256 Gerrard St E
FOR SALE
$2,188,000
Terminated
$0
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9 + 2
BEDROOMS5
BATHROOMS4
KITCHENS11
ROOMSC8391514
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-05-31 | 2024-11-22 | 175 | $2,188,000 | - | Terminated |
| 2024-04-17 | 2024-05-31 | 44 | $2,388,000 | - | Terminated |
| 2023-06-19 | 2023-08-31 | 73 | $2,199,900 | - | Expired |
| 2023-03-09 | 2023-06-21 | 104 | $2,199,900 | - | Terminated |
| 2022-02-17 | 2022-06-15 | 120 | $2,599,900 | - | Expired |
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Property Description
Investor Alert! Prime Downtown Investment (Motivated Seller)! This commercial-residential zoned property offers a 5.70% Cap Rate and is fully leased with income-producing units. Featuring 4 well-maintained units, this multi-family investment includes impressive rental income (Main = $3,800; 2nd = $4,400; Top = $1,800). Located in a prime downtown core with steps to amenities and transit, this property has lane access for 2-car parking and potential for additional rental income. Development potential to add 3 extra units (buyer to verify) and bonus opportunity for a 5th unit or laneway house (buyer to verify). Turnkey opportunity with capital appreciation potential. Perfect for multi-generational family living under one roof, and an excellent opportunity for investors seeking a high-yield, mixed-use property. Securing this property early ensures long-term passive income and more profit in coming years. Dont miss this as-is handyman special!
Extras
4 Fridges, 4 Stoves, 3 Dishwashers, 1 Washer, 1 Dryer, ** Hot Water Tanks Rental.
Nearby Intersections
Dundas & Parliament (14)
Carlton & Parliament (12)
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Property Details
Street
Community
City
Property Type
Multiplex, Other
Lot Size
17' x 132'
Fronting
East
Taxes
$7,536 (2023)
Basement
Other
Exterior
Other
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
2
Driveway
Available
Garage Type
None
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