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Palmerston-Little Italy, Toronto
$2,295,000
Excellent income generating legal fourplex in Palmerston-Little Italy, one of Toronto's most vibrant and in-demand communities.Extremely well-located and well-built. Extensive rebuild from the brick. Top-quality construction and design.Four self-contained luxury apartments with separate entrances, large private balconies, premium finishes and fixtures, high ceilings and lots of natural light. Spacious, thoughtfully designed layouts. Full premium custom kitchens with large islands, undercabinet lighting, high grade granite countertops and full-size stainless-steel appliances. In-suite laundries, office nooks, independent heating and air conditioning systems, separately metered gas and hydro, soundproofing and more. Lower-level with heated floors throughout. Backyard and on-site parking.Steps to Bloor Street, TTC Bloor subway line, buses, Annex, Harbord St., College St, Little Italy, and Ossington Strip, as well as restaurants, shops, schools, parks, bike paths, museums and all amenities. Minutes to University of Toronto, University Health Network, Yorkville, and the Downtown Core.Ideal for investors, multi-generational living or living in one unit and letting the others provide a great source of income. Exceptional turnkey investment in one of Toronto's most coveted neighbourhoods!
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Listing History
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $11,747
- Property tax
- $851
- Heat allowance
- $150
- Housing costs
- $12,748 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$392,000
gross annual household income
- Payment at 4%
- $9,658 / mo
- Cash down
- $459,000
Assumes no other monthly debts · 25-yr amortization
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