Address
486 Montrose Avenue, Toronto, ON
Price
$ 2,147,000
Property Attributes
  • MLS#C13471464
  • TypeMulti-Family
  • Listing Status Sold Conditional
  • CityToronto
  • AreaPalmerston-Little Italy
  • NeighbourhoodPalmerston-Little Italy
  • Postal CodeM6G 3H1
  • Style2 1/2 Storey
  • Taxes$ 9721
  • Price$ 2,147,000
  • Bedrooms5
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage2000-2500
Data Source:
Toronto Real Estate Board (TRREB)
Property Description

Visit REALTOR website for additional information. Exceptional investment opportunity in the heart of Toronto's highly sought-after Little Italy/Palmerston neighbourhood. This legal fourplex has been extensively renovated and meticulously maintained, offering a rare combination of strong existing income, vacant units for immediate upside, and outstanding long-term appreciation potential. Featuring four self-contained suites, each with its own heat source with no shared air ducts; each suite also has its own hydro meter, in-suite W/D, dishwasher, and built-in microwave. Two units are tenanted, while two vacant units offer the flexibility to select your own tenants at current market rents or occupy one unit yourself while generating substantial income from the others. The thoughtfully configured layout includes a spacious 1-bed, 1-bath basement apartment in a professionally underpinned (8ft ceiling) lower level; a bright 2-bed, 1-bath main floor suite; a 1-bed, 1-bath second-floor apartment; and a unique upper two-level 1-bed, 1-bath suite spanning the second & third floors; in total, 5 bedrooms and 4 bathrooms across four legal units. Extensive upgrades and renovations throughout deliver turnkey ownership with pride of ownership at every turn; two on-site parking spaces add to tenant appeal and owner convenience. Steps from College Street's renowned restaurants, cafés, boutiques, parks, and transit, this vibrant west-end neighbourhood continues to attract quality tenants and homeowners alike; enjoy easy access to Little Italy, Bickford Park, Christie Pits, Kensington Market, U of T, & downtown. Whether you're an investor seeking immediate cash flow and future rental upside or an owner-occupier looking to offset your mortgage with rental income, this is a rare opportunity to acquire a legal, fully upgraded multi-unit property in one of Toronto's most desirable urban communities.

Price History
6/20/2026 Listed $2,250,000
9/3/2026 5$2,147,000

General Features

Sewer Sewer
Cooling Central Air
Roof Asphalt Shingle,Flat
Architectural Style 2 1/2 Storey
Pool Features None
Security Features Carbon Monoxide Detectors,Smoke Detector
Construction Materials Brick
Heater Type Forced Air
Parking Spaces 2
Property Subtype Fourplex
Tax Year 2026
Lot Depth 100.17
PropertyFeatures Fenced Yard,Park,Public Transit,Rec./Commun.Centre,School
County Toronto
New Construction No
Property Type Residential Freehold
Attached Garage No
Facing Direction West
Garage Y/N No
Other Structures Fence - Full
Status Sold Conditional
City Toronto C01
Senior Community Y/N No
Lot Size Units Feet
Property Attached Y/N No
Tax Annual Amount 9721.83
Standard Status Active Under Contract
Occupancy Type Tenant
Legal Description PT LT 4-6 BLK A PL 430 CITY WEST AS IN CA517788; CITY OF TORONTO

Interior Features

Interior Amenities Floor Drain,Separate Heating Controls,Separate Hydro Meter,Sump Pump,Water Heater Owned,Water Meter
Basement Apartment,Finished with Walk-Out,Full
Heat Source Gas
Basement (Y/N) No
Air Conditioning Y/N Yes
Heating Y/N Yes
Fireplace Y/N No
Total Bedrooms 5
Elevator? No
Total Baths 4
Bedrooms 4+1
Living Area Range 2000-2500

Exterior Features

Exterior Amenities Deck,Patio,Porch
Waterfront None
Parking Features Private Double
Total Parking 2.0
Garage Type None
Foundation Details Poured Concrete
Spa No
Lot Size Source GeoWarehouse
Waterfront Y/N No
Covered Spaces 0.0

Amenities

  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in M6G 3H1

Price
AVG $3.05M
$2.15M
Visits
AVG 39
294
Data Provided by Inside Real Estate®