1048 GERRARD Street E, Toronto E01, ON M4M 1Z8 (Gerrard St E & Jones Ave)

Price : $1,300,000.00 , MLS®# : E12772442

Description

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

Location Description

Gerrard St E & Jones Ave

Property Details
  • Community: South Riverdale
  • Property Type: Owner/Commercial
  • Garages: Outside/Surface
  • Annual Property Taxes : $ 9769.09
Building Features
  • Parking Type : Outside/Surface
Building Features
  • Heating : Gas Forced Air Closed
Land (Lot Features)
  • Frontage: 6.06 sq.ft
  • Land Depth: 33.56sq.ft

Listing Contracted With: CENTURY 21 LEADING EDGE REALTY INC.