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About the Listing 572002 -
Exceptional turnkey 9-unit multi-residential investment opportunity in the highly desirable Alderwood community of South Etobicoke, offering a strong 4.8% cap rate (net) and seller VTB financing available, terms to be negotiated.This fully stabilized asset was completely gutted and extensively renovated between 2017-2018 to impressive condo-style standards. All nine suites feature modern kitchens with updated cabinetry, stylish bathrooms, new flooring, and include appliances: fridge, stove, dishwasher, and microwave. Three units offer private in-suite washer/dryer, while six units share a lower-level coin-operated laundry facility, providing additional income potential.Major capital improvements include upgraded mechanical systems, a high-efficiency furnace, six wall-mounted A/C units, and modernized finishes throughout, creating a low-maintenance, hands-off investment ideal for both seasoned and first-time multifamily investors.Positioned prominently on the northeast corner of Browns Line and Horner Avenue, this property benefits from excellent visibility and accessibility, with immediate proximity to major commuter routes including the QEW, Hwy 427, Gardiner Expressway, and Long Branch GO Station. Located minutes to Sherway Gardens, Lake Ontario waterfront trails, Marie Curtis Park, Farm Boy, CF Sherway, and countless retail amenities.Rare investor advantage includes 11 on-site parking spaces, a significant value-add rarely found in urban multifamily assets. Current rents are at or above market, with one upcoming vacancy on August 1st, presenting immediate upside for rental optimization.A rare opportunity to acquire a fully renovated, income-producing, low-maintenance asset in one of Etobicoke's strongest rental corridors.
Listing Highlights
Status
Active
Days on Site
24
Property Type
Multi-Family
MLS ®
W13471954
Year Built
Total Square Footage
3,500
Lot/Acreage
N/A
Interior Details
- Bedrooms: 13
- Bathrooms: 9 Full
- Appliances:
- Air Cond: Central Air,Wall Unit(s)
- Heating: Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: 9 Kitchens
- Water:
Exterior Details
- Garage Capacity: N/A
- Roof: Unknown
- Others:
- Sewer: Sewer
- Parking Features: No Garage
Financial Details
- Tax Amount: $18,226
- Taxes w/Assessments: N/A
- Tax/Property ID: 075810059
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
496-498 Horner Ave Toronto, ON M8W 2B8
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