501 Palmerston Blvd

FOR SALE
$3,199,000
Suspended
$0
501 Palmerston Blvd, Downtown Toronto
501 Palmerston Blvd
501 Palmerston Blvd
501 Palmerston Blvd
501 Palmerston Blvd
501 Palmerston Blvd
501 Palmerston Blvd
501 Palmerston Blvd
501 Palmerston Blvd
501 Palmerston Blvd
7
BEDROOMS
3
BATHROOMS
3
KITCHENS
16
ROOMS
C10422818
MLSID
Contact Us
Listing History
List Date End Date Days Listed List Price Sold Price Status
2024-11-13 2025-01-02 50 $3,199,000 - Suspended
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
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!
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
Property Features
Hospital, Library, Park, Place Of Worship, Public Transit, School
Property Details
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
Room Summary
RoomLevelSizeFeatures
LivingMain14.67' x 10.01', French Doors, Window
BrMain16.01' x 13.16', Window
KitchenMain7.35' x 8.99'Ceramic Floor, Window
2nd BrMain10.99' x 11.75'Hardwood Floor, Closet
3rd BrMain10.76' x 12.60'Hardwood Floor, W/I Closet, Window
Living2nd17.26' x 11.15'Hardwood Floor, Window
Kitchen2nd9.25' x 9.42'Eat-In Kitchen, Ceramic Floor, Window
Br2nd10.83' x 11.32'Hardwood Floor, Closet, Window
2nd Br2nd7.68' x 10.76'Hardwood Floor, Closet, Window
3rd Br2nd12.01' x 12.40'Hardwood Floor, Window
Living3rd13.42' x 12.76'W/O To Deck, Hardwood Floor
Br3rd9.25' x 12.99'Hardwood Floor
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