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Stonegate-Queensway · Toronto

$3,390,000

The scan

The play: Turnkey income

Purpose built Apartment Building with two 3-Bdrm and four 2-Bdrm apartments; projects $196K net annual income at 6.1% cap rate.

Tenanted and legal from day one, so the upside sits in the rent roll instead of the shovel.

  • Lot 27.4 m x 41.2 m (90'-0" x 135'-3")
  • Multiplex
TESA ScanZoning

The by-law's answer for this lot

We resolved this parcel's zoning, the site-specific exceptions registered against it, and the building forms the by-law permits without a rezoning. Every number below traces to by-law text we hold on file, and we re-check it against the City's register nightly.

Zone

RM (x21)

Site exception

Exception 21, with parts of it still to confirm

As-of-right form

Low-rise apartment, 35 unitsAs-of-right (building permit)

As-of-right envelope

2,495 m² (26,856 ft²)Envelope from the zone's floor space index.

Severance

The by-law supports a split hereA split would leave roughly 13.7 m (45'-0") of frontage per lot.

Still to verify on this parcel

None of these can be settled from records alone. Any one of them changes what this lot can hold.

  • The front yard setback is averaged against the neighbouring houses, so it depends on buildings that have to be measured on site
  • Which lot coverage rule governs here, which sets how much of the lot the buildings can sit on
  • Lot dimensions and area against a current survey, not the listing sheet
  • Easements, rights of way and restrictive covenants registered on title
  • The existing building measured on site: real footprint, height and grade

And more, depending on what the site turns up.

Have TESA check this lot properly

Zoning scan 2026-08-28

TESA ScanBuildability

A quick pass over the mapped layers, kept here for comparison. Where it disagrees with the zoning answer above, go with the zoning answer.

What you are buying, and what is left unused

The building is the asset here, so the numbers lead with what it costs per existing foot and per unit. The as-of-right envelope follows as unused permission: where it runs well ahead of what is standing, there is room to add without buying more land.

Lot area

1,131 m² (12,172 ft²)Calculated from the listed frontage and depth.

Existing floor area

5,000+ ft²

Permitted envelope

Not available for this lot

Zone

RM

No lot-coverage limit is mapped on this parcel, so nothing caps the footprint and there is no envelope to quote. A TESA scan takes the coverage rule from the by-law directly.

The rest of this listing

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  • The complete facts grid
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  • The virtual tour
  • The location map

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Listing courtesy of RE/MAX PROFESSIONALS INC..

This information is provided by the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate by PropTx.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.

Listing updated Aug 21, 2026, 3:01 PM ET · Source: Toronto Regional Real Estate Board