Get $4,995 Cash Back
1659 GERRARD STREET E, Toronto (Woodbine Corridor) — listed at $1,998,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
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-maintenancefeatures 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 straight forward opportunity to add a well-located, income-producing asset to your portfolio. (id:60164)
What makes this a luxury property?+
At $1,998,000, standout features include 3426 sq ft, 8 bathrooms. In this price range, expect higher-end finishes — verify during a showing.
How is the home heated? Is it efficient?+
Heating is hot water radiator heat, natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $6,794.32, heating is hot water radiator heat, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
What's the parking situation?+
This property includes 5 spaces.
Who is 1659 GERRARD STREET E best suited for?+
With null bedrooms and 8 bathrooms, this is ideal for a couple, a small family, or as a low-maintenance investment property.
Is there air conditioning?+
No central cooling is listed. Budget for portable or window units, or get a quote for adding central air — typically $5,000–$10,000 installed.
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