ON
Toronto
M4L1Z5
1415 E GERRARD E Street
1415 E GERRARD E Street, Toronto, ON M4L1Z5
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Listing Type
Multi Family
Listing Status
Active
38
$3,799,990

Home Details for 1415 E GERRARD E Street

Price
$3,799,990
Type
Residential Income
Bedrooms
11
Total Bathrooms
8
Days on site
110
Listing #
40817959
Property 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:31684)

Property Features
  • Cooling Information
    • Central Air
  • Heating Information
    • Electric
Listing Courtesy: Realty Network
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1450 Clark Ave W. Unit 25, Thornhill, ON L4J 7R5
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289 597 8733
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