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Toronto residence Listed For Nearly $3.4 Million
Table of Contents
- 1. Toronto residence Listed For Nearly $3.4 Million
- 2. Property Details: A Closer Look
- 3. Key Property Specifications
- 4. Understanding the Toronto Real Estate market
- 5. Frequently asked Questions about Toronto real Estate
- 6. What are the potential benefits of exploring mixed-use advancement options for Cosmic Drive 58?
- 7. Cosmic Drive 58 in Toronto: Prime Real Estate Opportunity
- 8. Location & Accessibility – The Heart of North York
- 9. Zoning & Development Potential – Unlocking Value
- 10. Current Zoning Breakdown
- 11. Investment Highlights – Why Choose Cosmic Drive 58?
- 12. Market Analysis – Understanding the Landscape
- 13. Key Market Indicators (as of Q3 2025)
- 14. Due Diligence Checklist – Protecting Your Investment
- 15. Case Study: Successful Redevelopment in North York
- 16. Practical Tips for Investors
- 17. Financing Options – Securing Capital
Toronto, ON – A considerable single-family home located at 58 Cosmic Dr has just appeared on the market with an asking price of $3,399,000. The property,as listed on Zillow,boasts an impressive array of features,catering to a luxury lifestyle within the vibrant city.
Property Details: A Closer Look
The residence offers Four bedrooms and Five bathrooms,providing ample space for a growing family or those who frequently entertain guests. While the exact square footage is not currently specified, the listing highlights 45 high-quality photographs showcasing the home’s interiors and exteriors. The listing’s MLS number is C12373666.
This listing emerges amidst a dynamic Toronto real estate landscape. Data from the Toronto Regional Real Estate Board (TREB) indicates that the average home price in the Greater Toronto Area (GTA) reached $1,108,000 in July 2024, reflecting a year-over-year increase of 3.2%. TREB July 2024 Market Update
Key Property Specifications
| Feature | Detail |
|---|---|
| Address | 58 Cosmic Dr, Toronto, ON M3B 3G2 |
| Asking Price | $3,399,000 |
| Bedrooms | 4 |
| Bathrooms | 5 |
| MLS Number | C12373666 |
Did You Know? The demand for luxury properties in Toronto has been steadily increasing over the past five years, driven by economic growth and a growing population.
Pro Tip: When considering a meaningful real estate investment, it’s crucial to engage a qualified real estate lawyer and home inspector.
The listing on Zillow provides a detailed visual tour of the property, offering potential buyers a complete understanding of the home’s layout and features. Prospective purchasers are encouraged to schedule a viewing to fully appreciate the offering.
Do you think the Toronto housing market will continue its upward trend? What factors will influence home prices in the coming months?
Understanding the Toronto Real Estate market
The Toronto real estate market is known for its competitive nature and diverse housing options. Factors influencing market trends include interest rates, economic conditions, population growth, and government policies. It’s essential for both buyers and sellers to stay informed about current market dynamics to make informed decisions.
looking ahead, experts predict that the Greater Toronto Area will continue to experience moderate growth, though affordability remains a key concern. Enduring urban growth and increased housing supply are crucial for ensuring a balanced and accessible housing market for all residents.
Frequently asked Questions about Toronto real Estate
- What is the average home price in Toronto? The average home price in the GTA was $1,108,000 in July 2024.
- What factors affect Toronto home prices? Interest rates, economic growth, and population trends all play a role.
- is now a good time to buy a home in Toronto? This depends on your individual financial situation and market analysis.
- Where can I find more information about the Toronto real estate market? Check the Toronto Regional Real Estate Board (TREB) website.
- What is an MLS number? It’s a unique identifier for properties listed on the Multiple Listing Service.
Share your thoughts on this listing and the Toronto real estate market in the comments below!
What are the potential benefits of exploring mixed-use advancement options for Cosmic Drive 58?
Cosmic Drive 58 in Toronto: Prime Real Estate Opportunity
Location & Accessibility – The Heart of North York
Cosmic Drive 58, situated in the vibrant North York district of Toronto, presents a compelling real estate investment opportunity. Its strategic location offers unparalleled access to major transportation routes, including Highway 401 and Don Valley Parkway, making commuting a breeze for residents and employees alike. Proximity to public transit – specifically the Finch Subway Station and numerous bus lines – further enhances its accessibility. This is a key advantage for attracting tenants and maximizing property value in Toronto’s competitive market.
