588 RAPIDS LANE, Mississauga
$1,488,000
Townhouse for Sale in Lakeview, Ontario
About This Property
Short on a down payment? (read below) Great live work, Potential to designate second commercial rental space just up the staircase. Mixed Use - this luxury townhome includes a separate 725 sq. ft. commercial unit plus a stunning 2,439 sq. ft. residence .The retail space is tenanted, generating $47,460/year in passive income ($3,500/month + hydro). High-traffic location directly across from major retailers including McDonald's, Shoppers Drug Mart, and Dollarama. On-site designated parking available. The owner-occupied townhome features a spacious living and dining area with walk-out balcony, upgraded kitchen with centre island, stainless steel appliances, pot lights, quality laminate flooring, and a striking glass-insert staircase. Offers 3 bedrooms, including a primary retreat with 3-pc ensuite and private balcony, plus a second bedroom with 4-pc ensuite. 4 bathrooms total. Enjoy a rooftop terrace with gas BBQ hookup, built-in garage, and private driveway (2 parking spaces).Easy access to Toronto via GO Transit, including the Port Credit GO Station. Close to top schools, shopping, parks, and everyday conveniences. An exceptional opportunity to own luxury living with built-in income. (Down Payment) - A family member can advance funds from their line of credit, and the main-floor rent can cover the repayment so they're not out of pocket. Monthly private fee is $152. (42215927)
Property Details
Features
Annual Property Tax
HighLocation
About Lakeview, Mississauga
Lakeview is a southeast Mississauga waterfront neighbourhood undergoing one of the most ambitious revitalization projects in the GTA: the Lakeview Village development on the former Ontario Power Generation site. This 177-acre mixed-use community will add thousands of residential units, commercial spaces, parks, and a waterfront promenade, fundamentally transforming the neighbourhood over the coming decade. The existing Lakeview community is a mix of older post-war homes and townhouses with a working-class heritage rooted in the area's industrial past. Current townhouse options range from affordable older freehold rows to new infill projects positioned to capitalize on the waterfront transformation. Lakeview's location along the Lake Ontario shoreline provides waterfront access that is increasingly rare in the GTA, and the neighbourhood's flat topography and grid street pattern give it a walkable, accessible layout. For buyers with a medium-term investment horizon, Lakeview represents one of the most compelling value opportunities in Mississauga, combining current affordability with the substantial upside potential of the Lakeview Village development and associated infrastructure improvements.
Transit
MiWay routes along Lakeshore Road and Dixie Road connect Lakeview to the broader transit network. The Long Branch GO station on the Lakeshore West line is accessible to the east, providing commuter rail service to Union Station. Bus connections to the Kipling and Islington subway stations provide additional TTC access. The planned Lakeview Village development includes provisions for enhanced transit service, potentially including a new transit hub. The QEW is accessible via Dixie Road, providing highway connections east and west. Cycling infrastructure along the Waterfront Trail connects Lakeview to Port Credit and points beyond.
Schools
Allan A. Martin Senior Public School and Lakeview Public School serve the neighbourhood's elementary students. Cawthra Park Secondary School, known for its Regional Arts Programme, is one of the most distinctive high schools in the Peel board. Philip Pocock Catholic Secondary School provides a Catholic high school option. The Lakeview Village development is expected to include new school facilities to serve the growing population. Cawthra Park's arts focus brings students from across Mississauga, adding cultural richness to the neighbourhood.
