Incredible opportunity to own this turnkey investment in South Riverdale. Building sale includes ownership of coin laundry business; in operation for 40+ years with solid customer base. Main floor offers a legal rear addition containing a kitchenette and additional basement storage with private washroom. The second floor provides a 2 bedroom, 1 bathroom apartment; separately metered with 2 entrances and private rear deck. Potential to rent unit for $2500/month. 3 parking spaces also included with access through rear laneway. The unit has building has the potential to generate up to 6 figures in annual passive income and would be a great addition to any real estate portfolio. End users have the unique opportunity to reside in the unit above while the business below generates the income to pay their mortgage. Business currently has a site manager who is willing to stay and continue to maintain business Business currently has a site manager who is willing to stay and continue to maintain business
Address
1048 Gerrard Street E
List Price
$1,300,000
MLS® Status
New
Expiration Date
2026-04-10
Property Type
Commercial
Type of Dwelling
Store W Apt/Office
Transaction Type
Sale
Area
Toronto E01
Sub-Area
South Riverdale
Region
Toronto
Lot Depth
33.56
Lot Type
Building
Lot Size Units
Metres
Lot Width
6.06
Total Building Area
1789
Occupant Type
Owner
Cross Street
Gerrard St E & Jones Ave
MLS® Number
E12772442
Listing Brokerage
CENTURY 21 LEADING EDGE REALTY INC.
Basement
Yes
Postal Code
M4M 1Z8
Posession Details
IMMEDIATE
Tax Amount
$9,769.09
Tax Year
2025
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heat Type
Gas Forced Air Closed
Cooling Features
No
Garage Type
Outside/Surface
Tax Legal Description
PCL 7-1-D SEC M105; PT LT 7 BLK D N/S GERRARD ST PL M105 TORONTO; PT LT 8 BLK D N/S GERRARD ST PL M105 TORONTO COMM AT A POINT IN THE NLY LIMIT OF GERRARD ST DISTANT 36 FT E FROM THE SW ANGLE OF THE SAID LT 8; THENCE ELY ALONG THE NLY LIMIT OF GERRARD ST 19 FT 8 1/2 INCHES MORE OR LESS TO A POINT IN THE NLY LIMIT OF GERRARD ST DISTANT 55 FT 8 1/2 INCHES ELY FROM THE SW ANGLE OF THE SAID LT 8 THE SAID POINT BEING IN THE SLY PRODUCTION OF THE WLY FACE OF THE WLY WALL OF THE STORE
Security Features
No