49 Jerome Street

High Park North

Floor Plan

49 Jerome Street

For Sale: $1,830,000

8 + 1 Bedrooms
67 Bathrooms

Turn-Key Investment Property: Legal Fourplex In Prime High Park Location

Welcome to a great investment opportunity nestled in the sought-after family-friendly enclave of High Park North. This legal “FOURPLEX” stands out with its recently spruced up curb appeal, offering a blend of classic charm and functionality, with its high ceilings, big windows and an attractive floor plan.

Set on a tree-lined street in a highly desirable and connected west Toronto pocket, this property is perfectly positioned near a range of amenities, top-rated schools, and vibrant community spots.

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Property Details

Prime location with exceptional transit access!

Benefit from a remarkable 95-transit score, making this location a true rider’s paradise with effortless access to both the UP Express and the Subway within minutes. This prime accessibility significantly enhances the appeal for future tenants.

The property is also conveniently close to local shopping on Bloor Street and Toronto’s beloved High Park. 49 Jerome St. seamlessly blends suburban tranquility with urban convenience, ensuring it remains highly desirable for both current and prospective tenants.

Turn-key investment with 4 well-maintained units.

This fourplex is a proven investment with 4 self-contained units, all with separate entrances, ranging from one to three bedrooms, catering to diverse tenant needs. Each unit has a history of full tenancy with respectful, quality tenants. Three out of four units are currently occupied at good market value rents. The top floor, one bedroom unit was recently updated and is now ready to be rented.

As you approach, you’ll be welcomed by a charming and newly renovated front porch and a second-floor balcony, complemented by thoughtfully landscaped outdoor gardens.

The backyard provides additional outdoor space and includes two parking spots accessible via a convenient laneway. This home has seen numerous significant updates over the years, including brand-new wiring, a five-year-old roof, apartment updates and a major enhancement: an underpinned basement.

Currently, three of the units are occupied at strong market rents, while the fourth unit, previously used personally by the sellers, is ready for immediate rental after a small update.

The entire building has been carefully updated over the years, with significant upgrades including modernized electrical systems, an underpinned basement, a five-year-old roof, and a completely rebuilt front porch and upper deck. Each apartment has also seen thoughtful updates, enhancing both comfort and appeal.

Strong financials & future expansion potential

With a solid cap rate of 5%, this property promises strong financial returns. Additionally, there is exciting potential for future expansion.

The current owners had planned a third-floor addition, and architectural drawings for this expansion will be made available to the buyer. This offers an opportunity to increase rental income and property value further.

This legal fourplex in High Park North represents a rare and valuable investment opportunity. With its blend of updated features, prime location, and strong financials, it’s a property you won’t want to miss. Contact us today to explore this exceptional investment and envision the future possibilities it holds.