An exceptional investment opportunity awaits with this legal non conforming 11-unit multiplex located in the highly desirable Cabbagetown neighbourhood. Zoned for mixed residential and commercial use, this well-maintained property offers flexibility and strong long-term income potential. All 11 units are fully self-contained, and individually metered, providing efficient management and consistent cash flow. The building features a desirable unit mix of eight bachelor suites with unique half-story loft-style sleeping areas and three spacious one-bedroom apartments, appealing to a broad tenant base. Investors have the option to operate the property in its current, stabilized condition or pursue strategic improvements to unlock maximum annual rental income. Significant capital upgrades have already been completed, ensuring peace of mind and reduced future expenses. Improvements include a new roof (2010), furnace (2010), two 50-gallon hot water tanks (2010), updated windows (2010), and upgraded electrical wiring completed in phases (2012 and 2023). With its prime location, legal status, and strong fundamentals, this property represents a compelling opportunity for both seasoned and first-time investors.
Address
177 Carlton Street
List Price
$2,499,000
MLS® Status
New
Expiration Date
2026-05-22
Property Type
Commercial
Type of Dwelling
Investment
Transaction Type
Sale
Area
Toronto C08
Sub-Area
Moss Park
Region
Toronto
Bathrooms
12
Lot Depth
130
Lot Type
Lot
Lot Size Units
Feet
Lot Width
20.5
Total Building Area
2665
Occupant Type
Tenant
Cross Street
Carlton St & Sherbourne St
MLS® Number
C12722514
Listing Brokerage
RE/MAX HALLMARK REALTY LTD.
Basement
Yes
Postal Code
M5A 2K3
Posession Details
30-60-90
Parking Spaces
2
Tax Amount
$11,939.75
Tax Year
2025
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heating
Yes
Heat Type
Gas Forced Air Open
Cooling
No
Cooling Features
No
Garage Type
None
Tax Legal Description
Plan 41 Pt Lots 39 To 41