Charming Toronto Lakefront Multiplex Lists for Under $3 Million

Over Here Toronto
· · · ·

In a real estate landscape dominated by towering glass condos, a rare and captivating opportunity has emerged on the shores of Lake Ontario. Nestled in the residential enclave of Etobicoke, a character-rich building at 135 Lake Shore Dr. is turning heads—not only for its lakefront location, but also for its surprising price tag under $3 million. This Toronto lakefront multiplex stands apart as a distinctive listing in the city’s property market.

Hidden Gem: A Multiplex with Private Toronto Lakefront Access

Lakefront Living with Vintage Character

Photo by JMac Photography

Unlike the high-rise condos that line most parts of Toronto’s waterfront, this property brings a refreshing twist: a purpose-built multiplex with direct frontage on pristine Lake Ontario waters. Moreover, sitting on 25 feet of private shoreline and boasting nearly 4,000 square feet of space, the building is made up of five units—each designed to balance comfort with scenic views.

  • Location: 135 Lake Shore Dr., Etobicoke, Toronto
  • Lot Frontage: 25 feet on Lake Ontario
  • Total Living Space: Approximately 4,000 sq ft
  • Asking Price: $2,695,000 (recent price drop from $2.975 million)

Smartly Designed for Multiple Uses

The building features a thoughtful mix of unit layouts: two two-bedroom apartments face the tranquil street, while three one-bedroom-plus-den units line the lake-facing rear. Additionally, each of those coveted lake-facing spaces features a private balcony or terrace—an ideal spot for sunrise coffees or sunset cocktails. Presently, with all units rented, this is already a functioning investment property with stable rental income.

  • Unit Types: Two 2-bed units, three 1+den units
  • Lake views: All rear units feature balcony or terrace access
  • Occupancy: Fully tenanted as of now

Modern Upgrades Meet Timeless Appeal

Although the interior aesthetic leans toward the more dated side, the property has been well maintained over the years. Recent updates have reinforced its value, giving future owners a strong foundation for potential renovations or modernizations. These enhancements include a new roof (2019), upgraded windows, modernized electrical systems, and an EV charger in the two-car garage. Furthermore, the waterfront patio has recently received a stylish refresh.

  • Recent Improvements: Roof (2019), new windows, EV charger, upgraded electrical, fire safety features
  • Additional Features: Two-car garage, lockers, newly renovated waterfront patio

Renovation Potential for a Dream Lakehouse

Though the building is currently used solely as an income property, it has the potential to become much more. For instance, with imagination and investment—and in compliance with Toronto’s new Rental Renovation Licence Bylaw—a future buyer could transform this charming multiplex into a luxurious private lakehouse, boutique rental residence, or multigenerational home truly unlike any other.

Advertisement

Considering its location, private lake access, and multi-unit setup, properties like this seldom appear on the market in Toronto. Therefore, with its new reduced price, this could easily be one of the most unique opportunities of the year. Altogether, it’s an offering that caters to both investors and homeowners alike.

Whether you’re an investor looking for a premium waterfront asset or a dreamer envisioning chic lakeside living, this Toronto lakefront multiplex offers a rare blend of potential, location, and charm.

More…

Advertisement

Over Here Toronto

Over Here Toronto shares the latest eats, events, and hot spots across the city and GTA — so you’re always in the loop on where to go and what’s happening.

Read More..

Leave a Reply

Your email address will not be published. Required fields are marked *