1415 Gerrard Street E, Toronto, ON M4L 1Z5
Toronto E01, ON, M4L 1Z5 · Greenwood-Coxwell
About this property
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!
Features & Amenities
- Basement: Full, Partially Finished
- Garage: None
- Cooling: Other
- Heat Source: Electric
- Style: Other
- Construction: Aluminum Siding, Metal/Steel Siding
- Sewer: Sewer
Property Details
| Property Type | Residential Freehold |
|---|---|
| Property Sub-Type | Other |
| Architectural Style | Other |
| Bedrooms | 11 |
| Bathrooms | 8 |
| Basement | Full, Partially Finished |
| Garage | None |
| Parking Spaces | 3 |
| Heat Source | Electric |
| Cooling | Other |
| Sewer | Sewer |
| Annual Tax | $1,330,000 |
| Tax Year | 2025 |
Interior Features
- Interior Features
- Other
Exterior Features
- Pool Features
- None
Building & Construction
- Architectural Style
- Other
- Construction Materials
- Aluminum Siding, Metal/Steel Siding
- Foundation Details
- Poured Concrete
- Roof
- Flat
- Basement
- Full, Partially Finished
- Approximate Age
- 51-99
Heating & Cooling
- Heat Source
- Electric
- Cooling
- Other
Parking & Garage
- Garage Type
- None
- Parking Spaces
- 3
- Parking Total
- 3.00
- Parking Features
- Lane
- Covered Spaces
- 0
Lot & Land
- Lot Size Units
- Feet
- Lot Depth
- 114.78
- Lot Width
- 17.50
Financial & Tax
- Tax Annual Amount
- $1,330,000
- Tax Year
- 2025
- Possession Type
- Flexible
- Possession Details
- Flexible
Utilities & Services
- Sewer
- Sewer
Room Details
- Rooms Above Grade
- 0
- Kitchens Above Grade
- 5
- Kitchens Total
- 5
- Bedrooms Above Grade
- 11
Additional Details
- Occupant Type
- Tenant
- Direction Faces
- South
- County Or Parish
- Toronto
- Cross Street
- Hiawatha Rd
- Directions
- Gerrard St E & Hiawatha Rd
- Showing Requirements
- See Brokerage Remarks, Showing System
Location
1415 Gerrard Street E, Toronto, ON M4L 1Z5, Toronto E01, ON, M4L 1Z5