Exceptional 9-unit mixed-use investment opportunity in the highly desirable Alderwood community of South Etobicoke, offering a strong 4.8% net cap rate with seller VTB financing available (terms to be negotiated). A rare asset offering immediate stable income and long-term upside through flexible mixed-use commercial/residential zoning.Currently configured as a fully stabilized 9-unit residential income property, the building was extensively gutted and renovated between 2017-2018 to condo-style standards. All nine suites feature modern kitchens, updated bathrooms, upgraded flooring, and include fridge, stove, dishwasher, and microwave. Three units have private in-suite laundry, while six units share a lower-level coin-operated laundry, generating additional income.Major upgrades include mechanical systems, high-efficiency furnace, six wall-mounted A/C units, and modern finishes throughout, creating a low-maintenance turnkey investment.Prominently located on the northeast corner of Browns Line and Horner Avenue, this high-exposure corner property offers excellent visibility and access to the QEW, Hwy 427, Gardiner Expressway, and Long Branch GO Station. Minutes to Sherway Gardens, Lake Ontario waterfront, Marie Curtis Park, Farm Boy, and major retail amenities.Mixed-use zoning offers future flexibility for office, retail, professional services, live/work, or continued residential rental use, subject to approvals. Rarely offered with 11 on-site parking spaces. Current rents are at or above market, with one vacancy coming August 1st, creating immediate upside.
Address
496-498 Horner Avenue
List Price
$2,899,000
MLS® Status
New
Property Type
Commercial
Type of Dwelling
Commercial Retail
Transaction Type
Sale
Area
Toronto W06
Sub-Area
Alderwood
Region
Toronto
Lot Depth
125
Lot Type
Lot
Lot Size Units
Feet
Lot Width
44.83
Parcel Number
075810059
Total Building Area
5604
Occupant Type
Tenant
Cross Street
Browns Line/Horner
MLS® Number
W13471956
Listing Brokerage
ROYAL LEPAGE SIGNATURE REALTY
Postal Code
M8W 2B8
Posession Details
TBA
Tax Amount
$18,226.19
Tax Year
2025
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heating
Yes
Heat Type
Electric Forced Air
Cooling
Yes
Cooling Features
Yes
Garage Type
None
Security Features
No
