$999,116 - 116A Melrose Street, Liberty Village
Semi-Detached for Sale in Liberty Village
New — Listed todayNeighbourhood: Mimico
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- MLS Number
- W14109152
- Property Type
- Semi-Detached
- Status
- active
- Days on Site
- 0
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Liberty Village / Parkdale / South Parkdale
- Taxes (2026)
- $4,467
- Listing Brokerage
- ROYAL LEPAGE SIGNATURE REALTY
Welcome to 116A Melrose St in the heart of highly desirable Mimico! A wonderful canvas awaiting your personal style! This home offers a solid layout and great bones, ready for you to bring your own design ideas, updates, and custom finishes. Featuring 3+1 bedrooms, 3 bathrooms, and a partly finished basement with walk out, this property is packed with potential. The main levels offer 3 bedrooms and generous storage space throughout. The lower level features direct walk out access, along with a 4th bedroom and a full bathroom, ideal for a guest space, home office, or potential secondary suite. Unbeatable location on a quiet street just minutes from the Mimico GO Station, Lake Ontario waterfront trails, top rated schools, and quick highway access to Downtown Toronto. Property requires some updates and is priced accordingly. An extraordinary chance for renovators, investors, or end-users to build massive equity in South Etobicoke!
Estimate your monthly payments for this property
Estimated Payment
$5,125.98/mo
Includes CMHC insurance ($27,875)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Waterfront Revival
Mimico is a revitalised waterfront neighbourhood in south Etobicoke that has transformed from a quiet residential enclave into a dynamic lakeside community. New condominium developments along the lakeshore complement the area's established tree-lined streets and village character. The Mimico GO Station and TTC streetcar provide strong transit options, while the waterfront trail offers scenic recreation.
Why Live in Mimico
- •Lake Ontario waterfront access and trail
- •Revitalised village atmosphere with new development
- •Mimico GO Station for fast downtown commuting
- •Mix of new condominiums and character homes
- •Growing restaurant and retail scene
Nearby Schools
Transit & Commuting
- •Mimico GO Station on the Lakeshore West line
- •TTC 501 Queen streetcar
- •Lakeshore West GO line to Union Station
- •Easy access to Gardiner Expressway
Parks & Amenities
- •Humber Bay Park
- •Mimico waterfront trail
- •Amos Waites Park
- •Mimico Centennial Library
- •Local shops along Royal York Road
Lifestyle & Community
Mimico offers a rejuvenated waterfront lifestyle with strong transit connections and a growing dining scene. Residents enjoy lakeside walks, waterfront cycling, and easy commuting to downtown Toronto.
116A Melrose Street, Liberty Village / Parkdale / South Parkdale
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $666/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Just Listed - Act Strategically
This property hit the market within the last week. In Liberty Village's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.
Detached Home Advantages
Detached homes in Liberty Village are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
About Mimico
I know Mimico well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Liberty Village properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $4,163 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.