1415, Gerrard, Greenwood-Coxwell, Toronto, Residential Freehold
- 11 beds |
- 8 baths |
- 5000 + SQFT
Description
Residential Freehold Other For Sale.
Turn-key mixed-use investment opportunity in prime downtown Toronto (1 Commercial + 5 Residential). Fully renovated building featuring a large main-floor commercial unit with a full basement plus five high-end residential apartments above. Situated on a high-exposure corner lot with over 7,000 sq. ft. of leased space and three on-site parking spaces, this is a low-maintenance, cash-flowing asset ideal for investors. The government-subsidized daycare tenant has recently signed a 10-year lease extension with scheduled rent increases from $32.00 to $44.00 per sq. ft. net over the lease term. All residential units are exempt from rent control, allowing annual rent increases as permitted under Ontario's post-November 2018 rules. The property currently generates approximately $220,000 NOI with a 5.54% cap rate, increasing to approximately $230,000 NOI and a 5.78% cap rate next year through scheduled rent increases. The seller is offering a 75% Vendor Take-Back (VTB) mortgage at 6.49% interest, fully open for two years to qualified buyers, allowing for positive cash flow while servicing debt. Simply acquire and enjoy this fully upgraded, income-producing asset. Contact us today for the full listing package!
Interior Features: Other
Cross Street: Hiawatha Rd
Direction Faces: South
Key Facts
- Days on: 26 days
- Mls Status: Price Change
- Bedrooms Total: 11
- Bedrooms Above Grade: 11
- Bathrooms Total Integer: 8
- Lot Width: 17.50
- Kitchens Total: 5
- Parking Total: 3
- Parking Spaces: 3
- Parking Features: Lane
- Garage Type: None
- Heat Source: Electric
- Cooling: Other
- Living Area Range: 5000 + Square Feet
Location 1415, Gerrard, Greenwood-Coxwell, Toronto
Search by Neighbourhoods