Welcome to this remarkable land located in the coveted neighborhood of Malvern. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $1 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
The Property is strategically located along the Sheppard Avenue corridor in Scarborough, benefiting from a highly accessible location within one of Toronto's largest employment, education, and commercial nodes. The Property benefits from existing approvals for a mixed-use development comprising two residential towers containing 309 residential units and approximately 280,324 square feet of GFA, while historical planning work has also contemplated townhouse and mid-rise built forms, illustrating the flexibility of the Site and its potential to accommodate a range of residential and ancillary development formats, subject to municipal review and approval. The surrounding area continues to experience significant residential investment and intensification, with a pipeline of proposed developments representing more than 11,000 residential units and 10.5 million square feet of GFA. Complementing these development fundamentals, the Property benefits from proximity to Scarborough Town Centre, Centennial College's Progress Campus, the University of Toronto Scarborough, Highway 401, and the future Scarborough Subway Extension, which will introduce new stations at Scarborough Town Centre and Sheppard Avenue East and McCowan Road. PART OF BLOCK 2, PLAN 66M2300, DESIGNATED AS PARTS 2, 5 AND 6, PLAN 66R29675, SCARBOROUGH; SUBJECT TO AN EASEMENT OVER PARTS 2, 5 AND 6, PLAN 66R29675 IN FAVOUR OF ROGERS COMMUNICATIONS INC. AS IN AT3494813; SUBJECT TO AN EASEMENT IN GROSS OVER PARTS 5 AND 6, PLAN 66R29675 AS IN AT4765443; TOGETHER WITH AN EASEMENT OVER PART 4 ON PLAN 66R29675 AS IN AT4768814; TOGETHER WITH AN EASEMENT OVER PART 3 ON PLAN 66R29675 AS IN AT4768814; TOGETHER WITH AN EASEMENT OVER COMMON ELEMENTS IN TORONTO STANDARD CONDOMINIUM PLAN NO. 2632 AS IN AT4768814; TOGETHER WITH AN EASEMENT OVER COMMON ELEMENTS ON LEVEL 1 & A IN TORONTO STANDARD CONDOMINIUM PLAN NO. 2632 AS IN AT4768814; SUBJECT TO AN EASEMENT AS IN E66209; CITY OF TORONTO
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No historical data available for this property.
This could be the first listing for this address.
Data-driven valuation for 1088 Progress Avenue, Toronto, ON M1B 2W1
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
Calculate your monthly payment, minimum downpayment, and land transfer taxes for this home in Toronto.
About Purchasing a Home in Toronto, ON
For a property listed at $1 in Toronto, the legal minimum down payment is $0 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $0 for this transaction. Since the property is located in Toronto, a municipal land transfer tax of $0 also applies, bringing the total estimated land transfer taxes to $0.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.