240 Berkeley St
Moss Park, Downtown Toronto, M5A 2X4
FOR SALE
$2,150,000
Sold
$1,900,000
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8 + 2
BEDROOMS3
BATHROOMS2 + 1
KITCHENS13
ROOMSC5148088
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2021-03-11 | 2021-05-03 | 53 | $2,150,000 | $1,900,000 | Sold |
| 2019-06-19 | 2019-08-27 | 69 | $2,850,000 | - | Terminated |
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Property Description
"Location / Location / Location" Rare Development Property For Investors Or Builders. Property Is Located In The Heart Of Downtown Toronto. 15 Mins (1.7Km) Walking Distance To Ryerson University And 30 Mins Walking Distance To U Of T (2.5 Km). The Property Is Being Sold Together W/238 Berkeley St. As Is. Both Properties Combined Have Been Approved For Rezoning. Application For Severance And Site Plan Approval Is In Process For 6 Townhouses W/Modern 3-Storey
Extras
Open Concept Design, 1800 Sq.Ft/Each Above Grade Each. Buyer To Verify Redeveloping W/City Planner. Legal Duplex, Newly Renovated. Finished Basement W/Sep. Entrance. Potential Rental Income $100,000/Yr. 3 Fridges, 3 Stoves, Washer & Dryer.
Nearby Intersections
Dundas & Parliament (14)
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Property Details
Street
Community
City
Property Type
Duplex, 2-Storey
Lot Size
26' x 120'
Fronting
West
Taxes
$6,411 (2020)
Basement
Apartment, Sep Entrance
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
2
Driveway
Private
Garage Type
Detached
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This unique and high-performing duplex, generating $9,600 per month in rental income, offers both current cash flow and future development potential. The property features a 3-bedroom laneway house (separately metered) and a 4-bedroom main house with an additional 2 bedrooms in the basement, providing ample space for tenants. Exciting development potential awaits! The city has expressed support for converting the property into 4 legal units fronting on Lippincott St. and 1 legal unit on Croft St., offering a rare opportunity to maximize the property value. Located in a prime downtown Toronto location, this property is a short walk to the University of Toronto, Toronto General Hospital, shopping, community centers, and more. This is an exceptional opportunity for investors looking to expand their portfolio in one of Toronto's most sought-after neighborhoods.
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