Salehian.com 647-325-5000

50 Waniska Avenue

Stonegate-Queensway, Toronto, M8Y 1P9

$2,999,900

Reduced $390,100 from $3,390,000

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  • 14 bedrooms
  • 6 bathrooms
  • 12 parking
  • 5000 + sq ft

Listed 81 days ago · MLS® W13624576

About this home

Truly outstanding investment opportunity in Toronto's highly desirable Humber Bay-Stonegate-Queensway neighbourhood. Purpose built Apartment Building in one of Etobicoke's premier rental locations, offering strong Tenant demand, outstanding long-term appreciation potential & immediate income optimization. This is a rare opportunity to acquire fully Vacant Building with flexibility to establish market rents from day one. Based on projected market rents, property offers the potential to generate an estimated Net Annual Income of approx. $196,000 representing an attractive projected Cap Rate of 6.1%. This well-maintained Building features two 3-Bdrm & four 2-Bdrm Apartments, several have been updated, bright & spacious front & rear common hallways, laundry rm, mechanical rm, 5 storage lockers, 6 garage parking spaces & 6 surface parking spaces. Each Apartment offers spacious, bright, sunny rooms with practical well designed layouts, featuring front Foyer with double guest closet & linen closet, family-sized Kitchen with Breakfast Area, large Living Rm, separate Dining Rm, updated 4-pc Bathroom with towel warmer, generously sized Bedrooms, some with 2 double closets & oversized windows. Ideally situated on a peaceful, tree-lined residential street just north of The Queensway corridor, offering immediate access to wide array of grocery stores, cafés, restaurants & everyday amenities. The neighbourhood is served by highly regarded schools & within walking distance of public library, parks & several early childhood daycare centres. Residents appreciate close proximity to Humber River Trail System, Humber Bay Park & the shores of Lake Ontario. Excellent transportation options include nearby Humber Loop, providing streetcar service between South Etobicoke & downtown Toronto, TTC bus routes connecting to nearby subway stations, Mimico GO Station at Royal York Rd & quick access to Gardiner Expressway, Highway 427 & QEW offering seamless connectivity throughout Toronto & GTA.

Details

Type
Multiplex
Style
3-Storey
Size
5000 + sq ft
Lot
90 × 135.25 ft
Basement
Apartment, Separate Entrance
Garage
Built-In
Kitchens
6
Property tax
$13,512 (2026)
Neighbourhood
Stonegate-Queensway
Municipality
Toronto W07

Interior

Bedrooms
14 above ground
Bathrooms
2 × 4-piece (ground), 2 × 4-piece (main), 2 × 4-piece (second)
Rooms
33 above ground + 1 below
Family room or den
No
Fireplace
No

Heating, cooling and services

Heating
Water, Gas
Air conditioning
Wall Unit(s)
Water and sewer
Sewer

Building and exterior

Style
3-Storey
Exterior
Brick
Roof
Membrane
Foundation
Concrete Block
Faces
North

Parking

Garage spaces
6
Total parking
12
Driveway and parking
Private

Lot

Size
90 × 135.25 ft

More

Possession
30/60/TBA
Nearby
Lake/Pond, Park, Public Transit, Rec./Commun.Centre, River/Stream, School
Cross street
The Queensway/Park Lawn Rd

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Walkable

  • 🚇 Jane Subway1.9 km
  • 🚇 Old Mill Subway1.9 km
  • 🚆 Mimico GO2.0 km

Within a 10-minute walk: 1 grocery store, 9 cafés and restaurants, 8 parks, 5 pharmacies. Nearest grocery: Sobeys (650 m). Nearest park: Kinsdale Park (300 m).

Schools nearby

Elementary

  • St. Mark Catholic School Catholic
    EQAO: Gr 6 reading 74%, math 47%    4 min walk
  • Étienne Brûlé Junior School
    EQAO: Gr 3 reading 87%, math 77%    5 min walk
  • Park Lawn Junior and Middle School
    EQAO: Gr 6 reading 99%, math 62%    14 min walk
  • St. Louis Catholic School Catholic
    EQAO: Gr 6 reading 100%, math 43%    1.3 km

Secondary

  • Karen Kain School of the Arts16 min walk
  • Etobicoke School of the Arts
    EQAO: Gr 9 math 68%, literacy test 92%    1.3 km
  • Bishop Allen Academy Catholic Secondary School Catholic · Private
    EQAO: Gr 9 math 81%, literacy test 94%    1.4 km

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area M8Y

Owners / renters
56% / 44%
Median household income
$91,000
Average age
41
Children under 15
15%
Homes
34% detached, 29% high-rise
Commute by transit
19%
Population
21,986

Languages spoken most at home besides English: Ukrainian 2.8%, Polish 2.5%, Russian 2.2%, Spanish 1.5%.

Flood and conservation No mapped hazard

Not inside a mapped flood plain or regulated area.

Screening maps only. Ask the conservation authority for a property inquiry before relying on this.

Safety

Major crime per resident in Stonegate-Queensway (2025): 25% below the Toronto average, down 13% from the year before.

  • Assault39% below average
  • Break and enterabout average
  • Auto theftabout average
  • Robbery48% below average
  • Theft from vehicles39% below average
  • Shootings67% above average

Crime Severity Index for Toronto police: 60 vs 57 for Ontario (2025).

Police-reported figures for the whole neighbourhood, not this street. Rates use the area’s resident population.

Development nearby 1 active

  • 247 PARK LAWN RD · 350 m
    Site Plan · Under Review · applied 2021
    Proposed rear addition to an exisiting place of worship.
    Application details
  • 140 THE QUEENSWAY · 400 m
    Site Plan · Closed · applied 2023
    The proposal consists of one 6-storey apartment building. The ground floor is designed to meet tenant and building needs and will consist of both indoor and…
    Application details

Rezoning, site plan, subdivision and condominium applications filed with the city.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Neighbourhood crime: Toronto Police Service Public Safety Data Portal (Open Government Licence – Toronto Police Service). Crime Severity Index: Statistics Canada. Planning applications: City of Toronto open data.

Living here

Commute

To Union Station (downtown Toronto): 9 km. Transit times · Driving times

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

What can be built RM

Residential Multiple Dwelling (with a site-specific exception).

  • ✅ Up to 4 homes on the lot (multiplex)
  • ✅ Garden suite in the backyard
  • ✅ Laneway suite, if the lot backs onto a lane

From Toronto’s Zoning By-law 569-2013 map. Lot size, setbacks and trees decide what actually fits; check with a planner before you buy.

Full lot check · Run the numbers

Building permits

No building permits at this address since 2014.

1 permit on this block of the street in the last 2 years.

Permits filed with the City of Toronto. A permit doesn’t mean the work passed final inspection.

Trees

80 City street trees within 100 m, mostly maples. That’s more than the Toronto average of 42.

Trees on City boulevards only, not private yards or parks.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Short-term rentals

Only in your principal residence (where you live). The entire home can be rented up to 180 nights a year; renting up to 3 bedrooms while you live there has no limit. Hosts register with the City and collect the 6% accommodation tax.

City rules

Zoning, heritage, building permits and street trees: City of Toronto open data (Open Government Licence – Toronto). Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by RE/MAX PROFESSIONALS INC..

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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