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Listed 2 months ago

499 Palmerston Boulevard

Palmerston-Little Italy, Toronto

$2,189,000

Semi-Detached |3-Storey
5 | 5 | 1
About this home

Prime South Annex! Grand Edwardian home on the Boulevard with a huge 29x138 foot lot & private drive! **Presently 3 large self-contained suites, all separately metered for hydro & natural gas with each unit controlling their own heat. Perfect opportunity for new owner to occupy the upper 2-storey suite while receiving solid rental income from 2 units. Approximately 3700 sq. ft over 4 levels, including a professionally underpinned basement with 8-foot ceilings. Seller occupies the largest suite on the 2nd & 3rd floor with a flexible floor plan that can easily convert to a 3-bedroom. Bathed in natural light w/hardwood floors, gas fireplace & a splendid sunroom overlooking the private back yard. Third floor bedroom sanctuary with 9.5 ' ceilings, exposed brick, en-suite bath, steam sauna, en-suite laundry and walk-out to a roof top deck. Main floor suite has 2 bedrooms, dining room, gas fireplace, hardwood floors & spacious kitchen. Large spacious 2-bedroom basement Apt. w/ 8 foot ceilings, each bedroom has its own en-suite bath w/shower. 200-amp service, modern wiring & plumbing. Ideal opportunity for co-ownership or multigenerational living. Incredible 138 foot lot extends from the private drive to the incredible back yard where mature trees provide a natural setting with endless possibilities for gardening enthusiasts. Originally built as a single family residence, this home can be transformed back into a majestic single-family residence- now or down the road. Located in a prime mid-block location south of Bloor on a street famous for its iconic original cast iron street lamps. Property qualifies for a Garden Suite, report attached. Just steps to local shops, cafes & restaurants, the Hot Docs Cinema, BMV Books, Metro, University of Toronto & Bathurst Subway.

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agent
Milad Momtaz Azad
(647) 510-8858
TypeSemi-Detached
Style3-Storey
Approx. AgeNot available
Size2500-3000 sq. ft.
Property Tax$12,407
Lot Size29 ft x 138.83 ft
mls© NumberC13434704
Listed ByLOUIS ADAMS 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%
$11,204
Property tax
$1,034
Heat allowance
$150
Housing costs
$12,388 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $437,800
25-yr amortization

Income needed

$381,000

gross annual household income

Payment at 4%
$9,212 / mo
Cash down
$437,800

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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