A rare 50 x 100 ft parcel in South Etobicoke, approved by the Committee of Adjustment to sever into two building lots, with a solid, income-producing bungalow already on the property. Owner occupied - no tenants. The opportunity is what makes this property so unique. Minor variance approvals are in place for two single-family detached homes, each with an attached garage and rear deck. Each lot is approved for a 1,902 sq ft home - 3,804 sq ft total above grade, plus finished basements and attached garages. The approved 0.78 FSI provides approximately 30% more house than the 0.60 base zoning allowance on each lot. The approved homes feature 3 bedrooms + 1 bedroom in the lower level (3+1) and 3.5 bathrooms. The second floor includes a primary bedroom with walk-in closet and ensuite, plus two additional bedrooms sharing a 4-piece bathroom. The main floor includes a powder room, while the lower level provides a fourth bedroom with a guest bathroom. A complete pre-development package is included, meaning much of the hard work is already done. The package includes issued-for-permit architectural drawings, structural engineering, HVAC design, survey, R-Plan, arborist report and tree permit, Stage 1-2 archaeological assessment, and 3D photorealistic renderings. Just minutes' walk to the lake and steps to Humber College, the waterfront and bike trails, with easy access to public transit and the Gardiner. Live in the existing bungalow, generate income, or build two new homes - the approvals and pre-development work are already in place. **Rendering Drawings to show example, some photos are virtually staged **
2 bedrooms, 2 bathrooms, about 700 sq ft, works out to roughly $2,143 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this detached fits your budget and timing.
Inside 48 Sixteenth St
Every detail from the listing, in one place.
Type
Detached
Style
Bungalow
Living space
700-1100 sq ftas stated on the listing
Parking
6 spaces
Basement
Separate Entrance, Finished
Features & systems
Parking & garage
Parking spaces
6
Interior
Basement
Separate Entrance · Finished
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Bungalow
Property class
Detached
48 Sixteenth St Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® W13682280$1,499,999
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 48 Sixteenth St Compares to the Toronto Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
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Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$7,369
/mo
based on the purchase price of $1,499,999
$300,000 cash
$1,199,999 financed
$1,010,714 total interest
Principal54%$1,199,999
Interest46%$1,010,714
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Toronto
Other 3–4 bed homes for sale in Toronto around $1.5M.
Average days on market31Homes sold in about 31 days on average.
Sale-to-list ratio4899.6%On average, homes sold at or above asking.
Active listings12,406Homes for sale here right now.
Median vs prior 90 days+2.8%Compared with Apr 16 – Jul 15, 2026: prices up.
Based on 9,686 sales from Jul 15 – Oct 13, 2026 (6,629 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
48 Sixteenth St is listed at $1,499,999 (MLS® W13682280). Summitly updates the price as soon as the MLS® record changes.
Is $1,499,999 a good price for 48 Sixteenth St?
Summitly rates it Well Above Market: the asking price is 15% or more above Zara's estimate, an estimate built from recent sales in Toronto. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 48 Sixteenth St changed?
No — 48 Sixteenth St is still listed at its original asking price of $1,499,999.
How many bedrooms and bathrooms does 48 Sixteenth St have?
48 Sixteenth St has 2 bedrooms and 2 bathrooms, with about 700–1,100 square feet of living space. It is a detached home in Toronto.
Is 48 Sixteenth St close to transit?
The nearest rapid-transit station is Mimico GO Station (Lakeshore West GO), about 2.4 km in a straight line. Long Branch GO Station is about 2.5 km, and Kipling Station is about 4.3 km. Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 48 Sixteenth St?
About $7,369 a month — principal and interest on $1,499,999 with 20% down ($300,000), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 48 Sixteenth St compare with other homes in Toronto?
Its asking price of $1,499,999 is about 77% above the median sold price in Toronto over the last 90 days, $848,250, across 9,686 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 48 Sixteenth St been sold before?
Summitly has no earlier MLS® sale or lease of 48 Sixteenth St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 48 Sixteenth St?
48 Sixteenth St is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 48 Sixteenth St been on the market?
57 days — 48 Sixteenth St was listed on August 17, 2026.
What is the price per square foot of 48 Sixteenth St?
About $1,364 to $2,143 per square foot: the asking price of $1,499,999 over the 700–1,100 sq ft the listing gives as its size range.
