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486 Montrose Avenue, Toronto, ON M6G 3H1

Toronto C01, ON, M6G 3H1 · Palmerston-Little Italy

5 Beds
4 Baths
Sq Ft
2 Parking
Fourplex Type
C13471464 MLS#

About this property

Visit REALTOR website for additional information. Exceptional investment opportunity in the heart of Toronto's highly sought-after Little Italy/Palmerston neighbourhood. This legal fourplex has been extensively renovated and meticulously maintained, offering a rare combination of strong existing income, vacant units for immediate upside, and outstanding long-term appreciation potential. Featuring four self-contained suites, each with its own heat source with no shared air ducts; each suite also has its own hydro meter, in-suite W/D, dishwasher, and built-in microwave. Two units are tenanted, while two vacant units offer the flexibility to select your own tenants at current market rents or occupy one unit yourself while generating substantial income from the others. The thoughtfully configured layout includes a spacious 1-bed, 1-bath basement apartment in a professionally underpinned (8ft ceiling) lower level; a bright 2-bed, 1-bath main floor suite; a 1-bed, 1-bath second-floor apartment; and a unique upper two-level 1-bed, 1-bath suite spanning the second & third floors; in total, 5 bedrooms and 4 bathrooms across four legal units. Extensive upgrades and renovations throughout deliver turnkey ownership with pride of ownership at every turn; two on-site parking spaces add to tenant appeal and owner convenience. Steps from College Street's renowned restaurants, cafés, boutiques, parks, and transit, this vibrant west-end neighbourhood continues to attract quality tenants and homeowners alike; enjoy easy access to Little Italy, Bickford Park, Christie Pits, KensingtonMarket, UofT, & downtown. Whether you're an investor seeking immediate cash flow and future rental upside or an owner-occupier looking to offset your mortgage with rental income, this is a rare opportunity to acquire a legal, fully upgraded multi-unit property in one of Toronto's most desirable urban communities. (43405081)

Features & Amenities

  • Basement: Apartment, Finished with Walk-Out, Full
  • Garage: None
  • Cooling: Central Air
  • Heat Type: Forced Air
  • Heat Source: Gas
  • Style: 2 1/2 Storey
  • Construction: Brick
  • Sewer: Sewer

Property Details

Property Type Residential Freehold
Property Sub-Type Fourplex
Architectural Style 2 1/2 Storey
Bedrooms 5
Bathrooms 4
Basement Apartment, Finished with Walk-Out, Full
Garage None
Parking Spaces 2
Heat Type Forced Air
Heat Source Gas
Cooling Central Air
Sewer Sewer
Annual Tax $9,722
Tax Year 2026

Interior Features

Interior Features
Floor Drain, Separate Heating Controls, Separate Hydro Meter, Sump Pump, Water Heater Owned, Water Meter

Exterior Features

Exterior Features
Deck, Patio, Porch
Other Structures
Fence - Full
Pool Features
None

Building & Construction

Architectural Style
2 1/2 Storey
Construction Materials
Brick
Foundation Details
Poured Concrete
Roof
Asphalt Shingle, Flat
Basement
Apartment, Finished with Walk-Out, Full
Approximate Age
100+

Heating & Cooling

Heat Type
Forced Air
Heat Source
Gas
Cooling
Central Air

Parking & Garage

Garage Type
None
Parking Spaces
2
Parking Total
2.00
Parking Features
Private Double
Covered Spaces
0

Lot & Land

Lot Size Units
Feet
Lot Depth
100.17
Lot Width
28.00

Community & Neighborhood

Property Features
Fenced Yard, Park, Public Transit, Rec./Commun.Centre, School

Financial & Tax

Tax Annual Amount
$9,722
Tax Year
2026
Possession Type
Flexible
Possession Details
Flexible

Utilities & Services

Sewer
Sewer

Room Details

Rooms Above Grade
13
Rooms Below Grade
4
Kitchens Above Grade
3
Kitchens Total
4
Bedrooms Above Grade
4
Bedrooms Below Grade
1

Additional Details

Occupant Type
Tenant
Direction Faces
West
County Or Parish
Toronto
Cross Street
South Of Bloor
Directions
South Of Bloor
Special Designation
Unknown
Showing Requirements
Lockbox

Location

486 Montrose Avenue, Toronto, ON M6G 3H1, Toronto C01, ON, M6G 3H1

Listing courtesy of PG DIRECT REALTY LTD.
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