486 Montrose Avenue, Toronto, ON M6G 3H1, Toronto C01, ON
Bed 5
Bath 4
Visit REALTOR website for additional information. Exceptional investment opportunity in the heart of Toronto's highly sought-after Little Italy/Palmerston neighbourhood. This legal fourplex has been extensively renovated and meticulously maintained, offering a rare combination of strong existing income, vacant units for immediate upside, and outstanding long-term appreciation potential. Featuring four self-contained suites, each with its own heat source with no shared air ducts; each suite also has its own hydro meter, in-suite W/D, dishwasher, and built-in microwave. Two units are tenanted, while two vacant units offer the flexibility to select your own tenants at current market rents or occupy one unit yourself while generating substantial income from the others. The thoughtfully configured layout includes a spacious 1-bed, 1-bath basement apartment in a professionally underpinned (8ft ceiling) lower level; a bright 2-bed, 1-bath main floor suite; a 1-bed, 1-bath second-floor apartment; and a unique upper two-level 1-bed, 1-bath suite spanning the second & third floors; in total, 5 bedrooms and 4 bathrooms across four legal units. Extensive upgrades and renovations throughout deliver turnkey ownership with pride of ownership at every turn; two on-site parking spaces add to tenant appeal and owner convenience. Steps from College Street's renowned restaurants, cafés, boutiques, parks, and transit, this vibrant west-end neighbourhood continues to attract quality tenants and homeowners alike; enjoy easy access to Little Italy, Bickford Park, Christie Pits, KensingtonMarket, UofT, & downtown. Whether you're an investor seeking immediate cash flow and future rental upside or an owner-occupier looking to offset your mortgage with rental income, this is a rare opportunity to acquire a legal, fully upgraded multi-unit property in one of Toronto's most desirable urban communities. (43405081)
Property Highlights
For Sale
MLS NO.
C13471464
Type
Residential Freehold
Sub Type
Fourplex
Bedrooms
5
Bathrooms
4
Parking
2.0
Complete Property Details
Property Type
Residential Freehold
Sub Type
Fourplex
Transaction Type
For Sale
Status
Active
Contract Status
Available
MLS® Number
C13471464
Living Area Range
2000-2500
Total Bedrooms
5
Bedrooms Above Grade
4
Bedrooms Below Grade
1
Total Bathrooms
4
Total Kitchens
4
Kitchens Above Grade
3
Kitchens Below Grade
1
Rooms Above Grade
13
Rooms Below Grade
4
Interior Features
Floor Drain, Separate Heating Controls, Separate Hydro Meter, Sump Pump, Water Heater Owned, Water Meter
Fireplace
No
Central Vacuum Yn
No
Security Features
Carbon Monoxide Detectors, Smoke Detector
Construction
Brick
Roof
Asphalt Shingle, Flat
Lot Width
28.0
Parking Features
Private Double
Parking Total
2.0
Covered Spaces
0.0
Garage Type
None
Garage
No
Pool
None
Direction Facing
West
Cooling
Central Air
Heat Source
Gas
Heat Type
Forced Air
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
486 Montrose Avenue, Toronto, ON M6G 3H1
City
Toronto C01
Neighbourhood
Palmerston-Little Italy
County / Region
Toronto
Province / State
ON
Postal Code
M6G 3H1
Cross Street
South Of Bloor
Directions
South Of Bloor
Country
CA
List Price
$2,250,000
Annual Taxes
$9,722
Tax Year
2026
Legal Description
PT LT 4-6 BLK A PL 430 CITY WEST AS IN CA517788; CITY OF TORONTO
Possession Type
Flexible
Possession Details
Flexible
Listing Office
PG DIRECT REALTY LTD.
Board
Toronto Regional Real Estate Board
Original Entry
2026-06-20T19:09:35Z
Media Updated
2026-06-20T19:09:36Z
Photos Updated
2026-06-20T19:09:36Z
Last Modified
2026-06-23T01:00:39Z
System Modified
2026-07-06T21:38:05.283367Z
MLS Status
New
Architectural Style
2 1/2 Storey
Basement
Apartment, Finished with Walk-Out, Full
Co List Office Name
PG DIRECT REALTY LTD.
Ddfyn
Yes
Expiration Date
2026-12-20
Foundation Details
Poured Concrete
Heat Source Multi
Gas
Heat Type Multi
Forced Air, Radiant
Hstapplication
Included In
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
212690050
Parking Spaces
2
Property Features
Fenced Yard, Park, Public Transit, Rec./Commun.Centre, School
Public Remarks
Visit REALTOR website for additional information. Exceptional investment opportunity in the heart of Toronto's highly sought-after Little Italy/Palmerston neighbourhood. This legal fourplex has been extensively renovated and meticulously maintained, offering a rare combination of strong existing income, vacant units for immediate upside, and outstanding long-term appreciation potential. Featuring four self-contained suites, each with its own heat source with no shared air ducts; each suite also has its own hydro meter, in-suite W/D, dishwasher, and built-in microwave. Two units are tenanted, while two vacant units offer the flexibility to select your own tenants at current market rents or occupy one unit yourself while generating substantial income from the others. The thoughtfully configured layout includes a spacious 1-bed, 1-bath basement apartment in a professionally underpinned (8ft ceiling) lower level; a bright 2-bed, 1-bath main floor suite; a 1-bed, 1-bath second-floor apartment; and a unique upper two-level 1-bed, 1-bath suite spanning the second & third floors; in total, 5 bedrooms and 4 bathrooms across four legal units. Extensive upgrades and renovations throughout deliver turnkey ownership with pride of ownership at every turn; two on-site parking spaces add to tenant appeal and owner convenience. Steps from College Street's renowned restaurants, cafés, boutiques, parks, and transit, this vibrant west-end neighbourhood continues to attract quality tenants and homeowners alike; enjoy easy access to Little Italy, Bickford Park, Christie Pits, KensingtonMarket, UofT, & downtown. Whether you're an investor seeking immediate cash flow and future rental upside or an owner-occupier looking to offset your mortgage with rental income, this is a rare opportunity to acquire a legal, fully upgraded multi-unit property in one of Toronto's most desirable urban communities. (43405081)
