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:4069)
Address
501 PALMERSTON BOULEVARD
List Price
$3,199,000
Property Type
Single Family
Type of Dwelling
House
Area
Ontario
Sub-Area
Toronto (palmerston Little Italy)
Bedrooms
7
Bathrooms
3
Lot Size
33.01 x 138.85 FT Sq. Ft.
MLS® Number
C10422818
Listing Brokerage
FREEMAN REAL ESTATE LTD.
Basement Area
Full (Unfinished)
Postal Code
M6G2P2
Site Influences
Hospital, Park, Place of Worship, Public Transit, Schools
