256 Gerrard St E
FOR SALE
$2,188,000
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9 + 2
BEDROOMS5
BATHROOMS4
KITCHENS11
ROOMSC8391514
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Property Description
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!
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-04-17 | 2024-05-31 | 44 | $2,388,000 | - | Terminated |
| 2023-06-19 | 2023-08-31 | 73 | $2,199,900 | - | Expired |
| 2023-03-09 | 2023-06-21 | 104 | $2,199,900 | - | Terminated |
| 2022-02-17 | 2022-06-15 | 120 | $2,599,900 | - | Expired |
Extras
4 Fridges, 4 Stoves, 3 Dishwashers, 1 Washer, 1 Dryer, ** Hot Water Tanks Rental.
Nearby Intersections
Dundas & Parliament (23)
Carlton & Parliament (21)
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Property Details
Street
Community
City
Property Type
Multiplex, Other
Lot Size
17' x 132'
Fronting
East
Taxes
$7,536 (2023)
Basement
Other
Exterior
Other
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
2
Driveway
Available
Garage Type
None
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Downtown Toronto Market Statistics
Downtown Toronto Price Trend
256 Gerrard St E is a 9-bedroom 5-bathroom home listed for sale at $2,188,000, which is $957,000 (30.4%) lower than the average sold price of $3,145,000 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 9 bedroom home in Downtown Toronto increased by $1,046,112 (49.8%) compared to the previous 30 day period (September 21 - October 20) and up $1,195,000 (61.3%) from the same time one year ago.Inventory Change
There were 7 9-bedroom homes listed in Downtown Toronto over the last 30 days (October 21 - November 19), which is down 22.2% compared with the previous 30 day period (September 21 - October 20) and up 75.0% compared with the same period last year.Sold Price Above/Below Asking ($)
9-bedroom homes in Downtown Toronto typically sold ($54,900) (1.7%) below asking price over the last 30 days (October 21 - November 19), which represents a $3,788 decrease compared to the previous 30 day period (September 21 - October 20) and ($140,000) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 9-bedroom homes in Downtown Toronto over the last 30 days (October 21 - November 19) stood at 14.3%, up from 11.1% over the previous 30 days (September 21 - October 20) and down from 25.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 9-bedroom 5-bathroom home in Downtown Toronto stood at 6 days when successfully sold over the last 30 days (October 21 - November 19), compared to 122 days before being removed from the market upon being suspended or terminated.Listing contracted with International Realty Firm, Inc., Brokerage
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