MLS® listing
204 Sheppard Avenue W: triplex for sale
$2,588,000
From the listing brokerage
Rare opportunity to own a well-maintained, newer mixed-use building (built in 2004) in the highly sought-after Yonge & Sheppard corridor, just a short walk to the Yonge-Sheppard subway station and minutes from Highway 401. Zoned for both commercial and residential use, this versatile property offers exceptional flexibility for investors, owner-users, and future redevelopment opportunities. The building features three self-contained levels with separate entrances, each approximately 962 sq. ft. The main floor boasts 9-foot ceilings and pot lights throughout, while the second floor offers abundant natural light through a skylight. The lower level features 8-foot ceilings and eight large above-grade windows, creating a bright and functional space. Situated on a generous lot with 13 parking spaces, the property is ideal for a wide range of professional and commercial uses, including medical, legal, educational, and consulting offices, while also accommodating residential occupancy. Generate income from up to three separate units plus parking rentals, or occupy part of the building while leasing the remainder. Located in the heart of North York's rapidly evolving downtown core, the property is surrounded by numerous approved and proposed residential and commercial developments, with convenient access to two subway lines. Recent upgrades include a new gas furnace and central air conditioner (2025).An exceptional opportunity to invest, operate, or position yourself for future growth in one of Toronto's most dynamic urban centers.
Facts on the listing
| Square feet | 1500-2000 |
|---|---|
| Style | 2-Storey |
| Basement | Apartment, Separate Entrance |
| Lot width | 50 |
| Lot depth | 117.67 |
| Lot measured in | Feet |
| Faces | North |
| Parking spaces | 13 |
| Garage | None |
| Heating | Forced Air |
| Cooling | Central Air |
| Kitchens | 3 |
| Property tax | $10,696 |
| Tax year | 2026 |
| Interior features | Countertop Range |
Listing courtesy of ONE PERCENT REALTY LTD.. MLS® C13808146.
About this triplex
204 Sheppard Avenue W is a 7 bedroom triplex in TRREB's Lansing-Westgate community in Toronto, listed for sale at $2,588,000. The listing shows 3 bathrooms and 1500-2000 square feet. The style is given as 2-storey. The lot is listed as 50 by 117.67 feet. The listing gives the basement as apartment, separate entrance. It comes with 13 parking spaces according to the listing. The nearest main intersection given is Sheppard Ave / Senlac Rd.
These details come from the listing brokerage through TRREB's MLS® System. Room sizes, the lot, the taxes and what is included in the sale should all be confirmed before an offer is firm.
What it costs to buy 204 Sheppard Avenue W
At the asking price of $2,588,000, a buyer pays two land transfer taxes on closing: the Ontario tax and the City of Toronto's municipal tax. Both apply to every home inside the City.
| Asking price | $2,588,000 |
|---|---|
| Ontario land transfer tax | $51,175 |
| Toronto municipal land transfer tax | $51,175 |
| Both taxes | $102,350 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $517,600 |
The down payment figure is the federal minimum: 20 percent, because a home at $1.5 million or more cannot carry mortgage default insurance. A lender can ask for more. These figures use the asking price, so they change if you pay more or less. The rates above $2,000,000 used here are the ones for a home with one or two single family residences. A property with more units is taxed differently. Legal fees, title insurance and adjustments are extra: ask your lawyer for a written quote. This is general information, not legal or tax advice. Confirm the figures with a lawyer or accountant. You can change the price in our land transfer tax calculator and our mortgage calculator.
What it costs to own each month
| Property tax (2026) | $10,696 a year, about $891 a month |
|---|
That is before a mortgage payment, home insurance and utilities. The listing shows no monthly maintenance fee, so upkeep of the building and the lot is the owner's own cost.
What to check before you make an offer
- Book a home inspection. An inspector looks at the roof, foundation, wiring, plumbing and heating. The listing gives the heating as forced air.
- Have a lawyer search the title. A title search shows mortgages, liens and easements registered against the property. Ask whether a survey exists and whether it matches the lot on the listing, 50 by 117.67 feet.
- Ask about permits. Ask which renovations had building permits and whether those permits were closed. The listing shows 3 kitchens. If there is a second unit, ask whether it meets the municipality's rules for one.
- Confirm what is included. Appliances, light fixtures and window coverings are included only if the agreement says so. Ask whether the water heater or furnace is rented.
- Get your financing in writing. A lender looks at the property tax and heating costs as well as the price.
- See it in person. Photos do not show noise, light at different hours or the state of the street and the homes beside it.
Our first-time home buyer guide and our page for buyers walk through each step. This is general information, not legal advice. Confirm the details with a lawyer.
Toronto neighbourhoods and prices
Our neighbourhood guides set out TRREB prices by home type, transit and the housing in each area we cover.
Toronto neighbourhood guides · Toronto house prices · All Toronto homes for sale
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Questions about 204 Sheppard Avenue W
How much is land transfer tax on 204 Sheppard Avenue W?
At the asking price of $2,588,000 the Ontario tax is $51,175 and the Toronto tax is $51,175, $102,350 in total. A first-time buyer who qualifies can get up to $8,475 back. Confirm the final figures with your lawyer.
What is the minimum down payment for 204 Sheppard Avenue W?
$517,600 at the asking price of $2,588,000, under the federal minimum down payment rules. A lender may require more.
How much is the property tax on 204 Sheppard Avenue W?
The listing shows $10,696 a year for 2026, about $891 a month.
How do I book a showing for 204 Sheppard Avenue W?
Use the form on this page or call us. Quote MLS® C13808146. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 204 Sheppard Avenue W still for sale?
This page is refreshed from TRREB's MLS® System through the day. If the listing sells or is withdrawn the page says so. Contact us to confirm before you make plans.
The listing data is provided under copyright by the Toronto Regional Real Estate Board (TRREB). The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose. The data is deemed reliable but is not guaranteed accurate by TRREB or PropTx. Each listing shows the brokerage that listed it. Listings are updated every few minutes.
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