MLS® listing
1494 Islington Avenue: detached house for sale
$2,900,000
From the listing brokerage
RARE LIVE/WORK OPPORTUNITY IN THE HEART OF PRINCESS ROSETHORN / EDENBRIDGE HUMBER VALLEY NEIGHBOURHOODS! Welcome to 1494 Islington Avenue - an exceptionally unique property offering over 4,000 sqft of residential living space PLUS approximately 1,900 sqft of commercial space, creating an incredible opportunity to live, work and invest all in one location. Ideally positioned directly across from Thorncrest Plaza at Islington Avenue & Rathburn Road, this property offers outstanding visibility, convenience and flexibility in one of Etobicoke's most desirable areas. The spacious 6 bedroom, 4 bathroom residence offers an abundance of room for growing families, multi-generational living or those looking for generous work-from-home space. The home features a beautifully updated chef's kitchen, multiple inviting living and entertaining areas, generous bedrooms and plenty of natural light throughout. A private yard and garage/workspace provide even more functionality for everyday family living. The lower-level commercial space, separately addressed as 1 Rathburn Road, offers approximately 1,900 sqft of bright, versatile space with large windows and a professional front entrance. Well suited for a variety of permitted uses including professional offices, medical or wellness practitioners, accountants, lawyers, real estate professionals, educators, contractors and more. With parking for 6 cars, excellent exposure and a prime location surrounded by established residential neighbourhoods, shopping, restaurants, transit and major roadways, this is a truly rare opportunity to combine home and business under one roof. A property with this size, flexibility and location rarely comes available - perfect for an owner-occupier, professional or investor looking for something truly distinctive.
Facts on the listing
| Square feet | 3500-5000 |
|---|---|
| Style | 2-Storey |
| Basement | Finished with Walk-Out, Separate Entrance |
| Lot width | 55 |
| Lot depth | 120 |
| Lot measured in | Feet |
| Faces | West |
| Parking spaces | 6 |
| Garage | Detached |
| Heating | Forced Air |
| Cooling | Central Air |
| Kitchens | 1 |
| Property tax | $7,059 |
| Tax year | 2026 |
| Parking | Private |
| Interior features | Other |
Listing courtesy of ROYAL LEPAGE REAL ESTATE SERVICES LTD.. MLS® W13771930.
About this detached house
1494 Islington Avenue is a 6 bedroom detached house in TRREB's Princess-Rosethorn community in Toronto, listed for sale at $2,900,000. The listing shows 5 bathrooms and 3500-5000 square feet. The style is given as 2-storey. The lot is listed as 55 by 120 feet. The listing gives the basement as finished with walk-out, separate entrance. It comes with 6 parking spaces and a detached garage according to the listing. The nearest main intersection given is Rathburn & Islington.
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 1494 Islington Avenue
At the asking price of $2,900,000, 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 | $2,900,000 |
|---|---|
| Ontario land transfer tax | $58,975 |
| Toronto municipal land transfer tax | $58,975 |
| Both taxes | $117,950 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $580,000 |
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) | $7,059 a year, about $588 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.
How the asking price compares
TRREB recorded 550 detached house sales in the City of Toronto in August 2026, at a median price of $1,170,000 and an average of $1,525,749. This home is listed at $2,900,000, which is $1,730,000 above that median.
The median covers every neighbourhood, size and condition in the City of Toronto, so it is a reference point and not a valuation of this home. Location, size, lot, parking and condition all move the price. Our Toronto house prices page has the figures for every home type.
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, 55 by 120 feet.
- Ask about permits. Ask which renovations had building permits and whether those permits were closed.
- 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 1494 Islington Avenue
How much is land transfer tax on 1494 Islington Avenue?
At the asking price of $2,900,000 the Ontario tax is $58,975 and the Toronto tax is $58,975, $117,950 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 1494 Islington Avenue?
$580,000 at the asking price of $2,900,000, under the federal minimum down payment rules. A lender may require more.
How much is the property tax on 1494 Islington Avenue?
The listing shows $7,059 a year for 2026, about $588 a month.
Is 1494 Islington Avenue priced above or below the median?
It is listed at $2,900,000. The August 2026 median for detached house sales in the City of Toronto was $1,170,000 across 550 sales, so the asking price is $1,730,000 higher. The median covers all sizes and neighbourhoods.
How do I book a showing for 1494 Islington Avenue?
Use the form on this page or call us. Quote MLS® W13771930. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 1494 Islington Avenue 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.
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