39 days on Market

501 Palmerston Blvd, Toronto, Ontario M6G 2P2

Detached
7
3
- sqft
$3,199,000
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Detached
7
3
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Highlights

Estimated ValueNot available

Price/Sqft-

Est. Mortgage$13,738/mo

Tax Amount (2024)$13,555/yr

Days On Market39 days


Description

Historic Palmerston Boulevard: A Rare Investment or Restoration Opportunity! Set on Toronto's iconic Palmerston Boulevard, complete with stately gates and classic lamp posts, this spacious property offers endless potential. This almost 35-ft wide lot features a deep backyard (138 ft) , detached garage, and space for five additional cars all with an open, tree-free layout. Currently configured as a three-unit income property, it boasts generously sized apartments on each floor, with the main level offering a 3-bedroom layout, the second floor providing a spacious 2/3-bedroom unit, and the third floor featuring an updated 1-bedroom apartment. Additional highlights include high ceilings, original stained/leaded glass details, bay windows, wood paneling, and fire safety measures. The unfinished basement, with its high ceilings and exposed brick/stone, awaits your vision. Current tenants enjoy shared laundry facilities and a rear staircase servicing all units for secondary access. Positioned on a charming, historic street with schools, parks, shops, and public transportation just steps away, this 4,100 square-foot property offers both a rare investment, excellent passive income for a buyer who wants to move into one of the units, and the potential to restore it to its grand single-family heritage. A feasibility report suggests the possibility of adding a garden suite at the rear an excellent enhancement for long-term value. Possibility for a 7% cap rate for an entrepreneurial investor with a vision. Dont miss the chance to own a piece of Torontos architectural legacy!


Property Details

Style3-Storey
View-
Age of property100+
SqFt-
Lot Size4,583 SqFt(138.85 x 33.01)
Parking Spaces6
MLS ®NumberC10422818
Community NameHarbord Village
Data SourceTRREB
Listing byFREEMAN REAL ESTATE LTD.

Features

Heating: Radiant
Basement: Full, Unfinished

Main Floor

Br

4.01 x 4.88

Window

Living

3.05 x 4.47

French Doors / Window

2nd Br

3.58 x 3.35

Hardwood Floor / Closet

3rd Br

3.84 x 3.28

Hardwood Floor / W/I Closet / Window


Features

Lot size: 4,583 SqFt

Parking

Garage spaces 1

Garage type Detached

Other parking spaces 5

Total parking spaces 6


Property listed by FREEMAN REAL ESTATE LTD., Brokerage

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Population and Demographics

Overview

Total population 8821
Average household income $178,427

Age (%)

20 to 34
35%
35 to 49
20%
65 and plus
18%
50 to 64
16%
0 to 19
11%

Household composition (%)

Single person
44%
Single family
41%
Multi person
15%
Multi family
0%

Mother tongue (%)

English
71%
Yue (Cantonese)
5%
Mandarin
5%
Portuguese
5%
Italian
3%
Spanish
3%
French
2%
Others
2%
Korean
1%

House tenancy (%)

Renters
60%
Owners
40%

Schools and amenities

Estimated Budget