For Sale

1415 Gerrard Street East, Toronto, QC M4L

$3,799,990

0 Bedrooms
0 Bathrooms
MLS: 29479310

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7,260.00 ft²

Description

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! (id:63285)

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Property Details
DDF® Number	40812208
Property Type	Other
Amenities Near By	Hospital, Public Transit, Schools
Features	Southern Exposure, Visual Exposure, Paved Driveway

Building
Basement Type	Full
Exterior Finish	Aluminum Siding, Stucco
Fireplace Present	No
Foundation Type	Poured Concrete
Stories Total	3
Size Exterior	7260.0000
Size Interior	7260 Sqft
Type	Residential Commercial Mix
Utility Water	Municipal Water

Land
Access Type	Rail Access
Acreage	No
Land Amenities	Hospital, Public Transit, Schools
Sewer	Municipal Sewage System
Size Depth	115 Ft
Size Frontage	18 Ft
Zoning Description	Cr2 (cl;r2*1573)

Utilities
Electricity	Available
Natural Gas	Available

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1415 Gerrard Street East, Toronto, QC M4L

$3,799,990

Description

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