$2,188,000^{FOR SALE}

Investment

Lot: 17.49 x 132 ftTotal Area: 2,776 ft²
2023 Taxes: $7,536

256 Gerrard St E
Toronto, ON M5A 2G2 | Cabbagetown-South St. James Town

Investor Alert! Prime Downtown Investment (Motivated Seller)! This commercial-residential zoned property offers a 5.70% Cap Rate and is fully leased with income-producing units. Featuring 4 well-maintained units, this multi-family investment includes impressive rental income (Main = $3,800; 2nd = $4,400; Top = $1,800). Located in a prime downtown core with steps to amenities and transit, this property has lane access for 2-car parking and potential for additional rental income. Development potential to add 3 extra units (buyer to verify) and bonus opportunity for a 5th unit or laneway house (buyer to verify). Turnkey opportunity with capital appreciation potential. Perfect for multi-generational family living under one roof, and an excellent opportunity for investors seeking a high-yield, mixed-use property. Securing this property early ensures long-term passive income and more profit in coming years. Dont miss this as-is handyman special!

Extras

4 Fridges, 4 Stoves, 3 Dishwashers, 1 Washer, 1 Dryer, ** Hot Water Tanks Rental.

Listed By	INTERNATIONAL REALTY FIRM, INC.
Data Provided By	Toronto Regional Real Estate Board
MLS® Listing Number	C8391530
Last Updated	Sep 27, 2024

Property Summary

Property Type	Investment More like this: Toronto Investment for Sale
Use	Apartments - 2 to 5 Units
Category	Apartment
PIN	210880176
Legal Description	PT LT 3 BLK C PL D138 TORONTO AS IN CA45102; CITY OF TORONTO
Occupancy	Tenant
Possession Date	TBA
Taxes (2023)	$7,536
Tax Type	Annual
Directions/Cross Streets	Sherbourne St & Gerrard St E
Neighbourhood	Cabbagetown-South St. James Town
Area	Toronto

Price History

Interested in obtaining the full price history for this property?
Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.

Detailed Information

Freestanding	Y
Lot	17.49 x 132 ft
Total Area	2,776 ft²
Approximate Age	31-50
Elevator	None
Air Conditioning	N
Basement	Y
Garage Type	Outside/Surface
Parking Spaces	2
Heat Type	Gas Forced Air Closd
Financial Statement	Y
Gross Income/Sales	$144,960
Net Income Before Debt	$112,000
Operating Expenses	$42,625
Year Expenses	$2,023
Expenses Actual/Estimated	Act
% Building	100
Sewers	San+Storm
Utilities	A
Water	Municipal
UFFI	No
Lot/Bldg/Unit Code	Lot
Zoning	Commercial
Seller Property Info Statement	Y

The information contained on this site is based in whole or in part on information that is provided under copyright by the Toronto Regional Real Estate Board (TRREB) or by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. TRREB and CREA reproduce and distribute this information as a service for their members and assume no responsibility for its accuracy. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations of any kind are made with respect to the accuracy of such information.
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.

256 Gerrard St E, Toronto, ON M5A 2G2

Investment

256 Gerrard St E Toronto, ON M5A 2G2 | Cabbagetown-South St. James Town

256 Gerrard St E
Toronto, ON M5A 2G2 | Cabbagetown-South St. James Town