109 Gloucester Street

Introducing a remarkable opportunity to acquire a Multi-Family Home for sale in Toronto , located at 109 Gloucester Street, Toronto. This legal tri-plex is nestled in the vibrant Church-Yonge Corridor, a thriving community known for its dynamic atmosphere and proximity to numerous amenities. The property boasts a building type of multiplex and is designed in a charming 2 1/2 storey style, constructed with durable brick that adds to its character and appeal.

As you step into this property, you will discover that it features a total of 13 rooms, including five spacious bedrooms and a den, making it an ideal setting for families or potential tenants. The house is equipped with three kitchens, providing ample space for culinary creations, although it does not include an additional kitchen. With four bathrooms available, the convenience for residents is assured. This Multi-Family Home for sale in Toronto offers a unique layout that can accommodate various living arrangements, making it a versatile investment.

The exterior of the property is both inviting and practical, situated on a lot measuring 24 x 124 feet. While there is no garage or driveway, the property does offer a parking space for one vehicle, which is a valuable asset in this bustling area. The front pad parking has been in continuous use for over 60 years, providing a reliable option for vehicle accommodation. For further details regarding parking, interested parties are encouraged to contact the listing agent.

Inside, the property retains many original character features that enhance its charm. You will find exposed brick throughout, which adds a rustic yet modern feel to the living spaces. The main and second floors boast soaring 10-foot ceilings, while the third floor features 9-foot ceilings, creating an airy and spacious environment. Elegant crown moulding and trim work, along with the original front door, contribute to the property's historical allure.

The Multi-Family Home for sale in Toronto is equipped with a family room, perfect for gatherings and relaxation. Although the property does not have a central vacuum system, it does feature wall unit air conditioning, ensuring comfort during the warmer months. The heating system is radiant, providing efficient warmth throughout the colder seasons.

The property is connected to municipal water and sewer services, ensuring reliable utilities for its occupants. Additionally, the basement has a separate entrance and is partially finished, offering potential for further development or additional living space. While the property is offered in an as-is condition and requires some work, there is significant upside potential. With numerous large-scale developments in the area and a high probability for this property to be included in a land assembly for future area development, the investment possibilities are vast.

Renovating this Multi-Family Home for sale in Toronto into three to four beautiful rental units could yield an impressive revenue of approximately $120,000 to $150,000 per year. This potential makes it an attractive option for investors looking to capitalise on the growing demand for rental properties in the heart of Downtown Toronto.

In summary, 109 Gloucester Street, Toronto, presents a rare opportunity to own a legal tri-plex with significant potential for growth and development. With its prime location in the Church-Yonge Corridor, original character features, and the possibility of transforming it into a lucrative investment, this Multi-Family Home for sale in Toronto is not to be missed. Whether you are an investor or a family looking for a spacious home, this property offers a unique blend of charm, potential, and location.

The Church-Yonge Corridor, nestled in the heart of Toronto, is a vibrant and dynamic geographic area renowned for its eclectic mix of urban living and cultural richness. This bustling neighbourhood is characterised by its towering skyscrapers, trendy boutiques, and a diverse array of restaurants and cafes that cater to all tastes. With its close proximity to public transport, including the Yonge subway line, residents enjoy easy access to the city's many attractions, from the scenic waterfront to the historic Distillery District. The area also boasts a lively arts scene, with theatres and galleries that showcase both local and international talent. Whether you're seeking a cosmopolitan lifestyle or a sense of community amidst the city's hustle and bustle, the Church-Yonge Corridor offers an exciting and convenient place to call home.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a short distance, you’ll find Church Street Junior Public School, just 0.4 km away, offering grades JK to 6 with a school rating of 6.4. Winchester Junior and Senior Public School, located 0.7 km from the property, serves grades SK to 8, though it currently has no rating. For older students, Jarvis Collegiate Institute is a mere 0.2 km away, catering to grades 9 to 12 with a rating of 5.9. Additionally, Our Lady of Lourdes Catholic School, also 0.4 km away, provides a Catholic education for grades JK to 8, with a rating of 5.5. St. Joseph's College School, located 0.8 km from the property, offers a strong Catholic education for grades 9 to 12 and boasts a commendable rating of 7.6. Other nearby schools include Holy Name Catholic School and St. Mary Catholic School, both offering French language instruction. Overall, the area is well-served by a mix of public and Catholic schools, providing diverse educational options for families.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 1,068 residents, with an average household size of 1.6 individuals. The demographic profile reveals an average age of 39 years, and the average household income stands at $79,200. Notably, 15.4% of the population is classified as low-income, while a significant majority, 57.84%, are single individuals. Households with children represent a smaller portion at 15.91%. The community is diverse, with 34.58% of residents being immigrants. The rental market is predominant, with 95.65% of residents renting their homes, and there are no condominiums available in the area. The average property price is high, at $1,400,000, reflecting the desirability of the location. Education levels are impressive, with 74.15% of the population holding a college or university degree. However, a notable 22.88% of residents are not participating in the labor force, which may indicate a mix of students, retirees, or those engaged in other activities. Overall, this area combines a well-educated population with a high rental rate, indicating a vibrant community with unique characteristics.