2685 Lake Shore Boulevard, Toronto, ON
Mimico, Toronto · MLS® W13793272
About this home
In short
- A rare waterfront assemblage on Lake Ontario: 2679 & 2685 Lake Shore Blvd W-offered for land value and future redevelopment.
- 2679 includes an existing house (currently tenanted) to be delivered with vacant possession, offering flexibility while you complete planning and approvals.
- Land sale; property sold in "as is, where is" condition.
A rare waterfront assemblage on Lake Ontario: 2679 & 2685 Lake Shore Blvd W-offered for land value and future redevelopment. Set along Toronto's coveted south shoreline, this site captures sweeping, unobstructed south-facing water views and a striking nighttime skyline of the downtown core. Positioned within an established, amenity-rich lakeshore neighborhood with strong rental fundamentals, the property presents an exceptional canvas for developers seeking a mid-rise, multi-family vision-purpose-built rental being a highly compelling end use. Imagine residents stepping out to the waterfront, trails, and parks, with seamless connectivity to the city via the Lake Shore corridor and convenient access to transit, commuter routes, and everyday essentials. 2679 includes an existing house (currently tenanted) to be delivered with vacant possession, offering flexibility while you complete planning and approvals. Opportunities to secure meaningful waterfront presence with iconic views and redevelopment scale are increasingly scarce-this is your chance to create a landmark address on the lake. Buyer to conduct their own due diligence regarding zoning, planning, and all development potential. Land sale; property sold in "as is, where is" condition.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- W13793272
- Bedrooms
- 3
- Bathrooms
- 2
- Size
- 1100-1500 sq ft
- Lot
- 115.25 × 180 ft
- Cross streets
- Royal York & Lake Shore Blvd W
- Parking
- 4 parking
- Basement
- Other
- Heating
- Forced Air
- A/C
- Other
- Exterior
- Brick
- Foundation
- Unknown
- Roof
- Shingles
- Sewer
- Sewer
- Property tax
- $30,442 / 2025
- Days on market
- 30
- Listing brokerage
- SOTHEBY'S INTERNATIONAL REALTY CANADA
This is a rare parcel: about 0.48 acres. Comparable-sales math works on size and bedrooms, and here the lot is what is being sold, so no automatic estimate is shown.
Considering this property? Request a written price readThe assigned public school is Seventh Street Junior School. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
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 $1.59M, which is where my estimate comes from.
Per square foot, these ask about $938/sqft; this home lists at $4,612/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesSold price trend
Median sold price for detached homes in Mimico: $1.45M in September 2026, up 4% from a year ago, on 65 closings in 8 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| February 2026 | $1.47M | 6 |
| March 2026 | $1.02M | 8 |
| April 2026 | $1.06M | 13 |
| May 2026 | $1.30M | 13 |
| June 2026 | $1.27M | 5 |
| July 2026 | $1.19M | 8 |
| August 2026 | $1.10M | 7 |
| September 2026 | $1.45M | 5 |
Neighbourhood & location
Mimico, Toronto, ON
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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: 6 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 October 17, 2026); conventional rates run a little higher.
Mortgage amount $4,796,000 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $26,518
- Property tax
- $2,537
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $29,055
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $136,350
- Toronto municipal land transfer tax
- $196,200
- Estimated closing costs
- $332,550
Plus your down payment of $1,199,000. 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
- $1,591,074
- Principal paid down
- $585,983
- Interest paid
- $1,005,092
- Balance remaining
- $4,210,017
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 numbersThe last 40 whole-home leases in Mimico signed at a median of $3,005 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $3,322. 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 SOTHEBY'S INTERNATIONAL REALTY CANADA. MLS®/PropTx.