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In-PersonVirtual Tour
$ 2,999,900
Est. payment | /mo
2,551 SqFt
$ 2,999,900
Est. payment | /mo
2,551 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 2,551 sqft
Price per Sqft $1,175
Municipality Toronto C08
Subdivision Moss Park
MLS Listing ID C13136426
Annual Tax Amount $7,948
Tax Year 2025
Lot Size 2551.000 Acres
Property Sub-Type Investment
Property Description
Attention Investors! An exceptional opportunity to acquire a fully leased 6-unit multi-residential property offering a high-performing rate of return on investment. Investors will benefit from a 5.5% going in CAP rate along with a 9.48% leveraged cap rate with 30% down--one of the best performing and maintained 6-unit buildings in central Toronto. Spread over approximately 4456 sq. ft. of rentable living space (including the basement and rear coach house), this well-maintained asset features a desirable unit mix of four 2-bedroom apartments and two 3-bedroom apartments, appealing to a broad range of tenants in a high-demand rental market. Significant improvements have been completed throughout the property, including updated kitchens, mechanical systems, decks, and improvements to major building components. Strategically positioned at the prominent intersection of Parliament and Gerrard, the property benefits from excellent street exposure, strong connectivity, convenient access to transit, as well as nearby shops and amenities. The property also offers flexible commercial/residential zoning, presenting versatile future redevelopment or value-add potential. Ideal for investors seeking stable cash flow today with long-term upside in a vibrant and highly desirable area.
Location
Province ON
County Toronto
Community Toronto C08
Area Toronto
Zoning Commercial
Interior
Cooling No
Exterior
Parking Features None
Community Features Major Highway, Public Transit
Utilities Available Yes
Building
Lot Description Lot
Others
Virtual Tour https://view.tours4listings.com/294-gerrard-street-east-toronto/nb/
Lited by ROYAL LEPAGE REAL ESTATE SERVICES LTD.
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