1415 Gerrard Street E, Toronto, ON M4L 1Z5
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1415 Gerrard Street E, Toronto, ON M4L 1Z5,Video Tour
1415 Gerrard Street E, Toronto, ON M4L 1Z5
1415 Gerrard Street E, Toronto, ON M4L 1Z5
1415 Gerrard Street E, Toronto, ON M4L 1Z5
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Tabitha Rourke

Tabitha Rourke

+1(519) 496-4219
Listed by Adam Colalillo • Realty Network
$ 3,999,990
Est. payment /mo
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Price Dropped by $195K

1415 Gerrard Street E Toronto, ON M4L 1Z5

11 Beds

8 Baths

6,545 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-6-9 Unit

Listing Status Active

Purchase Type For Sale

Square Footage 6,545 sqft

Price per Sqft $611

MLS Listing ID 40817959

Bedrooms 11

Abv Grd Liv Area 8,075

Annual Tax Amount $1,330,000

Property Sub-Type Multi-6-9 Unit

Source Cornerstone

Property 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!

Location

Province ON

County Toronto

Area Te01 - Toronto East

Zoning CR2(c1;r2*1573)

Direction Gerrard St E & Hiawatha Rd

Rooms

Basement Full, Partially Finished

Kitchen 0

Interior

Interior Features Separate Heating Controls, Separate Hydro Meters

Heating Electric

Cooling Central Air

Fireplace No

Appliance Dryer, Refrigerator, Stove, Washer

Laundry In-Suite

Exterior

Parking Features Asphalt

Roof Type Flat

Lot Frontage 17.53

Lot Depth 11490.0

Garage No

Building

Lot Description Rectangular, Business Centre, City Lot, Public Parking, Public Transit, School Bus Route, Subways

Faces Gerrard St E & Hiawatha Rd

Story 3

Foundation Poured Concrete

Sewer Sewer (Municipal)

Water Municipal

Structure Type Aluminum Siding,Metal/Steel Siding

New Construction No

Others

Senior Community No

Tax ID 210380605

Ownership Freehold/None

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Tabitha Rourke

Tabitha Rourke

Broker

+1(519) 496-4219

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1415 Gerrard Street E