Space
Finished area and layout
- Living Area
- 8,075 sqft
- Above Grade
- 6,545 sqft (Other)
- Below Grade
- 1,530 sqft (Other)
- Finished Breakdown
- Above 6,545 sqft + Below 1,530 sqft
- Building Area
- 7,260 sqft
- Bedrooms
- 11
- Bathrooms
- 8
+25 more
11
Bedrooms
8
Bathrooms
8,075 sqft
Living Area
18.0 feet frontage
Lot
3
Parking
Property Snapshot
Key details for this listing
MLS #40812208
About This Property
This 11-bedroom, 8-bathroom multi-family in Toronto offers 8,075 sqft of living area on a 18.0 feet frontage lot. 3 storeys. The home features electric heating, central air conditioning, a partially finished, full basement.
MLS Remarks
Turn-key mixed-use investment opportunity in prime downtown Toronto (1 Commercial + 5 Residential). Fully renovated building featuring a large main-floor commercial unit with a full basement plus five high-end residential apartments above. Situated on a high-exposure corner lot with over 7,000 sq. ft. of leased space and three on-site parking spaces, this is a low-maintenance, cash-flowing asset ideal for investors. The government-subsidized daycare tenant has recently signed a 10-year lease extension with scheduled rent increases from $32.00 to $44.00 per sq. ft. net over the lease term. All residential units are exempt from rent control, allowing annual rent increases as permitted under Ontario's post-November 2018 rules. The property currently generates approximately $220,000 NOI with a 5.54% cap rate, increasing to approximately $230,000 NOI and a 5.78% cap rate next year through scheduled rent increases. The seller is offering a 75% Vendor Take-Back (VTB) mortgage at 6.49% interest, fully open for two years to qualified buyers, allowing for positive cash flow while servicing debt. Simply acquire and enjoy this fully upgraded, income-producing asset. Contact us today for the full listing package! (id:60351)
Full Listing Details
Address1415 GERRARD Street E
MLS#40812208
Listing StatusActive
Property TypeResidential
Sub-TypeMulti-family
TransactionSale
Days on Market222
Common InterestFreehold
Annual Tax$1,330,000
Parking3
Structure TypeResidential Commercial Mix
StyleMultiplex
Bedrooms11
Bathrooms8
Living Area8,075 sqft
Above Grade Area6,545 sqft (Other)
Below Grade Area1,530 sqft (Other)
Stories3
CityToronto
ProvinceOntario
Postal CodeM4L1Z5
SubdivisionTEGC - Greenwood-Coxwell
Frontage18.0 feet
Lot FeaturesPaved driveway
Zoning DetailsCR2(c1;r2*1573)
Total Parking3
HeatingElectric
CoolingCentral air conditioning
BasementPartially finished, Full
FoundationPoured Concrete
ExteriorAluminum siding, Metal
SewerMunicipal sewage system
Water SourceMunicipal water
Annual Tax$1,330,000
Gerrard St E & Hiawatha Rd
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