1415 Gerrard Street E, Toronto, Ontario

About 1415 Gerrard Street E

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! (id:6289)

More Info on this TEGC - Greenwood-Coxwell Residential Commercial Mix MLS® listing

1415 Gerrard Street E is a residential commercial mix listing for sale in Toronto. The MLS® number is 40812208. It covers 7,260 square feet. It's currently listed for $3,749,990. For more details on MLS® 40812208, including price history, disclosures, or to schedule a private showing, fill out the form on this page. This residential commercial mix listing in TEGC - Greenwood-Coxwell is available now!

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