Talk about pride of ownership, this one scores high across all categories. First, you'll fall in love with the gorgeous victorian townhouse curb appeal. Next, it makes great money sense, as you're pulling in approximately $90,000 in NET income and a 5.5% Cap Rate. Tenant quality is also fantastic as it's a true downtown 4plex with all units above ground attracting professional applicants. Detached garage parking off the laneway clears the path for your potential 1250 square foot LANEWAY HOUSE that you could rent out for well over $3,000. Finally, Trinity Bellwoods is arguably Toronto's most vibrant neighbourhood, so you've definitely taken care of location, location, location. I would say overall, the property condition could use some improvements. But there have been plenty of renovations. Full gut reno of third floor unit and front unit on the second floor, kitchens, bathroom, flooring etc. Some updates on the second floor rear unit. The main floor tenant has been there a while, so not much there. The basement could use finishing to maximize rental potential. The electrical is copper, but updating to a 200 amp system is worth it, furnace, roof and A/C are mid life and the garage is original construction. So, it wouldn't take you much to make this into a 9 out of 10, as nothing is perfect:) Recent 2025 improvements to the common areas including new front porch. You can find the full list pf features and improvements attached. It would require a hefty down payment of 20% plus closing fees and land transfer tax, but you could move in yourself to the large two bedroom, main floor unit with a massive backyard and garage parking. After paying your mortgage, property tax and utilities and subtracting for your rental income from the other three units, you could be living, all in, for less than $1,500 per month. This property has mass appeal in Seller markets, so take this opportunity to reward yourself with a savvy investment decision that checks all the boxes.
Address
50 Grove Avenue
List Price
$1,600,000
Property Type
Residential Freehold
Type of Dwelling
Att/Row/Townhouse
Style of Home
3-Storey
Area
Toronto C01
Sub-Area
Trinity-Bellwoods
County
Toronto
Bedrooms
6
Bathrooms
4
Floor Area
2500 - 3000 Sq. Ft.
Lot Size Source
MPAC
Lot Depth
144.75
Lot Size Units
Feet
Lot Width
19
Approx. Age
100+ Years
MLS® Number
C12152177
Listing Brokerage
ROYAL LEPAGE ESTATE REALTY
Basement Area
Unfinished
Postal Code
M6J 3B6
Parking Places (Total)
2
Tax Amount
$8,182.90
Tax Year
2024
Interior Features
Auto Garage Door Remote
Property Features
Park, Place Of Worship, Public Transit, School, Rec./Commun.Centre, Hospital
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
Central Air
Construction Materials
Brick Front
Direction Faces
West
Foundation Details
Brick
Garage Type
Detached
Kitchens Total
4
Pool Features
None
Roof
Asphalt Shingle, Flat
Sewer
Sewer
