Prime Mixed-Use Investment in Parkdale - a fantastic opportunity to own a fully leased, mixed-use building in the heart of Toronto's vibrant Parkdale community. This property offers secure, long-term commercial income alongside stable residential rental upside. Investment Highlights - Main Floor Commercial Tenant: home to a busy Himalayan restaurant with strong local following and consistent foot traffic. The tenant has just renewed for an additional 5-year term, with further 5-year renewal option, providing excellent income stability. Residential Apartments: The upper level contains two well-proportioned 1-bedroom apartments. Both are leased, with one unit currently under market rent - offering immediate upside potential of approximately $8,000/year in additional income once adjusted to market levels. Secure and Diverse Income: Benefit from dual revenue streams - long-term commercial tenancy plus residential rental growth. Key Features - high visibility Queen St West frontage in the heart of Parkdale; two fully leased residential units for consistent income; commercial lease security with 5 + 5 years remaining; immediate value-add potential through residential rent adjustment; thriving location surrounded by transit, retail, and a dense residential population supporting strong business activity. This is a turn-key investment opportunity in one of Toronto's most dynamic corridors. With reliable commercial tenancy, strong residential demand, and built-in rental upside, 1508 Queen St W offers investors both stability and growth potential.
Address
1508 Queen Street W
List Price
$1,650,000
MLS® Status
New
Expiration Date
2026-01-31
Property Type
Residential Freehold
Type of Dwelling
Multiplex
Style of Home
2-Storey
Transaction Type
For Sale
Area
Toronto W01
Sub-Area
Roncesvalles
Region
Toronto
Bedrooms
2
Bedrooms (Total)
2
Rooms Above Grade
4
Bathrooms
2
Floor Area
1500-2000 Sq. Ft.
Lot Depth
113.65
Lot Size Units
Feet
Lot Width
15.13
Parcel Number
213390437
Occupant Type
Tenant
Cross Street
Queen St W & Jameson
MLS® Number
W12429168
Listing Brokerage
PSR
Basement Area
Finished
Postal Code
M6R 1A4
Posession Details
TBD
Parking
Other
Parking Places (Total)
2
Parking Spaces
2
Tax Amount
$15,245.93
Tax Year
2025
Interior Features
Other
Central Vacuum
No
Family Room
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
Central Air
Construction Materials
Brick
Direction Faces
South
Fireplace
No
Foundation Details
Block
Garage
No
Garage Type
Carport
Kitchens Total
2
Kitchens Above Grade
2
Pool Features
None
Roof
Flat, Membrane
Tax Legal Description
PT LTS 3 & 4, PL 452 PARKDALE, DES AS PT 2, PLAN 64R-14100; T/W EASEMENT OVER PT 3, PLAN 64R-14100 AS IN AT849303; CITY OF TORONTO
Waterfront
No
Sewer
Sewer