Highway Access: Direct access to Highway 401 and DVP.
Public Transit: Minutes from Finch Subway Station (Line 1).
Walk Score: Typically scores high for walkability, with nearby amenities.
Zoning & Development Potential – Unlocking Value
The zoning regulations for Cosmic Drive 58 currently permit a range of development possibilities. While primarily designated for commercial use, exploring potential for mixed-use development – incorporating residential units above commercial spaces – coudl considerably increase ROI (Return on Investment).A thorough zoning review with the City of Toronto is crucial to understand allowable building heights, density restrictions, and parking requirements. Understanding these regulations is paramount for maximizing the development potential of the land.
Current Zoning Breakdown
permitted Uses: Office, retail, service commercial.
Potential for Rezoning: explore options for mixed-use development.
Height Restrictions: Varies based on specific parcel; detailed survey required.
Investment Highlights – Why Choose Cosmic Drive 58?
Several factors contribute to the attractiveness of Cosmic Drive 58 as a Toronto real estate investment:
- Strong Economic Growth: North York is experiencing consistent economic growth, driven by a diverse range of industries.
- High Demand for Commercial Space: Limited availability of prime commercial space in the area fuels demand and rental rates.
- Proximity to Amenities: Close to shopping centers (Yorkdale Shopping Center),restaurants,and recreational facilities.
- Future Development Plans: Ongoing infrastructure projects in North York are expected to further enhance the area’s appeal.
- Thankfulness Potential: Toronto’s real estate market has historically demonstrated strong appreciation, making this a long-term investment opportunity.
Market Analysis – Understanding the Landscape
The commercial real estate market in North York is currently competitive, with average lease rates for office space ranging from $25 to $40 per square foot, depending on building class and location. Retail space commands similar rates, with premium locations near Yorkdale fetching higher prices. Analyzing comparable sales in the immediate vicinity of cosmic Drive 58 is essential for determining a fair market value. Recent transactions indicate a growing trend towards smaller, flexible office spaces catering to startups and remote workforces. This trend presents an opportunity to adapt the property to meet evolving tenant needs.
Key Market Indicators (as of Q3 2025)
Office Lease Rates: $25 – $40/sq ft
Retail Lease Rates: $28 – $45/sq ft
Vacancy Rates: Approximately 5-7% in North York.
Cap Rates: 5.5% – 7.0% (depending on property condition and lease terms).
Due Diligence Checklist – Protecting Your Investment
Before proceeding with any investment, thorough due diligence is critical. This includes:
Phase I Environmental Site Assessment: To identify any potential environmental concerns.
Property Survey: To confirm property boundaries and identify any encroachments.
Title Search: To verify ownership and identify any liens or encumbrances.
Zoning Compliance Review: To ensure the proposed development aligns with city regulations.
Structural Inspection: To assess the condition of the existing building (if applicable).
Financial Projections: Detailed analysis of potential income, expenses, and ROI.
Case Study: Successful Redevelopment in North York
The redevelopment of the former Celestica building on yonge Street, now a mixed-use complex featuring office space, retail, and residential units, serves as a compelling example of successful urban intensification in North York. This project demonstrates the potential to unlock notable value by adapting existing properties to meet changing market demands. The project benefited from its proximity to Finch Subway Station and a focus on creating a vibrant, pedestrian-friendly environment.
Practical Tips for Investors
engage a Local Real Estate Lawyer: Essential for navigating Toronto’s complex real estate laws.
Work with an Experienced Commercial Realtor: A specialist in North york commercial properties can provide valuable market insights.
Secure Financing Pre-Approval: Streamlines the purchase process and demonstrates financial readiness.
Consider Property Management Services: Professional property management can maximize rental income and minimize operating expenses.
Stay Informed About City Planning Initiatives: Upcoming infrastructure projects and zoning changes can impact property values.
Financing Options – Securing Capital
Several financing options are available for acquiring property on Cosmic Drive 58:
Customary bank Loans: Typically require a significant down payment and strong credit history.
Commercial Mortgages: Offered by specialized lenders with flexible terms.
Private Lending: Can provide faster funding but often at
