391 Royal York Road

Presenting a remarkable opportunity, this Multi-Family Home for sale in Etobicoke is a splendid investment for multi-generational families or astute investors seeking a turn-key, fully tenanted property. Located at 391 Royal York Road, Etobicoke, this property has undergone extensive renovations in 2021, ensuring that it meets modern living standards while retaining its unique charm.

The property boasts a substantial Gross Floor Area (GFA) of approximately 3,000 square feet, situated on a generous 32 x 100 feet lot. The building is a well-maintained three-storey multiplex constructed from durable brick, which not only enhances its aesthetic appeal but also ensures longevity. This Multi-Family Home for sale in Etobicoke features a total of six bedrooms, providing ample space for families or tenants. With three bathrooms and three fully equipped kitchens, each unit is designed for self-sufficiency and convenience, catering to the needs of its occupants.

The layout of the property includes two units with two bedrooms and one full bathroom each, alongside a third unit that features two bedrooms, a den, and an additional full bathroom. This versatile arrangement makes it ideal for families seeking to live together while maintaining their own private spaces, or for investors looking to maximise rental income. Each unit is fully self-contained, with its own parking space, making this Multi-Family Home for sale in Etobicoke a highly desirable option for potential tenants.

Situated in the vibrant district of Mimico, 391 Royal York Road, Etobicoke, is surrounded by a neighbourhood rich in character and community spirit. The area is steeped in history, with remnants of its past evident in the charming architecture and local establishments. The proximity to neighbouring areas such as New Toronto, Stonegate Queensway, and Long Branch adds to the appeal of this location.

Accessibility is a key feature of this property, as it is bordered by major arterial routes including the Gardiner Expressway, QEW, and Highway 427, with Lake Ontario to the south. Residents will appreciate the convenience of being within walking distance to highly regarded schools, parks, restaurants, and shops. Furthermore, the ease of access to public transport options, including the GO Train, subway, and TTC, enhances the attractiveness of this Multi-Family Home for sale in Etobicoke.

Inside the property, the amenities are tailored for modern living. Central air conditioning ensures comfort throughout the year, while the family room provides a welcoming space for relaxation and gatherings. Although there is no central vacuum system, the property is unfurnished, allowing new owners the freedom to personalise the space according to their tastes and preferences. The heating is provided by an alternative system, and the property is connected to municipal water and sewer services, ensuring reliability and convenience.

While this Multi-Family Home for sale in Etobicoke does not feature a pool or fireplace, the absence of these amenities is more than compensated for by the property's extensive renovations and prime location. The basement has been converted into an apartment, adding further value and potential rental income to this already lucrative investment.

In summary, 391 Royal York Road, Etobicoke, represents an exceptional opportunity for those looking to invest in a well-located, fully tenanted property in a thriving community. With its spacious layout, modern amenities, and proximity to essential services and transport links, this Multi-Family Home for sale in Etobicoke is not to be missed. Embrace the chance to secure a property that offers both comfort and potential in one of Toronto's most charming neighbourhoods.

Mimico, nestled within the vibrant city of Etobicoke, is a charming lakeside neighbourhood that offers a unique blend of urban convenience and natural beauty. Located along the shores of Lake Ontario, it boasts picturesque waterfront parks and scenic walking trails, perfect for leisurely strolls or cycling. The area features a mix of residential options, from historic homes to modern condominiums, catering to a diverse population. With a variety of local shops, cafes, and restaurants, as well as easy access to public transport, including the GO train and TTC, Mimico provides a welcoming atmosphere for those seeking a balanced lifestyle. Its strong sense of community, coupled with the tranquil lakeside setting, makes it an appealing choice for anyone considering a move to this part of Etobicoke.

Schools in the Neighbourhood

This property is ideally situated near several reputable educational institutions, making it an excellent choice for families. The closest option is George R Gauld Junior School, a public elementary school located just 0.1 km away, offering grades JK to 5. For a broader range of grades, John English Junior Middle School, also public, is only 1.0 km away and provides education from JK to 8, with a commendable school rating of 7.1. Additionally, St. Louis Catholic School, located 0.7 km from the property, serves grades JK to 8 and has a solid rating of 7, available in both English and French. For secondary education, Lakeshore Collegiate Institute is 2.6 km away, while Bishop Allen Academy, a Catholic high school with an impressive rating of 9, is located 1.7 km from the property. Overall, the area boasts a variety of public and Catholic schools with strong academic reputations, ensuring that families have access to quality education in close proximity. This makes the property not only a comfortable home but also a strategic investment for families prioritizing education.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 639 residents, with an average household size of 2.1. The demographic profile indicates a mature community, with an average age of 40.1 years. The average household income stands at $94,000, although 16% of the population is classified as low-income. The real estate market reflects a significant demand, with an average property price of $1,000,000. The community is predominantly single, comprising 54.46% of the population, while 32.35% of households include children. Notably, 30% of residents are immigrants, contributing to the area's cultural diversity. The rental market is robust, with 75% of residents renting their homes, and only 3.33% of properties being condominiums. Educational attainment is high, with 55.26% of the population holding a college or university degree. However, a considerable portion, 40.35%, is not actively participating in the labor force. This demographic snapshot highlights a well-educated, diverse community with a significant rental market, making it an attractive area for potential investors and residents alike.