506 Adelaide Street

FOR SALE
$2,100,000
506 Adelaide Street, Toronto
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
506 Adelaide Street
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4
BEDROOMS
3
BATHROOMS
2
KITCHENS
10
ROOMS
C13832346
MLSID
Contact Us
Property Description
Mixed-use investment opportunity in Toronto's King West/Fashion District. The main floor and basement provide retail commercial space, with one residential unit on each of the second and third floors. Both residential units have been recently updated; the second-floor unit is expected to be vacant by November 30. Annual income is approximately $141,000, providing strong holding income and a reported cap rate above 5%. The property's historic character and Adelaide Street West location add long-term appeal. Potential for future redevelopment or adaptive reuse, subject to heritage requirements and municipal approvals. Buyer to verify all income, expenses, tenancies, heritage matters and development potential.
Sold History
List Date Sold Date Days Listed List Price Sold Price
2006-06-26 2006-09-15 81 $474,000 $453,000
Nearby Intersections
Property Features
Library, Park, Public Transit, School, Other, Lane
Property Details
Address
506 Adelaide Street
Postal Code
M5V 1T5
Property Type
Att/Row/Townhouse, Att/Row/Townhouse
Lot Size
16' x 85'
Acreage
1,517.7 Feet
Taxes
$23,560 (2026
Basement
Unfinished
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
2
Garage Type
None
Listing contracted with Harvey Kalles Real Estate Ltd.
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$1,790,000
FOR SALE
Welcome to 490 Gladstone Ave, a remarkable renovated 3-storey triplex offering an exceptional combination of scale, sophistication, income potential & flexibility in the heart of Toronto's vibrant west end. Thoughtfully renovated down to the studs, this impressive property features 5+1 bdrms & 3.5 baths, w/ private entrances serving the main floor, 2nd floor & finished bsmt, each w/ a private bathroom, full kitchen & laundry area.Designed w/ versatility in mind, this property presents an outstanding opportunity for investors, multi-gen families or an owner-occupier seeking additional income. A buyer can live in 1 unit while renting out the other 2, helping offset carrying costs & generating rental income. Alternatively, it can be maintained as a multi-unit investment or enjoyed by a large or extended family seeking to live together while maintaining distinct, private spaces.Contemporary finishes are showcased throughout, including laminate flrs, quartz countertops in the kitchens & bathrooms, & SS appl in all 3 kitchens. The finished bsmt further expands the living space & possibilities. Outdoor living is equally impressive, w/ a large rooftop terr & spacious backyard offering exceptional spaces for entertaining & relaxing. A rear lane parking space adds valuable convenience, w/ potential for possible laneway house. Private 3rd party mortgage may be available for qualified purchasers(discuss w/LA). Just steps from Dufferin Subway Stn, Dufferin Grove Park & an array of neighbourhood amenities, w/ Christie Pits, Dufferin Mall, schools, Bloor St shops, restaurants & cafés all within reach. Enjoy the best of west-end Toronto living w/ seamless access to transit & downtown.Whether envisioned as an income-producing triplex, owner-occupied property w/ rental income, multi-generational residence or property w/ laneway house potential, 490 Gladstone Ave offers a rare combination of quality, functionality & opportunity in one of Toronto's most desirable neighbourhoods.
588 Ossington Avenue, Toronto
3+2
BEDS
4
BATHS
$1,699,000
FOR SALE
Welcome to 588 Ossington Avenue, a rare opportunity to own a dynamic, income-generating property in the heart of Palmerston-Little Italy-one of Toronto's most vibrant and consistently high-demand rental locations. The property is currently configured as four self-contained units, offering multiple income streams and strong flexibility for investors or end-users looking to offset carrying costs. The main floor features a spacious 1+den, 1-bath suite with additional recreational space on the lower level and direct access to a large backyard. The basement includes a separate self-contained bachelor Suite. The second level offers a bright 1+den suite with a private balcony, while the third floor hosts a well-sized 1-bedroom unit. The third-floor tenant is currently on a month-to-month basis, with the remaining units vacant-providing immediate flexibility for leasing or end-user occupancy. Based on current market conditions and rental assumptions, the property presents the potential for an attractive return profile, with cap rate performance that may approach or exceed the 5% range; buyers are advised to conduct their own due diligence. This home offers a turnkey opportunity with limited immediate capital requirements. Features include three separate hydro meters, individual climate control, updated windows, and modern interior finishes throughout. A standout feature is the two-car garage with rear laneway access, significantly enhancing both functionality and tenant appeal. Positioned just steps to Ossington's renowned restaurants, cafes, parks, and transit, this location supports exceptional walkability, strong rental demand, and long-term growth potential.An outstanding opportunity to secure a well-located downtown asset with income-generating potential.
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