Description

Rare opportunity to acquire a mixed-use building on Yonge Street near Wellesley. The property features a ground-floor retail unit with excellent street exposure and two self-contained residential apartments, including one 1-bedroom and one 3-bedroom unit.Located in a high-demand downtown Toronto neighbourhood with strong pedestrian traffic, transit access, and excellent rental appeal. An ideal income-producing asset for investors or owner-operators. (id:66096)

Property Details

MLS®: C13247254
Property Type: Retail
Zoning: Commercial Retail
Interior Size: 969 ft²
Lot Size: 13 × 78 ft (975 sq ft)
Frontage: 13 ft
Heating: Forced air, Natural gas
Cooling: Fully air conditioned
Property Tax: $31,627/yr
Listed: 152 days ago

Market Timing

Days on market

152d

Toronto (Bay Street Corridor) listings, avg age

59d

Price / ft²

$2,580

List price

$2.50M

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

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Area context

Neighbourhood profile (M4Y)

This home lists at $2,500,000, about 40.1× the local median household income of $62,400.

Carrying it typically needs a household income of about $488,338 (20% down, 25-yr amortization, stress-tested) — roughly 683% above the area median.

Median household income: $62,400
Population: 36,319
Median age: 33.2
Owner / renter: 29% / 72%
Avg. household size: 1.5

Source: Statistics Canada, 2021 Census (FSA M4Y)

$2,500,000· $2,580/ft²

For sale

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Financing

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640 Yonge Street, Toronto (Bay Street Corridor) - Retail for Sale

Description

Property Details

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Market Timing

Location

Nearby Places

Neighbourhood profile (M4Y)

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