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$ 3,199,000
Est. payment /mo
Active
501 PALMERSTON BOULEVARD Toronto (palmerston-little Italy), ON M6G2P2
7 Beds
3 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Palmerston-Little Italy
MLS® Listing ID C10422818
Bedrooms 7
Originating Board Toronto Regional Real Estate Board
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! **** EXTRAS **** Walk to nearly completed/redeveloped Mirvish Village, U of T, Quaint Harbord Village - B in the Heart of Toronto's famous Little Italy. (id:24570)
Location
State ON
Rooms
Extra Room 1 Second level 3.4 m X 5.26 m Living room
Extra Room 2 Second level 2.87 m X 2.82 m Kitchen
Extra Room 3 Second level 3.45 m X 3.3 m Bedroom
Extra Room 4 Second level 3.28 m X 2.34 m Bedroom 2
Extra Room 5 Second level 3.78 m X 3.66 m Bedroom 3
Extra Room 6 Third level 3.89 m X 4.09 m Living room
Interior
Heating Radiant heat
Flooring Hardwood, Ceramic
Exterior
Parking Features Yes
View Y/N No
Total Parking Spaces 6
Private Pool No
Building
Story 3
Sewer Sanitary sewer
Others
Ownership Freehold
Listed by FREEMAN REAL ESTATE LTD.