$ 3,199,000
501 Palmerston BLVD Toronto C01, ON M6G 2P2
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 3,199,000
Est. payment /mo
New
501 Palmerston BLVD Toronto C01, ON M6G 2P2
7 Beds
3 Baths
UPDATED:
11/14/2024 04:45 PM
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
MLS Listing ID C10422818
Style 3-Storey
Bedrooms 7
Annual Tax Amount $13,554
Tax Year 2024
Property Description
Historic Palmerston Boulevard: A Rare Investment or Restoration Opportunity! Set on Toronto's iconic Palmerston Boulevard, complete with stately gates and classic lamp posts, this spacious property offers endless potential. This almost 35-ft wide lot features a deep backyard (138 ft) , detached garage, and space for five additional cars all with an open, tree-free layout. Currently configured as a three-unit income property, it boasts generously sized apartments on each floor, with the main level offering a 3-bedroom layout, the second floor providing a spacious 2/3-bedroom unit, and the third floor featuring an updated 1-bedroom apartment. Additional highlights include high ceilings, original stained/leaded glass details, bay windows, wood paneling, and fire safety measures. The unfinished basement, with its high ceilings and exposed brick/stone, awaits your vision. Current tenants enjoy shared laundry facilities and a rear staircase servicing all units for secondary access. Positioned on a charming, historic street with schools, parks, shops, and public transportation just steps away, this 4,100 square-foot property offers both a rare investment, excellent passive income for a buyer who wants to move into one of the units, and the potential to restore it to its grand single-family heritage. A feasibility report suggests the possibility of adding a garden suite at the rear an excellent enhancement for long-term value. Possibility for a 7% cap rate for an entrepreneurial investor with a vision. Dont miss the chance to own a piece of Torontos architectural legacy!
Location
Province ON
County Toronto
Area Palmerston-Little Italy
Rooms
Family Room No
Basement Full, Unfinished
Kitchen 3
Interior
Interior Features None
Cooling None
Fireplace No
Heat Source Gas
Exterior
Garage Right Of Way
Garage Spaces 5.0
Pool None
Waterfront No
Roof Type Unknown
Parking Type Detached
Total Parking Spaces 6
Building
Unit Features Hospital,Library,Park,Place Of Worship,Public Transit,School
Foundation Unknown
Listed by FREEMAN REAL ESTATE LTD.
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