Retail Space is Tenanted see details below and Freehold Townhouse is Owner Occupied - OFFICIAL PLAN DESIGNATED - MIXED USE (INCLUDING RESIDENTIAL) Extremely Unique Luxury Live-Work Freehold Townhome has a separate 725 Sq Ft Commercial Unit on the back side of the building facing Lagoon Street. This residential townhouse is located on Rapids Lane while the Townhouse is 2,439 Sq ft on Rapids Lane and 1-3 pc bathroom - 2 sinks and 1 toilet. This location is amazing with a big box store Strip Mall across the road; McDonald's, Shoppers Drug Mart, Dollarama and other fine stores. This high traffic space for the this commercial space is super convenient and an excellent investment with PASSIVE INCOME $47,460 per year, the commercial tenant pays a $3,500 monthly fee plus hydro. Note: Designated parking spaces available onsite. The gorgeous Freehold Townhome features a spacious Living room, w/o balcony and Dining room. Kitchen offers upgraded cabinets, centre island, backsplash, trim and stainless steel fridge, stove, B/I microwave, B/I dishwasher plus upgraded pot-lights, tile, quality laminate flooring plus a gorgeous staircase with glass inserts > 3 Bedrooms; the 2nd level primary bedroom w/3 pc ensuite, shower and walk out to private balcony. The 2nd bedroom has a a 4pc ensuite bath. 4 Bathrooms in total. Lakeview is an area known for its amenities and easy commute to Toronto with the Go Transit system available either in Etobicoke or at the Port Credit Go Station at Hurontario and Lakeshore. The location is known for excellent schools, shopping, parks, recreation and convenient transportation. Note: the Rooftop terrace has a gas barbecue hookup and the built-in garage and single driveway provides 2 parking spaces for the Townhome.
Address
588 Rapids Lane
List Price
$1,599,000
MLS® Status
New
Expiration Date
2026-04-30
Property Type
Commercial
Type of Dwelling
Commercial Retail
Transaction Type
Sale
Area
Mississauga
Sub-Area
Lakeview
Region
Peel
Lot Size Source
GeoWarehouse
Lot Depth
60
Lot Shape
Irregular
Lot Type
Unit
Lot Irregularities
22.74 X 74.81 X 64.86 FT
Lot Size Units
Feet
Lot Width
22
Parcel Number
134730340
Total Building Area
3164
Occupant Type
Owner+Tenant
Cross Street
Lakeshore Rd. & Cawthra Rd.
Approx. Age
0 - 5 Years
MLS® Number
W12705658
Listing Brokerage
RE/MAX REALTY ENTERPRISES INC.
Basement
No
Postal Code
L5G 0A9
Posession Details
FLEXIBLE
Tax Amount
$10,141.45
Tax Year
2025
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heat Type
Gas Forced Air Open
Cooling Features
Yes
Garage Type
None
Tax Legal Description
Pt Blk 21 Pl 43M2003 Pts 130,230,311 & 255
Security Features
No
Sewer
Sanitary
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