506 Adelaide Street W
Waterfront Communities C1, Toronto
$2,100,000
Mixed-use investment opportunity in Toronto's King West/Fashion District. The main floor and basement provide retail commercial space, with one residential unit on each of the second and third floors. Both residential units have been recently updated; the second-floor unit is expected to be vacant by November 30. Annual income is approximately $141,000, providing strong holding income and a reported cap rate above 5%. The property's historic character and Adelaide Street West location add long-term appeal. Potential for future redevelopment or adaptive reuse, subject to heritage requirements?merolinx approval and municipal approvals. One year FREE Property Management included, Ask LA for details. NOTE: One seller is a Registered Real Estate Saleperson. 2421 sq feet (2949 including basement)
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| Type | Att/Row/Townhouse |
| Style | 3-Storey |
| Approx. Age | Not available |
| Size | 2000-2500 sq. ft. |
| Property Tax | $23,560 |
| Lot Size | 16.45 ft x 85 ft |
| mls© Number | C13832346 |
| Listed By | HARVEY KALLES REAL ESTATE LTD. |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Schools
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $10,749
- Property tax
- $1,963
- Heat allowance
- $150
- Housing costs
- $12,862 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$396,000
gross annual household income
- Payment at 4%
- $8,837 / mo
- Cash down
- $420,000
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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