489 Lakeshore Road, Oakville, ON
Morrison, Oakville · MLS® W13030806
About this home
Welcome to 489 Lakeshore Road East, a truly exceptional estate crafted by the renowned Ferris Rafauli, nestled in the prestigious enclave of southeast Oakville along the serene shores of Lake Ontario. This rare one-acre property boasts a remarkable 18,000+ square foot steel-frame home, meticulously designed to showcase unparalleled craftsmanship and timeless elegance. Every detail of this exquisite residence speaks to a dedication to luxury living, from its concrete structure to its five bedrooms and eight baths, eight fireplaces, three kitchens, and elevator for seamless access to all levels. Indulge in the ultimate relaxation with amenities such as an indoor pool, built-in spa, dry sauna, and cabana with a full kitchen. The property also features a four-car garage, 600-amp electrical service, in-floor heating, and cutting-edge building operation systems, all complemented by award-winning landscaping that surrounds this magnificent estate. For the discerning buyer seeking the epitome of luxury living, 489 Lakeshore Road East offers an unparalleled opportunity to experience a lifestyle of opulence and refinement.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- W13030806
- Bedrooms
- 5 (4 + 1)
- Bathrooms
- 8 (2 half)
- Size
- 5,000 sq ft
- Lot
- 152 × 288 ft
- Cross streets
- Lakeshore Rd E. & Balsam Drive
- Parking
- 4 garage · 12 parking (attached)
- Driveway
- Circular Drive
- Basement
- Finished, Full
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete
- Foundation
- Concrete Block
- Roof
- Flat
- Sewer
- Sewer
- Pool
- Indoor
- Property tax
- $130,416 / 2025
- Days on market
- 86
- Listing brokerage
- ENGEL & VOLKERS TORONTO CENTRAL
Rooms
large window · wall sconce lighting · double doors
b/i shelves · closet · custom counter
fireplace · w/o to terrace · vaulted ceiling(s)
fireplace · wall sconce lighting · large window
w/o to balcony · large window · ensuite bath
4 pc ensuite · w/o to balcony · large window
fireplace · 6 pc ensuite · w/o to terrace
3 pc ensuite · w/o to balcony · large window
fireplace · w/o to garden · large window
breakfast area · w/o to garden · breakfast bar
Heads up: the asking price here sits well above what comparable listings suggest. That can point to premium finishes, a bigger lot, or simply an ambitious ask, so it is worth a close look before you offer. I would not put an automatic figure on this one. Tell me you are interested and I will pull the most comparable recent sales and give you a straight answer on what it will really take.
Ask Moe if this price is fairOn location, it is moderately walkable, so some daily errands are within reach and for the rest you will likely drive. Reynolds St + Randall St is about a 8-minute walk away.
What the listing highlightsThese are claims from the listing. The only way to know for sure is to see it in person, and I am happy to book you a private showing.
- Pool: lifestyle appeal, but adds maintenance, insurance, and resale is mixed.
- Elevator: rare and valuable for accessibility and resale.
- Weigh carefully
- Lifestyle
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 5 closest of 7 active listings nearby.
See all comparable homes81 days longer than the Oakville average (5 days).
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Morrison, Oakville, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
Getting around
WalkableA walkability read built from the amenities around this home: how close the nearest transit stop is, and how many grocery, dining, park, and pharmacy destinations fall within a 15-minute walk. It is a guide, not a guarantee. Places data from Google.
Many errands can be done on foot; a car still helps.
🚉 Nearest transit: Reynolds St + Randall St, about 633 m away
Within a 15-minute (1.5 km) walk.
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). Oakville.
Get the full neighbourhood report (schools, parks, transit & safety) →
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 3.99% via Ratehub.ca (as of July 17, 2026); conventional rates run a little higher.
Mortgage amount $19,184,000 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $102,373
- Property tax
- $10,868
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $113,241
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $585,975
- Estimated closing costs
- $585,975
Plus your down payment of $4,796,000. 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
- $6,142,377
- Principal paid down
- $2,443,087
- Interest paid
- $3,699,290
- Balance remaining
- $16,740,913
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
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of ENGEL & VOLKERS TORONTO CENTRAL. MLS®/PropTx.