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New15 hours ago

1659 Gerrard Street E

Woodbine Corridor, Toronto

$1,998,000

Detached|2-Storey
8 | 8 | 5
About this home

A rare eight-unit, income-generating multiplex on a corner lot in the Woodbine Corridor. This detached, 2-storey brick building holds six apartments across the main and second floors, plus two one-bedroom units in the basement, each with good natural light. Extensive recent capital work includes updated windows, roof, driveway, flooring, plumbing, radiators, ceiling fans, LED pot-lights throughout, kitchen cabinets, entrance doors, siding, and gutters. The building offers three separate entrances - front, back, and side - for added tenant privacy and easy access. Parking includes 5 owned spots in the backyard with right of way to the neighbouring property, plus a possible 6th parking as tandem. Laundry is on-site (coin-operated), with owned hot water tank, a water meter, floor drain, and carpet-free units throughout - low-maintenance features that matter to hands-on investors. Inclusions cover 8 fridges, 7 stoves, the washer/dryer, and 7 exhaust fans. Current tenancy is full, offering a stable rent roll from day one. Zoned Rd 1.0, on a 25 x 110 ft corner lot, and steps to the Beach, transit, a hospital, parks, and schools - a location that supports both tenant demand and long-term value. Seller open to a VTB. No retrofit warranty provided by seller. A straightforward opportunity to add a well-located, income-producing asset to your portfolio.

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agent
Angela Montano
(647) 283-2643
TypeDetached
Style2-Storey
Approx. AgeNot available
Size2000-2500 sq. ft.
Property Tax$6,794
Lot Size25 ft x 110 ft
mls© NumberE13689622
Listed ByRE/MAX REALTY SPECIALISTS INC.

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

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Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$10,227
Property tax
$566
Heat allowance
$150
Housing costs
$10,943 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $399,600
25-yr amortization

Income needed

$337,000

gross annual household income

Payment at 4%
$8,408 / mo
Cash down
$399,600

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

Values and trends

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