55 Thirty Eighth Street
Long Branch, Toronto, M8W 3M2
FOR SALE
$2,075,000
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7
BEDROOMS 5
BATHROOMS 5
KITCHENS 12
ROOMS W13780002
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Property Description
TURNKEY MULTIPLEX INVESTMENT IN THE HEART OF LONG BRANCH! An exceptional opportunity to acquire a rare 5 units, fourplex + one non conforming, in one of Etobicoke's most sought-after lakeside communities. Situated on an impressive 50' x 137' lot, just steps from Marie Curtis Park and Lake Ontario, this property offers the combination investors look for: strong in-place income, substantial parking, renovated units, and meaningful potential. The property features five generously sized apartments. four x1 bed suites and one x3 bedroom residence of approximately 1,500 sq. ft. The four one-bedroom units are currently tenanted at market rents, providing immediate, stable cash flow, while the three-bedroom suite is vacant and rent ready or can accommodate an owner-occupier. On-site laundry, a detached four-car garage, and additional exterior parking spaces provide multiple opportunities to generate additional revenue. Located in the heart of Long Branch, surrounded by parks, transit, the lakefront, shops, and established neighbourhood amenities, this property is positioned in a community with strong rental demand and long-term fundamentals.
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Sold History
| List Date | Sold Date | Days Listed | List Price | Sold Price |
|---|---|---|---|---|
| 2023-06-26 | 2023-12-23 | 180 | $1,999,900 | $1,950,000 |
| 2004-08-23 | 2004-10-15 | 53 | $589,000 | $535,000 |
Nearby Intersections
Property Features
Separate Hydro Meter
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Property Details
Address
55 Thirty Eighth Street
Community
City
Postal Code
M8W 3M2
Property Type
Fourplex, Fourplex
Zoning
RD(f12;a370;d0.35)
Lot Size
50' x 136'
Taxes
$8,393 (2026
Basement
Apartment, Finished with Walk-Out
Heat Type
Radiant
Heat Source
Gas
Water
Municipal
Parking Spaces
4
Garage Type
Detached
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Listing contracted with Stonecastle Realty Group Inc.
Exceptional Multiplex Investment Opportunity! Prime McCowan & Lawrence location featuring 4 legal one-bedroom apartments, plus 2 additional units with potential for legal conversion, subject to City of Toronto zoning, building and permit requirements. Located directly across from Scarborough General Hospital, with excellent public transit access and proximity to major healthcare and transportation facilities. The City of Toronto has verbally indicated potential for conversion to a seniors' home, subject to formal approvals, permits and applicable requirements. An excellent opportunity for investors, developers and operators seeking income, redevelopment and conversion potential. Buyers and cooperating brokerages are advised to conduct their own independent due diligence regarding zoning, permitted uses, building code compliance, licensing, permits, legal unit status and any proposed conversion or redevelopment.
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