557 Markham St
Palmerston-Little Italy, Downtown Toronto, M6G 2L6
FOR SALE
$2,999,000
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5 + 2
BEDROOMS6
BATHROOMS5 + 1
KITCHENS14 + 5
ROOMSC10454156
MLSIDContact Us
Property Description
Turnkey investment in the heart of Little Italy! This grand semi-detached home at Bloor & Bathurst offers 6 self-contained rental units (5 occupied) a perfect portfolio addition. The property features 5 one-bedroom units and a spacious 2-level, 2-bedroom suite, and many updates throughout the property. Solid & sympatico tenants provide peace of mind to this investment opportunity. Unbeatable location: steps to Bloor St, Bathurst Subway, U of T, and directly across from the redeveloped and new Mirvish Village. Enjoy nearby shopping, parks, cafes, and dining. Five units enjoy outdoor spaces, two include in-unit laundry, and there's a 2-car garage with laneway access plus a laneway suite study offering exciting development potential. Monthly revenue is approx. $10,320/mo, and once fully occupied projected monthly revenue of $12,580/mo is expected once the recently renovated unit is leased. Investment opportunity not to be missed.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-08-12 | 2024-10-12 | 61 | $2,295 | - | Expired |
| 2024-04-20 | 2024-06-26 | 67 | $2,295 | - | Terminated |
| 2024-01-15 | 2024-03-31 | 76 | $2,395 | - | Expired |
Extras
Strength in numbers: 555 & 565 Markham St. are also for sale (MLS). Maximize your economies of scale, or dream bigger and assemble 3 flagship properties in enviable location. Located on a Low-Traffic, Tree-lined, One-way Street.
Nearby Intersections
Bloor & Bathurst (39)
Property Features
Fenced Yard, Place Of Worship, Public Transit, School
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Property Details
Street
Community
City
Property Type
Multiplex, 2 1/2 Storey
Lot Size
22' x 125'
Fronting
East
Taxes
$9,771 (2024)
Basement
Apartment, Fin W/O
Exterior
Brick, Other
Heat Type
Water
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
2
Driveway
Lane
Garage Type
Detached
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Living | Main | 13.16' x 14.99' | Hardwood Floor, Combined W/Kitchen, Bay Window |
| Br | Main | 17.09' x 13.48' | Hardwood Floor, Fireplace, French Doors |
| Kitchen | Main | 8.17' x 6.99' | Tile Floor, Open Concept |
| Living | Main | 10.01' x 17.85' | Laminate, Combined W/Kitchen, L-Shaped Room |
| Br | Main | 11.15' x 16.34' | Laminate, Closet, W/O To Yard |
| Kitchen | Main | 6.99' x 12.17' | Combined W/Living, Laminate |
| Living | 2nd | 13.09' x 14.34' | Hardwood Floor, Combined W/Kitchen, W/O To Balcony |
| Br | 2nd | 13.85' x 15.85' | Hardwood Floor, Closet |
| Kitchen | 2nd | 7.68' x 9.51' | , Closet |
| Living | 2nd | 10.01' x 8.01' | Laminate, Combined W/Kitchen, W/O To Deck |
| Br | 2nd | 11.68' x 8.01' | Laminate, Closet, O/Looks Backyard |
| Living | 3rd | 13.32' x 10.99' | Combined W/Kitchen, Hardwood Floor, W/O To Deck |
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Downtown Toronto Market Statistics
Downtown Toronto Price Trend
557 Markham St is a 5-bedroom 6-bathroom home listed for sale at $2,999,000, which is $286,732 (10.6%) higher than the average sold price of $2,712,268 in the last 30 days (November 3 - December 2). During the last 30 days the average sold price for a 5 bedroom home in Downtown Toronto declined by $581,088 (17.6%) compared to the previous 30 day period (October 4 - November 2) and down $112,667 (4.0%) from the same time one year ago.Inventory Change
There were 90 5-bedroom homes listed in Downtown Toronto over the last 30 days (November 3 - December 2), which is down 37.9% compared with the previous 30 day period (October 4 - November 2) and down 13.5% compared with the same period last year.Sold Price Above/Below Asking ($)
5-bedroom homes in Downtown Toronto typically sold ($109,862) (4.1%) below asking price over the last 30 days (November 3 - December 2), which represents a $3,767 increase compared to the previous 30 day period (October 4 - November 2) and ($141,945) 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 5-bedroom homes in Downtown Toronto over the last 30 days (November 3 - December 2) stood at 61.1%, up from 42.1% over the previous 30 days (October 4 - November 2) and up from 29.8% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 5-bedroom 6-bathroom home in Downtown Toronto stood at 36 days when successfully sold over the last 30 days (November 3 - December 2), compared to 66 days before being removed from the market upon being suspended or terminated.Listing contracted with Freeman Real Estate Ltd.
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2.91% assumable mortgage due June 2030 with an extremely low monthly payment of only $7,988! This turn key six-plex contains 5-two Bedroom units and 1-bachelor unit. Building and units were fully renovated in 2019, down to the studs. All units fully renovated throughout with quality, long lasting finishes including new kitchen, bathrooms, radiators, floors, appliances, in-wall AC units and in-suite washer/dryer. The building has new electrical & plumbing throughout, furnace, on-demand hot water, FOB entry and security cameras. Essentially a no maintenance building. All units fully tenanted, at market rent. A once in a lifetime opportunity to go back in time and buy with low rates. Individual hydro meters. 5 car parking. $500,000 of interest rate savings over the remaining term of the mortgage (5 years) using todays rates.
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