1415 GERRARD St E, Toronto, ON M4L1Z5
- Beds
- 11
- Baths
- 8
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Overview
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:58180)
Location
Full feature list
Basic info
- Property type
- Multi-family
- Number of stories
- 3
- Number of bedrooms
- 11
- Number of bathrooms
- 8
Interior features
- Basement
- Yes
Exterior features
- Horse amenities
- Stable
Utilities
- Heating
- Electric
- Sewer
- Septic System
- Water
- Water
Taxes
- Tax Annual Amount
- $1,330,000
Public schools
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Sourced from: Canadian Real Estate Association MLS®#: 40817959 Last checked: …
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