1415 GERRARD Street E
Toronto, Ontario
MLS® 40817959
$3,749,990
- Status
- Active
- Property type
- Multi-family
- MLS® number
- 40817959
- Bedrooms
- 11
- Bathrooms
- 8
- Year built
- —
1 / 39Listing description
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!
Property summary
- MLS® number
- 40817959
- Property type
- Multi-family
- Square footage
- 8,075 sq ft
- Title
- Freehold
- Annual property taxes
- $1,330,000.00
- Parking
- 3 spaces
- Days on market
- 162 days
Features & details
- Heating
- Electric
- Cooling
- Central air conditioning
- Basement
- Partially finished, Full
- Exterior features
- Aluminum siding, Metal
- Lot features
- Paved driveway
- Community features
- School Bus
What would this home cost you?
Based on the $3,749,990 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of Realty Network, Hamilton.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.