An exceptional and rarely available opportunity to acquire a fully leased 9-unit multiplex in the heart of South Parkdale, one of Toronto's most vibrant and rapidly gentrifying neighbourhoods just steps to trendy King Street West, transit, shops, restaurants, and every day amenities. This well-maintained income property offers zero vacancy, stable tenants, and an excellent cap rate, making it a compelling addition to any investor's portfolio with strong in-place cash flow and long-term upside.The building features nine self-contained units including two small one-bedroom suites, four well-sized one-bedroom plus living room apartments, and three studio units on the upper floor, creating a diverse unit mix that appeals to a broad tenant base. The current owner has been strategically renovating units as they become vacant, and several suites have already been upgraded, offering clear potential for continued improvements and increased rental income overtime.Situated on a quiet residential street, the property also includes a private backyard with shed and potential for a future parking pad, creating additional value and income possibilities. The building has been well maintained with a good roof and freshly painted doors, and benefits from responsible long-term tenants. Zoned "Multiplex With 7 Or More Self-Contained Units," this is a very rare chance to secure a turn key multi-unit investment in a prime west-end Toronto location with strong cash flow today and meaningful long-term appreciation potential.
Address
57 Cowan Avenue
List Price
$1,995,000
MLS® Status
Price Change
Expiration Date
2026-08-31
Property Type
Residential Freehold
Type of Dwelling
Multiplex
Style of Home
3-Storey
Transaction Type
Sale
Area
Toronto W01
Sub-Area
South Parkdale
Region
Toronto
Bedrooms
7 + 2
Bedrooms (Total)
9
Rooms Above Grade
18
Rooms Below Grade
8
Bathrooms
9
Floor Area
2500-3000 Sq. Ft.
Lot Depth
87
Lot Size Units
Feet
Lot Width
24
Parcel Number
213010197
Occupant Type
Tenant
Cross Street
King/Dufferin
MLS® Number
W12890260
Listing Brokerage
FOREST HILL REAL ESTATE INC.
Basement Area
Apartment, Separate Entrance, Finished
Postal Code
M6K 2N1
Posession Details
30-90/TBD
Tax Amount
$13,445.73
Tax Year
2025
Site Influences
Deck, Park, Patio, Place Of Worship, Porch, Public Transit, School, School Bus Route
Exterior Features
Deck, Patio, Porch
Interior Features
Other
Property Features
Park, Place Of Worship, Public Transit, School, School Bus Route
Cable
Yes
Central Vacuum
No
Family Room
No
Hydro
Yes
Elevator
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Senior Community
No
Board Or Association
Toronto Regional Real Estate Board
Heat Source
Gas
Heat Type
Radiant
Cooling Features
Wall Unit(s)
Construction Materials
Brick
Direction Faces
East
Fireplace
No
Foundation Details
Concrete
Garage
No
Garage Type
None
Kitchens Total
9
Kitchens Above Grade
9
Pool Features
None
Roof
Asphalt Shingle
Tax Legal Description
PT LT 96 PL 431 PARKDALE AS IN CA187521; CITY OF TORONTO
Security Features
Carbon Monoxide Detectors, Smoke Detector
View Type
City
Waterfront
No
Sewer
Sewer
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