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.
Address
496-498 Horner Avenue
List Price
$2,899,000
MLS® Status
New
Property Type
Residential Freehold
Type of Dwelling
Multiplex
Style of Home
2-Storey
Transaction Type
Sale
Area
Toronto W06
Sub-Area
Alderwood
Region
Toronto
Bedrooms
13
Bedrooms (Total)
13
Rooms Above Grade
26
Rooms Below Grade
3
Bathrooms
9
Floor Area
3500-5000 Sq. Ft.
Lot Depth
125
Lot Size Units
Feet
Lot Width
44.83
Parcel Number
075810059
Occupant Type
Tenant
Cross Street
Browns Line & Horner Ave
MLS® Number
W13471954
Listing Brokerage
ROYAL LEPAGE SIGNATURE REALTY
Basement Area
None
Postal Code
M8W 2B8
Posession Details
TBA
Parking Places (Total)
11
Parking Spaces
11
Tax Amount
$18,226.19
Tax Year
2025
Interior Features
None
Central Vacuum
No
Family Room
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heating
Yes
Heat Source
Gas
Heat Type
Baseboard
Cooling
Yes
Cooling Features
Central Air, Wall Unit(s)
Construction Materials
Brick, Aluminum Siding
Direction Faces
North
Fireplace
No
Foundation Details
Unknown
Garage
No
Garage Type
None
Kitchens Total
9
Kitchens Above Grade
9
Pool Features
None
Roof
Unknown
Tax Legal Description
Lot 63 Plan 2195
Waterfront
No
Sewer
Sewer
