486 Montrose Avenue
Palmerston-Little Italy, Toronto, M6G 3H1
FOR SALE
$2,147,000
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4 + 1
BEDROOMS 4
BATHROOMS 3 + 1
KITCHENS 13 + 4
ROOMS C13471464
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Property Description
Visit REALTOR website for additional information. Exceptional investment opportunity in the heart of Toronto's highly sought-after Little Italy/Palmerston neighbourhood. This legal fourplex has been extensively renovated and meticulously maintained, offering a rare combination of strong existing income, vacant units for immediate upside, and outstanding long-term appreciation potential. Featuring four self-contained suites, each with its own heat source with no shared air ducts; each suite also has its own hydro meter, in-suite W/D, dishwasher, and built-in microwave. Two units are tenanted, while two vacant units offer the flexibility to select your own tenants at current market rents or occupy one unit yourself while generating substantial income from the others. The thoughtfully configured layout includes a spacious 1-bed, 1-bath basement apartment in a professionally underpinned (8ft ceiling) lower level; a bright 2-bed, 1-bath main floor suite; a 1-bed, 1-bath second-floor apartment; and a unique upper two-level 1-bed, 1-bath suite spanning the second & third floors; in total, 5 bedrooms and 4 bathrooms across four legal units. Extensive upgrades and renovations throughout deliver turnkey ownership with pride of ownership at every turn; two on-site parking spaces add to tenant appeal and owner convenience. Steps from College Street's renowned restaurants, cafés, boutiques, parks, and transit, this vibrant west-end neighbourhood continues to attract quality tenants and homeowners alike; enjoy easy access to Little Italy, Bickford Park, Christie Pits, Kensington Market, U of T, & downtown. Whether you're an investor seeking immediate cash flow and future rental upside or an owner-occupier looking to offset your mortgage with rental income, this is a rare opportunity to acquire a legal, fully upgraded multi-unit property in one of Toronto's most desirable urban communities.
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Sold History
| List Date | Sold Date | Days Listed | List Price | Sold Price |
|---|---|---|---|---|
| 2013-10-21 | 2013-10-25 | 4 | $998,000 | $1,000,000 |
| 2007-02-21 | 2007-03-01 | 8 | $599,900 | $642,000 |
Nearby Intersections
Property Features
Fenced Yard, Park, Public Transit, Rec./Commun.Centre, School, Floor Drain, Separate Heating Controls, Separate Hydro Meter, Sump Pump, Water Heater Owned, Water Meter, Private Double, Carbon Monoxide Detectors, Smoke Detector
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Property Details
Address
486 Montrose Avenue
Community
City
Postal Code
M6G 3H1
Property Type
Fourplex, Fourplex
Lot Size
28' x 100'
Taxes
$9,722 (2026
Basement
Apartment, Finished with Walk-Out, Full
Exterior
Deck, Patio, Porch
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
2
Garage Type
None
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Listing contracted with Pg Direct Realty Ltd.
W O W !!! Heart Of High Park **** Legal Non Conforming 4 Unit Investment Property Overlooks High Park ** Private Drive With Parking In Rear *** Hardwood Floors *** Great Income ** Extras:4 Fridges, 4 Stoves, 1 Coin-Op Washer And Dryer, All Electrical Light Fixtures * Parking For 4 Cars *
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Exceptional investment opportunity in Toronto's west end! This detached 4-unit fourplex offers strong income potential with existing tenants providing stable rental revenue from day one. Well-suited for investors seeking a multi-unit asset with reliable cash flow and long-term growth potential in a high-demand rental market. Excellent location close to transit, parks, shopping, restaurants, and everyday amenities. Also available for commercial sale. Legal Description: PCL 143-4 SEC M41; PT LT 143 W/S INDIAN RD CRES PL M41 TORONTO; PT LT 144 W/S INDIAN RD CRES PL M41 TORONTO COMM AT A POINT IN THE WLY LIMIT OF WESTERN AV DISTANT 5 FT NLY FROM THE SE ANGLE OF LT 143; THENCE SLY ALONG THE WLY LIMIT OF WESTERN AV 35 FT MORE OR LESS TO A POINT DISTANT 20 FT NLY FROM THE SE ANGLE OF LT 144; THENCE WLY PARALLEL TO THE SLY LIMIT OF LT 144, 125 FT; THENCE NLY PARALLEL TO THE WLY LIMIT OF WESTERN AV, 35 FT MORE OR LESS TO A POINT DISTANT 5 FT NLY FROM THE SLY LIMIT OF LT 143; THENCE ELY PARALLEL TO THE SLY LIMIT OF LT 143, 125 FT TO THE WLY LIMIT OF WESTERN AV TO THE POB; EXCEPT PT 2, R888; TORONTO , CITY OF TORONTO
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Rare turn-of-the-century Victorian fourplex in the heart of Roncesvalles! Exceptional investment opportunity featuring 4 well-maintained units, all with lake and Boulevard Club views. Fully tenanted with strong rental income and excellent tenants. Easy-to-rent location close to transit, waterfront, shops, and amenities. Features hardwood floors throughout, rear laneway access, and parking from the lane. Outstanding future upside with potential for a laneway/accessory building, subject to City approvals. A unique opportunity to own a character-filled income property in one of Toronto's most desirable neighbourhoods.
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