23 Sixteenth Street, Toronto, ON
New Toronto, Toronto · MLS® W13880122
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About this home
In short
- Welcome to 23 Sixteenth Street, a fully renovated and turnkey property set on an exceptionally wide 40 x 120 ft lot in a highly desirable South Etobicoke neighbourhood.
- Unit A offers 2 bedrooms, 2 bathrooms and a full kitchen.
- Unit B features 2 bedrooms, 1 bathroom and a kitchen, while Unit C offers 1 bedroom, 1 bathroom and its own kitchen.
- Fully renovated throughout, the home offers a fresh, modern and low-maintenance living environment for both owners and tenants.
- The property may also offer future potential for additional living space, additional residential units or a garden suite, subject to zoning, permits, municipal...
Welcome to 23 Sixteenth Street, a fully renovated and turnkey property set on an exceptionally wide 40 x 120 ft lot in a highly desirable South Etobicoke neighbourhood. Offering impressive flexibility, modern finishes and strong income potential, this is an excellent opportunity for investors, multi-generational families or end-users looking to offset carrying costs with rental income.The home is currently configured as three self-contained living spaces. Unit A offers 2 bedrooms, 2 bathrooms and a full kitchen. Unit B features 2 bedrooms, 1 bathroom and a kitchen, while Unit C offers 1 bedroom, 1 bathroom and its own kitchen. In total, the property provides 5 bedrooms, 4 bathrooms and 3 kitchens. Each unit is equipped with its own electrical sub-panel and independently controlled heating and cooling, adding convenience, functionality and greater separation between living spaces.Fully renovated throughout, the home offers a fresh, modern and low-maintenance living environment for both owners and tenants. Live in one unit while generating income from the others, accommodate extended family, or utilize the entire property as an income-producing investment.A major highlight is the impressive 40-ft frontage and generous 120-ft depth, offering a substantial lot that is difficult to find in the area. The property may also offer future potential for additional living space, additional residential units or a garden suite, subject to zoning, permits, municipal approvals and buyer due diligence.Ideally located within walking distance of shops, schools, restaurants, parks, Lake Ontario, beaches and public transit, with convenient access in and out of the city.A rare opportunity combining a substantial lot, turnkey condition, multiple living spaces, rental potential and long-term possibilities in one of South Etobicoke's established lakeside communities.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- W13880122
- Bedrooms
- 5
- Bathrooms
- 4 (1 half)
- Size
- 1500-2000 sq ft
- Lot
- 40 × 120 ft
- Cross streets
- Sixteenth St & Lake Shore Blvd
- Parking
- 4 parking
- Driveway
- Available
- Basement
- Apartment
- Heating
- Heat Pump
- A/C
- Wall Unit(s)
- Exterior
- Stucco (Plaster)
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $3,597 / 2025
- Days on market
- 8
- Listing brokerage
- RE/MAX REALTRON REALTY INC.
No automatic estimate is shown here: there are not enough closely comparable recent sales nearby to support one.
Considering this property? Request a written price readThe assigned public school is Twentieth 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.
Neighbourhood & location
New Toronto, Toronto, ON
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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: 5 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
Conventional (20%+ down). Best insured 5-year fixed 4.34% via Ratehub.ca (as of October 19, 2026); conventional rates run a little higher.
Mortgage amount $862,400 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $4,768
- Property tax
- $300
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $5,068
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $18,035
- Toronto municipal land transfer tax
- $18,035
- Estimated closing costs
- $36,070
Plus your down payment of $215,600. 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
- $286,101
- Principal paid down
- $105,369
- Interest paid
- $180,732
- Balance remaining
- $757,031
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
Income potential: the basement has a separate entrance, which often supports a rentable in-law or second suite. That can lift real rent well above the figure above and help carry the mortgage. Ask us about permitted use in this area.
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 RE/MAX REALTRON REALTY INC.. MLS®/PropTx.