228 Hollywood Avenue, Toronto, ON
Willowdale East, Toronto · MLS® C13678216
About this home
In short
- Prime Willowdale East redevelopment opportunity or investment.
- Well-maintained 1 1/2 storey home featuring a spectacular family room addition with high ceilings, gas fireplace, and walk-out to a patio.
- Prime 45' x 131' lot surrounded by multi-million dollar luxury custom homes.
- Features 4+1 bedrooms, finished basement with separate entrance, updated stucco exterior, 100-amp breakers, and a private driveway with detached garage.
- Property and all chattels/fixtures sold in "As Is, Where Is" condition.
Prime Willowdale East redevelopment opportunity or investment! Well-maintained 1 1/2 storey home featuring a spectacular family room addition with high ceilings, gas fireplace, and walk-out to a patio. Prime 45' x 131' lot surrounded by multi-million dollar luxury custom homes. Features 4+1 bedrooms, finished basement with separate entrance, updated stucco exterior, 100-amp breakers, and a private driveway with detached garage. Live in, rent out, or plan your dream home in one of Toronto's most desirable neighborhoods. Steps to top-ranked Earl Haig SS, Hollywood PS, TTC/Subway bus, Bayview Village, and Hwy 401. Property and all chattels/fixtures sold in "As Is, Where Is" condition.
Key facts
- Property type
- Detached, 1 1/2 Storey
- MLS®
- C13678216
- Bedrooms
- 4+1 (5 total)
- Bathrooms
- 4
- Size
- 1500-2000 sq ft
- Lot
- 45 × 131 ft
- Cross streets
- Willowdale/Hollywood
- Parking
- 1 garage · 5 parking (detached)
- Driveway
- Private
- Basement
- Finished, Separate Entrance
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Stucco (Plaster)
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $10,865 / 2026
- Days on market
- 46
- Listing brokerage
- HOMELIFE LANDMARK REALTY INC.
Rooms
Closet
window · laminate
Window
window · walk-in closet(s) · laminate
laminate · gas fireplace · w/o to patio
Laminate
Window
broadloom · panelled
Window
closet · window
Listed at $1,508,000. Going by how homes in Willowdale East and the wider GTA have actually closed against their asking prices (about 97%, 30 local closings in 90 days), the likely sale price is near $1.46M, if it sells. A realistic range is $1.37M to $1.65M.
Independent value check: $1.73M. Without looking at the asking price, our model values the home itself about 15% above the ask (homes like it typically land between $1.62M and $1.82M).
Why $1.73M. The typical detached home sold in Willowdale East over the past year went for about $2.29M (110 sales). What sets this one apart:
- ▼ Lowers it stronglyIt is 1,500 to 2,000 sq ft; the typical home sold here is 3,000 to 3,500.
- ▼ Lowers it stronglyIts tax bill, which follows the city's own assessment, is $10,865 a year; the typical home sold here pays about $14,400.
- ▼ Lowers itThe listing presents it as a home to renovate or rebuild.
- ▼ Lowers it slightly4+1 bedrooms and 4 baths, against 4+1 and 5 typically.
Total price vs nearby homes. Likely closing about $1.46M, from 30 recent closings in this pocket.
The market behind the math:
About 0.6 months of inventory: 6 detached homes for sale in the area against 30 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $862/sqft against an area asking average of $1,176/sqft.
- Separate-entrance basement apartment features. A finished 1 bed basement apartment with a separate entrance. A self-contained space for extended family, guests or potential income. Basements do rent in Willowdale East: 30 of the 227 detached leases here lately were basement units, around $2,150 a month. That makes the suite real income. Second-suite retrofit status is not verified. A buyer intending to rent should confirm requirements with the City of Toronto.
How this estimate is builtthe short version
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood.
It never sees the asking price. The 30 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.61M. Condition and finishes remain an in-person call.
What the listing highlights5 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Separate entrance / basement suite: rental or in-law income potential, if it is legally registered and retrofit-compliant. Income potential
- Finished basement: added living space, worth checking ceiling height and that the work was permitted. Value driver
- Addition / added square footage: more space lifts value when it is permitted and well integrated, verify the permits. Value driver
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room. Worth verifying
- Sold as-is / needs work: budget for renovation, the price should reflect the condition. Weigh carefully
Schools & getting aroundcatchment and transit
On schools, this address is zoned for Hollywood Public School, one of the higher-rated public schools in the area. A strong catchment tends to hold value and widen your resale pool, especially with family buyers.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Willowdale East, so I widened the search to the surrounding area.
Based on 30 comparable homes that sold in Willowdale East over the past two years, from 214 closings there.
Nothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market. Homes like this one have recently closed around $1.73M, which is where my estimate comes from.
Per square foot, these ask about $1,019/sqft; this home lists at $862/sqft. Size is part of the price story, not just the sticker.
The 4 closest active listings nearby.
See all comparable homesNeighbourhood & location
Willowdale East, Toronto, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Toronto.
Get the full neighbourhood report (schools, parks, transit & safety) →
The public and Catholic schools this address is zoned for, with EQAO results (the share of students meeting Ontario's provincial standard).
School attendance boundaries and EQAO results are Ontario government data and can change. Confirm the current catchment with the school board before relying on it.
Also nearby: 12 more schools within 2.5 km
Not the assigned catchment: schools a family here could reach, with EQAO results where published.
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 4.34% via Ratehub.ca (as of September 30, 2026); conventional rates run a little higher.
Mortgage amount $1,206,400 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $6,670
- Property tax
- $905
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $7,576
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $26,635
- Toronto municipal land transfer tax
- $26,635
- Estimated closing costs
- $53,270
Plus your down payment of $301,600. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $400,224
- Principal paid down
- $147,400
- Interest paid
- $252,824
- Balance remaining
- $1,059,000
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
The suite is real income here: basements rent in Willowdale East (30 of 227 recent detached leases were basement units, around $2,150 a month). The figure above is the whole house on one lease; rented as two units, the suite alone brings about $2,150 a month on top of the upper floors. Permitted use is worth confirming with the city.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersThe last 27 whole-home leases in Willowdale East signed at a median of $4,300 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $4,861. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of HOMELIFE LANDMARK REALTY INC.. MLS®/PropTx.