Waterfront Communities C1, Toronto, M5V 1T5
Description
Mixed-use investment opportunity in Toronto's King West/Fashion District. The main floor and basement provide retail commercial space, with one residential unit on each of the second and third floors. Both residential units have been recently updated; the second-floor unit is expected to be vacant by November 30. Annual income is approximately $141,000, providing strong holding income and a reported cap rate above 5%. The property's historic character and Adelaide Street West location add long-term appeal. Potential for future redevelopment or adaptive reuse, subject to heritage requirements and municipal approvals. Buyer to verify all income, expenses, tenancies, heritage matters and development potential. One year FREE Property Management included, Ask LA for details. NOTE: One seller is a Registered Real Estate Saleperson. 2421 sq feet (2949 including basement)
Features
- Facing: North
- Bedrooms: 4
- Bathrooms: 3
- Garages:
- Kitchens: 2
Details
- Lot size: 16.45 x 85.00 Feet
- Space: 2000-2500
- Tax: $ 23559.64
- C13832346
- Listing contracted with: HARVEY KALLES REAL ESTATE LTD.
| Bathroom | Pieces | Level | |
|---|---|---|---|
| 1xBath | 4 pcs | Second |
|
| 1xBath | 4 pcs | Third |
|
| 1xBath | 3 pcs | Main |
Property Summary
Located close to the intersection of Bathurst St & Adelaide St W, 506 Adelaide St W is a 4 bedrooms 3 washrooms Freehold Townhouse. The property has many nice features including Other. .Local Area Profile
This property is located in an area with a significant rental housing presence with a strong concentration of apartment and condominium housing. Approximately 73% of residents hold a bachelor's degree or higher, while about 11% have a college credential. Public transit is commonly used by local commuters, alongside driving.
