W13692720 |
| Listed By | Century 21 Miller Real Estate Ltd., Brokerage |
Listing History
- No recent sale history for this listing.
- 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%
- $2,503
- Property tax
- $172
- Heat allowance
- $150
- Condo fees, half counted
- $353
- Housing costs
- $3,178 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$98,000
gross annual household income
- Payment at 4%
- $2,058 / mo
- Cash down
- $97,800
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
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