Looking for the cheapest house for sale in Toronto? While Toronto is known for its sky-high real estate prices, budget-conscious buyers can still find great deals in emerging neighbourhoods, older properties, or homes with renovation potential. Whether you’re a first-time buyer or investor, affordable housing opportunities do exist, if you know where to look.

131 Jersey Avenue
Palmerston-Little Italy Toronto M6G 3A5

$699,000
Residential Freehold beds: 0 baths: 0.0

Main Photo: 131 Jersey Avenue in Toronto: Palmerston-Little Italy House for sale (Toronto C01) : MLS®# C12972672

Photo 1: 131 Jersey Avenue in Toronto: Palmerston-Little Italy House for sale (Toronto C01) : MLS®# C12972672

Photo 2: 131 Jersey Avenue in Toronto: Palmerston-Little Italy House for sale (Toronto C01) : MLS®# C12972672

Photo 3: 131 Jersey Avenue in Toronto: Palmerston-Little Italy House for sale (Toronto C01) : MLS®# C12972672

Status:: Active Under Contract

Prop. Type:: Residential Freehold

MLS® Num:: C12972672

A truly rare opportunity in the heart of Toronto's sought-after Palmerston-Little Italy neighbourhood. Offered as a package, 129, 131 & 133 Jersey Avenue present three premium residential lots, perfectly positioned and primed for redevelopment.This is an ideal opportunity for builders, investors, or end-users looking to create something special. The properties are well-suited for a townhouse development, with existing plans already prepared by the seller. Buyers will have the opportunity to take over and proceed with their own building permit application, allowing flexibility to bring their vision to life.Located on a quiet residential street with rear laneway access, the potential here is exceptional-whether you're looking to build custom homes, explore income-generating opportunities, or design your dream residence in the city.Surrounded by some of Toronto's most vibrant amenities-just steps to Little Italy, Christie Pits Park, Bickford Park, transit, restaurants, cafés, and boutique shops-this location continues to see strong demand and long-term growth.Opportunities like this are increasingly rare in the Toronto core. All three lots must be purchased together.

General Info:

Property Type:: Residential Freehold

Property Sub Type:: Vacant Land

Lot Size:: Not Applicable

Lot Depth:: 103'8⅞"31.6 m

Lot Frontage:: 15'5"4.69 m

Direction Faces:: East

Bedrooms:: 0

Bathrooms:: 0.0

Kitchens:: 0

Additional Info:

Possession Details:: TBD

Financial Info:

HST Applicable To Sale Price:: In Addition To

Taxes:: $12,477.93 / 2025

Assessment:: $- / -

County:

Toronto

Listing Area:

Toronto C01

Listing Sub-Area:

Palmerston-Little Italy

Waterfront:

None

Other Details:

Utilities Cable:: No

Utilities Telephone:: No

Utilities Gas:: No

Utilities Hydro:: No

Utilities Water:: No

Sewers:: No

Special Designation:: Unknown

Central Vacuum:: No

Seller Property Info Statement:: No

Listing Info:

Date Listed:: Apr 08, 2026

Original Price:: Signup

Previous Price:: Signup

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Listed by RE/MAX REALTRON REALTY INC.

Data was last updated May 2, 2026 at 06:15 AM (UTC)

DARYL KING
RE/MAX HALLMARK REALTY LIMITED
1 (905) 9075464
homes@darylking.com

Why Affordable Toronto Homes Are Worth Exploring

• Entry point into one of Canada’s hottest real estate markets
• Opportunity to renovate and build equity
• Perfect for investors seeking rental income
• Found in up-and-coming or transitioning neighbourhoods
• Lower property taxes and mortgage payments

What to Expect from the Cheapest Homes in Toronto

When browsing Toronto’s lowest-priced houses, you’ll often see:

• Bungalows, semi-detached, or older detached homes
• Smaller lot sizes or homes requiring updates
• Basic finishes or dated interiors
• Value-add potential with zoning flexibility or laneway options
• Proximity to transit, future developments, or outer boroughs

Neighbourhood Highlights Near Toronto’s Affordable Homes

Some of the cheapest houses in Toronto can be found in areas like Scarborough, Etobicoke, and parts of North York. These regions offer a mix of older inventory, multi-family zoning, and properties near GO transit or future development zones. While they may not boast luxury appeal upfront, they offer excellent long-term growth and accessibility.

Explore More GTA Homes:

Each link provides updated listings and expert insights.

FAQs – Cheapest House for Sale in Toronto

1. What is the lowest price for a house in Toronto right now?
As of this month, listings can start as low as $500,000, especially in areas needing renovation or further from the downtown core.

2. Are cheap houses in Toronto a good investment?
Yes, if you’re willing to renovate or rent. Properties under market value tend to appreciate faster when updated.

3. Can I get a mortgage for a fixer-upper home?
Absolutely. Some lenders offer renovation financing options for older or distressed homes.

4. What type of buyer usually targets low-priced homes?
First-time buyers, flippers, and long-term investors looking to add value are most common.

131 Jersey Avenue Palmerston-Little Italy Toronto M6G 3A5

$699,000 Residential Freehold beds: 0 baths: 0.0