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New3 hours ago

22 Birchlea Avenue

Long Branch, Toronto

$1,699,990

Detached|Bungalow
2 | 2 | 6
About this home

RARE PERMIT-READY MULTIPLEX OPPORTUNITY IN PRIME LONG BRANCH! An exceptional 50 x 130 ft property offering outstanding scale, approvals and flexibility. Permits are issued to construct a three-storey fourplex, with approved drawings featuring over 6,000 sq. ft., 10 ft ceilings in the lower and upper levels, skylights, two three-bedroom upper 2 story units and two one-bedroom-plus-den lower units and two garage. The property also offers potential for an additional dwelling (5th) at the rear, further expanding its income-producing possibilities and long-term value. This is a shovel-ready opportunity. The required planning, architectural and permit work is complete, allowing the next owner to move directly toward construction without the delays, added costs and uncertainty of starting the approval process from scratch. With the project de-risked at the planning and approval stage, it may also be well positioned for multiplex construction financing, subject to lender approval and buyer qualifications. No City development charges and no HST further strengthen the financial appeal and potential returns. Until construction begins, the existing well-maintained brick bungalow provides flexibility to live in, rent out or hold. Ideally located on a quiet residential street south of Lake Shore Blvd. in one of Toronto's most desirable waterfront communities, minutes from Lake Ontario, Marie Curtis Park, waterfront trails, yacht clubs, parks, schools, shopping and restaurants. Convenient access to Long Branch GO Station, TTC, major highways, the upcoming Ontario Line with a direct connection to Downtown Toronto and future LRT service adds exceptional connectivity. Opportunities combining a large lot, existing home, approved multiplex plans and permits are increasingly difficult to find. Build a substantial multi-unit project, create a strong income-producing asset and secure a valuable piece of Long Branch.

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BrokerHub Inc.
(647) 254-1864
TypeDetached
StyleBungalow
Approx. Age100+
Size700-1100 sq. ft.
Property Tax$5,369
Lot Size50 ft x 130 ft
mls© NumberW13750810
Listed ByRED HOUSE REALTY

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What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$8,701
Property tax
$447
Heat allowance
$150
Housing costs
$9,299 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $339,998
25-yr amortization

Income needed

$286,000

gross annual household income

Payment at 4%
$7,154 / mo
Cash down
$339,998

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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