294 Gerrard St E
FOR SALE
$3,300,000
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9 + 4
BEDROOMS8
BATHROOMS6
KITCHENS17
ROOMSC8391532
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Property Description
Solid Investment Opportunity! Fully Leased 6-Unit Corner Property (Investor Special) with a 5.49% Cap Rate! This income-generating property features 6 beautifully renovated units, including two 2-bedroom apartments. All units have new decks, kitchens, furnaces, and updated plumbing, along with upgraded 200-amp service. The property is well-maintained with a young 8-year-old roof and 9-year-old boiler system, offering minimal maintenance and reliable cash flow. Prime Location & Development Potential: Situated at a high-traffic corner, this property is just a 30-second walk to TTC transit, offering excellent visibility and consistent rental income. With flexible commercial-residential zoning and future development potential, this is a turnkey, high-yield investment with value-add opportunities. Neighbour interest has been expressed, and the motivated seller presents a rare chance to capitalize on long-term capital appreciation. Don't miss this as-is, passive income opportunity!
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-04-17 | 2024-05-31 | 44 | $3,500,000 | - | Terminated |
Extras
6 Fridges, 6 Stoves, 6 Dishwashers, 1 Washer, 1 Dryer, ** Hot Water Tanks Rental. (35004803)
Nearby Intersections
Dundas & Parliament (23)
Carlton & Parliament (21)
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Property Details
Street
Community
City
Property Type
Multiplex, Other
Lot Size
19' x 133'
Fronting
East
Taxes
$7,022 (2023)
Basement
Other
Exterior
Other
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Driveway
Other
Garage Type
None
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Downtown Toronto Market Statistics
Downtown Toronto Price Trend
294 Gerrard St E is a 9-bedroom 8-bathroom home listed for sale at $3,300,000, which is $155,000 (4.9%) higher than the average sold price of $3,145,000 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 9 bedroom home in Downtown Toronto increased by $1,046,112 (49.8%) compared to the previous 30 day period (September 21 - October 20) and up $1,195,000 (61.3%) from the same time one year ago.Inventory Change
There were 7 9-bedroom homes listed in Downtown Toronto over the last 30 days (October 21 - November 19), which is down 22.2% compared with the previous 30 day period (September 21 - October 20) and up 75.0% compared with the same period last year.Sold Price Above/Below Asking ($)
9-bedroom homes in Downtown Toronto typically sold ($54,900) (1.7%) below asking price over the last 30 days (October 21 - November 19), which represents a $3,788 decrease compared to the previous 30 day period (September 21 - October 20) and ($140,000) more 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 9-bedroom homes in Downtown Toronto over the last 30 days (October 21 - November 19) stood at 14.3%, up from 11.1% over the previous 30 days (September 21 - October 20) and down from 25.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 9-bedroom 8-bathroom home in Downtown Toronto stood at 6 days when successfully sold over the last 30 days (October 21 - November 19), compared to 122 days before being removed from the market upon being suspended or terminated.Listing contracted with International Realty Firm, Inc., Brokerage
Similar Listings
This building is on Eglinton ave west where a future subway stop will be located with connections to every part of the city and beyond. It is a 2 storey, 14 unit apartment building comprised of 10 residential units and 4 main floor commercial/retail spaces. Municipal addresses are 2007, 2009, 2011 and 2013 Eglinton Ave West. Lot size is 6250 square feet. The building itself has 10,000 square feet of floor space. There are solar panels on the roof and there is a lower level full height basement. The property is being sold based on land and building value only.
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