$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)
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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

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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

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