1415 Gerrard Street E
Toronto E01, ON M4L 1Z5
Price
$3,799,990
Building Size
7,260 sq ft
MLS# E12890406 | Listed by REALTY NETWORK
Business Details
Property Use
Multi-Use
Commercial Space & Financials
Retail Area
3,947 sq ft
Taxes (Annual)
$20,361.16
Industrial Specifications
Lot Size
17.53' × 114.9'
Structure
Freestanding
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!
Price & Status History
Price history is locked
Location
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1415 Gerrard Street E, Toronto E01 M4L 1Z5
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Listing Courtesy of: REALTY NETWORK
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