$3,300,000 FOR SALE

Investment

Lot: 19.28 x 132.56 ftTotal Area: 2,551 ft2
2023 Taxes: $7,022

294 Gerrard St E
Toronto, ON M5A 2G4 | Cabbagetown-South St. James Town

Solid Investment Opportunity! Fully Leased 6-unit Corner Property (Investor Special) with a 5.49% Cap Rate! This income-generating property features 6 units, including two 2-bedroom apartments. All units have new decks, kitchens, furnaces, and updated plumbing, along with upgraded 200-amp service. The property is well-maintained with a young 8-year-old roof and 9-year-old boiler system, offering minimal maintenance and reliable cash flow. Prime Location & Development Potential: This property is situated at a high-traffic corner and offers excellent visibility and consistent rental income. With flexible commercial-residential zoning and future development potential, this is a turnkey, high-yield investment with value-add opportunities. Neighbour interest has been expressed, and the motivated seller presents a rare chance to capitalize on long-term capital appreciation. Dont miss this as-is, passive income opportunity.

Extras
6 Fridges, 6 Stoves, 6 Dishwashers, 1 Washer, 1 Dryer, ** Hot Water Tanks Rental. (35004803)

Share

Listed By INTERNATIONAL REALTY FIRM, INC.
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number C8391534
Last Updated Sep 27, 2024
Property Summary
Property Type Investment

More like this:
Use Apartments - 6 to 12 Units
Category Apartment
PIN 210880246
Legal Description LT B PL D292 Toronto; City of Toronto
Occupancy Tenant
Possession Date TBA
Taxes (2023) $7,022
Tax Type Annual
Directions/Cross Streets Parliment 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 19.28 x 132.56 ft
Total Area 2,551 ft2
Approximate Age 51-99
Elevator None
Air Conditioning N
Basement Y
Garage Type Outside/Surface
Heat Type Gas Forced Air Closd
Financial Statement Y
Gross Income/Sales $202,080
Net Income Before Debt $168,087
Hydro Expense $4,378
Water Expense $2,400
Heat Expenses $3,942
Insurance Expense $3,000
Operating Expenses $45,993
Year Expenses $2,023
Expenses Actual/Estimated Act
% Building 100
Sewers San Avail
Utilities A
Water Municipal
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.