Description

Rarely offered for Sale 3 building with Mixed-use commercial and residential. Current property has Commercial units at Ground-level retail units with established tenants providing stable monthly rental income and Residential at Upper-level residential apartments offering consistent occupancy and cash flow. Prime Location:Situated in one of Torontos most vibrant corridors, with high pedestrian and vehicular traffic, excellent transit access, and proximity to the citys cultural, shopping, and entertainment hubs. Development opportunity for a 60-unit apartment development of 15 floors allowing the buyer to significantly enhance the properties long-term value and income potential. Close to U oT which is host over 60.000 students makes high value for the property. (id:66096)

Property Details

MLS®: C14106828
Property Type: Retail
Zoning: Commecial And Residential
Interior Size: 15,000 ft²
Frontage: 45 ft
Building Area: 15,000 ft²
Heating: Forced air
Cooling: None
Property Tax: $85,571.64/yr
Listed: 13 days ago

Market Timing

Days on market

13d

Toronto (Kensington-Chinatown) listings, avg age

81d

Price / ft²

$433

List price

$6.50M

Homes here sell faster than most markets

Sold homes in this market spent an average of 33 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell below asking price

Homes in this market sold for an average of 94.6 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This retail in Toronto (Kensington-Chinatown) has been listed for 13 days, which is 68 days fresher than the city average of 81. Act while there is still low competition.

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Area context

Neighbourhood profile (M5T)

This home lists at $6,500,000, about 105.5× the local median household income of $61,600.

Carrying it typically needs a household income of about $1,269,678 (20% down, 25-yr amortization, stress-tested) — roughly 1961% above the area median.

Median household income: $61,600
Population: 17,903
Median age: 36
Owner / renter: 32% / 68%
Avg. household size: 1.9

Source: Statistics Canada, 2021 Census (FSA M5T)

$6,500,000· $433/ft²

For sale

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Financing

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359 Spadina Avenue, Toronto (Kensington-Chinatown) - Retail for Sale

Description

Property Details

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Market Timing

Location

Nearby Places

Neighbourhood profile (M5T)

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