$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.
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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:
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

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