501 Palmerston Blvd
Palmerston-Little Italy, Downtown Toronto, M6G 2P2
FOR SALE
$3,199,000
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Property Description
Historic Palmerston Boulevard: A Rare Investment or Restoration Opportunity! Set on Toronto's iconic Palmerston Boulevard, complete with stately gates and classic lamp posts, this spacious property offers endless potential. This almost 35-ft wide lot features a deep backyard (138 ft) , detached garage, and space for five additional cars all with an open, tree-free layout. Currently configured as a three-unit income property, it boasts generously sized apartments on each floor, with the main level offering a 3-bedroom layout, the second floor providing a spacious 2/3-bedroom unit, and the third floor featuring an updated 1-bedroom apartment. Additional highlights include high ceilings, original stained/leaded glass details, bay windows, wood paneling, and fire safety measures. The unfinished basement, with its high ceilings and exposed brick/stone, awaits your vision. Current tenants enjoy shared laundry facilities and a rear staircase servicing all units for secondary access. Positioned on a charming, historic street with schools, parks, shops, and public transportation just steps away, this 4,100 square-foot property offers both a rare investment, excellent passive income for a buyer who wants to move into one of the units, and the potential to restore it to its grand single-family heritage. A feasibility report suggests the possibility of adding a garden suite at the rear an excellent enhancement for long-term value. Possibility for a 7% cap rate for an entrepreneurial investor with a vision. Dont miss the chance to own a piece of Torontos architectural legacy!
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-06-28 | 2024-09-10 | 74 | $3,299,000 | $3,070,000 | Sold |
| 2024-05-11 | 2024-06-26 | 46 | $3,299,000 | - | Terminated |
| 2023-05-03 | 2023-06-26 | 54 | $4,000 | - | Terminated |
| 2021-06-16 | 2021-06-24 | 8 | $2,110,170 | $3,500,000 | Sold |
Extras
Walk to nearly completed/redeveloped Mirvish Village, U of T, Quaint Harbord Village - B in the Heart of Toronto's famous Little Italy.
Nearby Intersections
Bloor & Bathurst (46)
Property Features
Hospital, Library, Park, Place Of Worship, Public Transit, School
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Property Details
Street
Community
City
Property Type
Detached, 3-Storey
Lot Size
33' x 139'
Fronting
East
Taxes
$13,555 (2024)
Basement
Full, Unfinished
Exterior
Brick
Heat Type
Radiant
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
5
Driveway
Rt-Of-Way
Garage Type
Detached
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Living | Main | 14.67' x 10.01' | , French Doors, Window |
| Br | Main | 16.01' x 13.16' | , Window |
| Kitchen | Main | 7.35' x 8.99' | Ceramic Floor, Window |
| 2nd Br | Main | 10.99' x 11.75' | Hardwood Floor, Closet |
| 3rd Br | Main | 10.76' x 12.60' | Hardwood Floor, W/I Closet, Window |
| Living | 2nd | 17.26' x 11.15' | Hardwood Floor, Window |
| Kitchen | 2nd | 9.25' x 9.42' | Eat-In Kitchen, Ceramic Floor, Window |
| Br | 2nd | 10.83' x 11.32' | Hardwood Floor, Closet, Window |
| 2nd Br | 2nd | 7.68' x 10.76' | Hardwood Floor, Closet, Window |
| 3rd Br | 2nd | 12.01' x 12.40' | Hardwood Floor, Window |
| Living | 3rd | 13.42' x 12.76' | W/O To Deck, Hardwood Floor |
| Br | 3rd | 9.25' x 12.99' | Hardwood Floor |
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Listing contracted with Freeman Real Estate Ltd.
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