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$ 2,899,000
Est. payment /mo
New
496-498 Horner AVE Toronto W06, ON M8W 2B8
13 Beds
9 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500-5000
Municipality Toronto W06
Subdivision Alderwood
MLS Listing ID W13471954
Style 2-Storey
Bedrooms 13
Annual Tax Amount $18,226
Tax Year 2025
Property Sub-Type Multiplex
Property Description
Exceptional turnkey 9-unit multi-residential investment opportunity in the highly desirable Alderwood community of South Etobicoke, offering a strong 4.8% cap rate (net) and seller VTB financing available, terms to be negotiated.This fully stabilized asset was completely gutted and extensively renovated between 2017-2018 to impressive condo-style standards. All nine suites feature modern kitchens with updated cabinetry, stylish bathrooms, new flooring, and include appliances: fridge, stove, dishwasher, and microwave. Three units offer private in-suite washer/dryer, while six units share a lower-level coin-operated laundry facility, providing additional income potential.Major capital improvements include upgraded mechanical systems, a high-efficiency furnace, six wall-mounted A/C units, and modernized finishes throughout, creating a low-maintenance, hands-off investment ideal for both seasoned and first-time multifamily investors.Positioned prominently on the northeast corner of Browns Line and Horner Avenue, this property benefits from excellent visibility and accessibility, with immediate proximity to major commuter routes including the QEW, Hwy 427, Gardiner Expressway, and Long Branch GO Station. Located minutes to Sherway Gardens, Lake Ontario waterfront trails, Marie Curtis Park, Farm Boy, CF Sherway, and countless retail amenities.Rare investor advantage includes 11 on-site parking spaces, a significant value-add rarely found in urban multifamily assets. Current rents are at or above market, with one upcoming vacancy on August 1st, presenting immediate upside for rental optimization.A rare opportunity to acquire a fully renovated, income-producing, low-maintenance asset in one of Etobicoke's strongest rental corridors.
Location
Province ON
County Toronto
Community Toronto W06
Area Toronto
Zoning Commercial/Residentail
Rooms
Basement None
Kitchen 9
Interior
Interior Features None
Cooling Central Air, Wall Unit(s)
Exterior
Parking Features None
Pool None
Roof Type Unknown
Total Parking Spaces 11
Building
Foundation Unknown
Lited by ROYAL LEPAGE SIGNATURE REALTY