501 Palmerston Boulevard, Toronto, ON M6G 2P2, Toronto C01, ON
Bed 7
Bath 3
Historic Palmerston Boulevard: A Rare Investment or Restoration Opportunity! Set on Toronto's iconic Palmerston Boulevard, complete with stately gates and classic lamp posts, this spacious property offers endless potential. This almost 35-ft wide lot features a deep backyard (138 ft) , detached garage, and space for five additional cars all with an open, tree-free layout. Currently configured as a three-unit income property, it boasts generously sized apartments on each floor, with the main level offering a 3-bedroom layout, the second floor providing a spacious 2/3-bedroom unit, and the third floor featuring an updated 1-bedroom apartment. Additional highlights include high ceilings, original stained/leaded glass details, bay windows, wood paneling, and fire safety measures. The unfinished basement, with its high ceilings and exposed brick/stone, awaits your vision. Current tenants enjoy shared laundry facilities and a rear staircase servicing all units for secondary access. Positioned on a charming, historic street with schools, parks, shops, and public transportation just steps away, this 4,100 square-foot property offers both a rare investment, excellent passive income for a buyer who wants to move into one of the units, and the potential to restore it to its grand single-family heritage. A feasibility report suggests the possibility of adding a garden suite at the rear an excellent enhancement for long-term value. Possibility for a 7% cap rate for an entrepreneurial investor with a vision. Dont miss the chance to own a piece of Torontos architectural legacy!
Property Highlights
For Sale
MLS NO.
C10422818
Type
Residential Freehold
Sub Type
Detached
Bedrooms
7
Bathrooms
3
Parking
6.0
Complete Property Details
Property Type
Residential Freehold
Sub Type
Detached
Transaction Type
For Sale
Status
Expired
Contract Status
Unavailable
MLS® Number
C10422818
Total Bedrooms
7
Bedrooms Above Grade
7
Total Bathrooms
3
Total Kitchens
3
Kitchens Above Grade
3
Rooms Above Grade
16
Interior Features
None
Fireplace
No
Construction
Brick
Roof
Unknown
Lot Width
33.01
Parking Features
Right Of Way
Parking Total
6.0
Covered Spaces
1.0
Garage Type
Detached
Pool
None
Direction Facing
East
Cooling
None
Heat Source
Gas
Heat Type
Radiant
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
501 Palmerston Boulevard, Toronto, ON M6G 2P2
City
Toronto C01
Neighbourhood
Palmerston-Little Italy
County / Region
Toronto
Province / State
ON
Postal Code
M6G 2P2
Cross Street
Bloor & Bathurst
List Price
$3,199,000
Annual Taxes
$13,555
Tax Year
2024
Legal Description
PLAN 632 PT LOTS 119 AND 120 RP 66R32213 PARTS 3 AND 4
Possession Details
TBD
Listing Office
FREEMAN REAL ESTATE LTD.
Board
Toronto Regional Real Estate Board
Original Entry
2024-11-13T21:52:09Z
Media Updated
2025-01-07T21:26:56Z
Photos Updated
2025-01-07T21:26:56Z
Last Modified
2025-01-02T21:21:20Z
System Modified
2026-03-23T18:27:59.094204Z
MLS Status
Expired
Architectural Style
3-Storey
Basement
Full, Unfinished
Ddfyn
Yes
Expiration Date
2025-04-30
Foundation Details
Unknown
Heat Source Multi
Gas
Heat Type Multi
Radiant
Hstapplication
No
Link Yn
No
Occupant Type
Owner
Originating System Id
A00001796
Parcel Number
212540294
Parking Spaces
5
Property Features
Hospital, Library, Park, Place Of Worship, Public Transit, School
Public Remarks
Historic Palmerston Boulevard: A Rare Investment or Restoration Opportunity! Set on Toronto's iconic Palmerston Boulevard, complete with stately gates and classic lamp posts, this spacious property offers endless potential. This almost 35-ft wide lot features a deep backyard (138 ft) , detached garage, and space for five additional cars all with an open, tree-free layout. Currently configured as a three-unit income property, it boasts generously sized apartments on each floor, with the main level offering a 3-bedroom layout, the second floor providing a spacious 2/3-bedroom unit, and the third floor featuring an updated 1-bedroom apartment. Additional highlights include high ceilings, original stained/leaded glass details, bay windows, wood paneling, and fire safety measures. The unfinished basement, with its high ceilings and exposed brick/stone, awaits your vision. Current tenants enjoy shared laundry facilities and a rear staircase servicing all units for secondary access. Positioned on a charming, historic street with schools, parks, shops, and public transportation just steps away, this 4,100 square-foot property offers both a rare investment, excellent passive income for a buyer who wants to move into one of the units, and the potential to restore it to its grand single-family heritage. A feasibility report suggests the possibility of adding a garden suite at the rear an excellent enhancement for long-term value. Possibility for a 7% cap rate for an entrepreneurial investor with a vision. Dont miss the chance to own a piece of Torontos architectural legacy!
