1415 Gerrard Street E

About this Property

Turn-key mixed-use investment opportunity in prime downtown Toronto (1 Commercial + 5 Residential). Fully renovated building featuring a large main-floor commercial unit with a full basement plus five high-end residential apartments above. Situated on a high-exposure corner lot with over 7,000 sq. ft. of leased space and three on-site parking spaces, this is a low-maintenance, cash-flowing asset ideal for investors. The government-subsidized daycare tenant has recently signed a 10-year lease extension with scheduled rent increases from $32.00 to $44.00 per sq. ft. net over the lease term. All residential units are exempt from rent control, allowing annual rent increases as permitted under Ontario's post-November 2018 rules. The property currently generates approximately $220,000 NOI with a 5.54% cap rate, increasing to approximately $230,000 NOI and a 5.78% cap rate next year through scheduled rent increases. The seller is offering a 75% Vendor Take-Back (VTB) mortgage at 6.49% interest, fully open for two years to qualified buyers, allowing for positive cash flow while servicing debt. Simply acquire and enjoy this fully upgraded, income-producing asset. Contact us today for the full listing package!

Listing Details

MLS #

40817959

Board

ITSO

Market

ontario

Property Type

Multi-6-9 Unit

Style

Residential Income

Parking Spaces

3

Basement

Full, Partially Finished

Heating

Electric

Cooling

Central Air

Lot Size

17.53 × 11490 ft

Annual Taxes

$1,330,000/yr

Listed By

Realty Network

Presented By

REMAX Hallmark®

Listed On

April 7, 2026

Days on Market

211

Features & Extras