256 GERRARD STREET E, Toronto , Ontario
$2,188,000
- 11 Beds
- 5 Baths
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! (id:56762)
- Listing ID: C8391514
- Property Type: Multi-family
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 256 GERRARD STREET E in Toronto Ontario. It was last modified on September 5th, 2024. Contact Sandra Diab to schedule a viewing or to discover other Toronto real estate for sale.