256 Gerrard Street East, Toronto | Image 1

256 Gerrard Street East

Toronto, Cabbagetown-South St. James Town

  • 9 bed 5 bath
$2,188,000 est.*: $7,412/mo
For Sale

Added 5 months ago

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  • Type: Multiplex

  • Style: Other

  • Lot Size: 17.49 x 132 Feet

  • Age: No Data

  • Taxes: $7,536 per year

  • Days on Site: 121 Days

  • Added: May 29, 2024 (5 months ago)

  • Updated:

  • Last Checked: 8 hours ago

  • MLS®#: C8391514

  • Listed By: International realty firm, inc. brokerage

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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Property

  • Status: Sale

  • Property Type: Multiplex

  • Style: Other

  • Area: Toronto

  • Community: Cabbagetown-South St. James Town

  • Availability Date: TBA

Inside

  • Bedrooms: 9

  • Bedrooms Plus: 2

  • Bathrooms: 5

  • Kitchens: 4

  • Rooms: 11

  • Den/Family Room: Yes

  • Air Conditioning: None

  • Fireplace: No

  • Washrooms: 5

Building

  • Basement: Other

  • Heat Type: Forced Air

  • Heat Source: Gas

  • Exterior: Other

  • Water Supply: Municipal

  • Special Designation: Other

Parking

  • Driveway: Available

  • Garage Type: None

  • Covered Parking Spaces: 2

  • Total Parking Spaces: 2

Fees

  • Tax Year: 2023

  • Tax Legal Description: PT LT 3 BLK C PL D138 TORONTO AS IN CA45102; CITY OF TORONTO

  • Taxes: $7,536

Land

  • Cross Street: Sherbourne St & Gerr

  • Municipality District: Toronto C08

  • Fronting On: East

  • Parcel Number: 210880176

  • Pool: None

  • Sewer: Other

  • Lot Depth: 132 Feet

  • Lot Frontage: 17.49 Feet

  • Zoning: Residential

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Walker's Paradise

  • Daily errands do not require a car.
99 /100

Rider's Paradise

  • Daily errands do not require a car.
93 /100

Biker's Paradise

  • Daily errands do not require a car.
100 /100
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Map of 256 Gerrard Street East, Toronto
6-8

Msgr Fraser College (OL Lourdes Campus)

Elementary: Catholic
0.62 km
JK-6

École élémentaire Gabrielle-Roy

Elementary: Public
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JK-8

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JK-8

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Elementary: Public
0.45 km
JK-8

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Elementary: Public
0.21 km
JK-8

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Elementary: Catholic
0.62 km
9-12

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Secondary: Catholic
0.71 km
9-12

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9-12

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1.04 km
9-12

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Secondary: Public
0.65 km
9-12

Msgr Fraser-Isabella

Secondary: Catholic
1.04 km
9-12

Jarvis Collegiate Institute

Secondary: Public
0.75 km

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