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New2 hours ago

1634 - 165 Legion Road N

Mimico, Toronto

$489,000

Condo Apartment |
1 + 1 | 1 | 1 | 1
About this home

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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agent
Angela Montano
(647) 283-2643
TypeCondo Apartment
StyleApartment
Approx. Age11-15
Size500-599 sq. ft.
Maintenance Fees$706
LockerOwned
BalconyOpen
ExposureNorth East
Parking TypeOther
Parking Spaces1
Parking FeaturesNone
Property Tax$2,066
mls© NumberW13692720
Listed ByCentury 21 Miller Real Estate Ltd., Brokerage
Heat Included
Water Included
CAC Included
Common Elements Included
Building Insurance Included
Parking Included

Listing History

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

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Could you afford this home?

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.

Down payment20% · $97,800
25-yr amortization

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 check

Investment Analysis

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

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