1659 Gerrard St E

FOR SALE
$1
1659 Gerrard St E, Toronto
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6 + 2
BEDROOMS
8
BATHROOMS
6 + 2
KITCHENS
13 + 4
ROOMS
E8469026
MLSID
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Property Description
Experience the freedom of managing your own tenants with this exceptional multi-unit residential property. This well-maintained building features six apartments across two floors, along with two one-bedroom apartments in the basement, each boasting ample natural light from their windows. The basement also houses a laundry room, generating additional income.The property includes designated parking, offering four regular spots and an additional one for tenants who wish to rent a space at $50 per month. The building has been meticulously cared for over the years, with recent updates to the windows, roof, and driveway ensuring a modern and clean living environment.All tenants are AAA+ rated, ensuring a stable and pleasant community. This corner lot not only provides a steady income but also promises appreciation in value. Embrace the rewarding experience of running this income-generating property and enjoy the benefits of owning a well-located, highly desirable multi-unit residence.
Listing History
List Date End Date Days Listed List Price Sold Price Status
2024-04-22 2024-05-09 17 $1,900 $1,900 Leased
Extras
8 Fridges, 7 Stoves, Heavy duty coin operated washer and dryer, HWT, 7 exhaust fan, Boiler Rental , some basic furnishing of unit 5
Nearby Intersections
Property Features
Beach, Hospital, Park, Public Transit, School
Property Details
Property Type
Detached, 2-Storey
Lot Size
25' x 110'
Acreage
< .50
Lot Irregularities
irregular
Fronting
South
Taxes
$6,003 (2023)
Basement
Part Fin, Sep Entrance
Exterior
Brick
Heat Type
Water
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
4
Driveway
Private
Garage Type
None
Toronto Market Statistics
Toronto Price Trend
1659 Gerrard St E is a 6-bedroom 8-bathroom home listed for sale at $1, which is $2,965,999 (100.0%) lower than the average sold price of $2,966,000 in the last 30 days (November 17 - December 16). During the last 30 days the average sold price for a 6 bedroom home in Toronto declined by $772,454 (20.7%) compared to the previous 30 day period (October 18 - November 16) and up $1,034,750 (53.6%) from the same time one year ago.
Inventory Change
There were 12 6-bedroom homes listed in Toronto over the last 30 days (November 17 - December 16), which is down 53.8% compared with the previous 30 day period (October 18 - November 16) and down 50.0% compared with the same period last year.
Sold Price Above/Below Asking ($)
6-bedroom homes in Toronto typically sold ($10,142) (0.3%) below asking price over the last 30 days (November 17 - December 16), which represents a $126,557 increase compared to the previous 30 day period (October 18 - November 16) and $30,025 less than the same period last year.
Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 6-bedroom homes in Toronto over the last 30 days (November 17 - December 16) stood at 58.3%, up from 42.3% over the previous 30 days (October 18 - November 16) and up from 33.3% one year ago.
Average Days on Market when Sold vs Delisted
An average time on the market for a 6-bedroom 8-bathroom home in Toronto stood at 36 days when successfully sold over the last 30 days (November 17 - December 16), compared to 72 days before being removed from the market upon being suspended or terminated.
Listing contracted with Right At Home Realty
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