176/178 Balsam Avenue

Welcome to the stunning **Multi-Family Home for sale in Toronto ** located at 176/178 Balsam Avenue, Toronto. This remarkable property is nestled in the desirable community of The Beaches, offering an extraordinary opportunity for savvy investors or those looking to create their dream home. With a generous lot size of 60 x 194 feet, this multiplex is truly a gem in the heart of one of Toronto's most sought-after neighbourhoods.

As you approach 176/178 Balsam Avenue, Toronto, you’ll immediately notice the charming brick exterior that gives this two-storey building a classic and inviting appeal. The property boasts a total of 24 rooms, featuring an impressive eight bedrooms and six bathrooms, making it perfect for families or groups seeking ample space. With four kitchens and two additional kitchens, meal preparation will be a breeze, catering to the needs of multiple families or tenants.

This **Multi-Family Home for sale in Toronto** is currently fully rented, comprising four two-bedroom units and two bachelor units, ensuring immediate income for the new owner. The potential for significant future growth is undeniable, especially with Toronto's new "as-of-right" zoning regulations. This means you could potentially add up to four more units, allowing you to sever the properties and create two 4+1 units per lot without the hassle of lengthy approvals. The possibilities are endless, making this an exceptional investment opportunity.

Inside, the property features a finished basement with a separate entrance and a walk-out, providing additional living space or rental potential. Although there is no central vacuum system, no air conditioning, and no fireplace, the radiant heating will keep the space warm and cosy during those chilly Toronto winters. The property is unfurnished, allowing you to put your personal touch on each unit.

Parking is a breeze with a built-in garage that accommodates six vehicles and a circular driveway that offers additional parking space for up to four cars. While there is no pool on the premises, the expansive lot provides plenty of outdoor space for relaxation or entertaining. The absence of additional land means you can focus on maximising the potential of this already impressive property.

The location of 176/178 Balsam Avenue, Toronto, is simply unbeatable. The property is situated just steps away from Queen Street retail, where you’ll find a variety of shops, cafes, and restaurants. The beautiful Boardwalk is also nearby, perfect for leisurely strolls or enjoying the stunning views of Lake Ontario. Families will appreciate the proximity to top-rated schools, including Balmy Beach Public School, Glen Ames Senior Public School, and Malvern Collegiate Institute, making this an ideal spot for those with children.

In summary, this **Multi-Family Home for sale in Toronto** at 176/178 Balsam Avenue, Toronto, offers a rare combination of size, location, and potential. With its expansive lot, multiple rental units, and the opportunity to expand further, this property is a once-in-a-generation opportunity in the heart of The Beach. Whether you’re looking to hold, expand, or completely reimagine this space, the future is firmly in your hands. Don’t miss out on this incredible chance to invest in a prime piece of Toronto real estate!

The Beaches, often simply referred to as "The Beach," is a picturesque neighbourhood located along the eastern shores of Lake Ontario in Toronto. Renowned for its stunning sandy beaches and scenic boardwalk, this vibrant area offers a delightful blend of natural beauty and urban convenience. The tree-lined streets are dotted with charming boutiques, cafes, and restaurants, creating a relaxed yet lively atmosphere. Residents enjoy a strong sense of community, with various local events and festivals throughout the year, while the proximity to parks and waterfront activities provides ample opportunities for outdoor recreation. With its unique character and welcoming vibe, The Beaches is an idyllic choice for those seeking a serene yet engaging lifestyle within the city.

Schools in the Neighbourhood

This property is ideally located near several educational institutions, making it a prime choice for families. The closest option is Balmy Beach Community School, a public elementary school just 0.2 km away, offering grades JK to 6 with a commendable rating of 8.5. St. John Catholic School, also nearby at 0.4 km, provides a strong Catholic education for grades JK to 8 and boasts a rating of 8.2. For older students, Glen Ames Senior Public School is located 0.7 km away, catering to grades 7 and 8, although it currently has a rating of 0. Monarch Park Collegiate Institute, a secondary school 2.6 km from the property, offers grades 9 to 12 and has a solid rating of 8.3. Additionally, Notre Dame High School, another Catholic institution for grades 9 to 12, is only 0.4 km away and enjoys an impressive rating of 8.6. Earl Haig Public School, which offers French immersion for grades JK to 8, is located 2.5 km away and has a rating of 6.8. This diverse range of educational options ensures that residents have access to quality schooling at all levels.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 677 residents, with an average household size of 2.4 individuals. The community is characterized by a median age of 43.6 years and a substantial average household income of $200,000, indicating a relatively affluent demographic. Only 8.4% of the population falls under the low-income bracket, suggesting economic stability. The average property price in the area is approximately $1,800,000, reflecting the high-value real estate market. A notable 35.96% of residents are single, while 46.15% of households include children, highlighting a family-friendly environment. The community is also diverse, with 16.54% of residents being immigrants. Renters comprise 20.75% of the population, and condos make up 24.53% of the housing options available. Education levels are impressive, with 73.33% of residents holding a college or university degree. However, a significant portion of the population, 37.14%, is not actively participating in the labor force. Overall, this area presents a blend of affluence, family orientation, and educational attainment, making it an attractive location for potential homeowners and investors alike.