1048 GERRARD STREET E, Toronto (South Riverdale), Ontario, M4M1Z8

Property 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 (id:64974)

Quick Facts

• Property Type: Residential Commercial Mix
• Bedrooms: None
• Bathrooms: None
• Living Area: 1,789 sq ft (166.2 m²)
• Frontage: 6.1 m (20 ft)

Costs

• Annual Taxes: $9,769.09

Listing Provided by: CENTURY 21 LEADING EDGE REALTY INC.
Board: Toronto Regional Real Estate Board
Data provided via CREA DDF®.