Multiplex on Massive Beach Ravine Lot! Endless Potential and Prime Location! Welcome to 176/178 Balsam Avenue, a once-in-a-generation opportunity in the heart of The Beach! Sitting on an expansive 60 x 194-foot ravine lot, this fully rented multiplex (4 x 2-bedroom units, 2 bachelor units) offers immediate income plus significant future upside. With Toronto's new "as-of-right" zoning you have the potential to add up to 4 more units (sever the properties and create 2x 4+1 units per lot) without lengthy approvals to maximize ROI! Backed by the lush Glen Stewart Ravine, surrounded by multi-million dollar homes, and in prime Beach, this west-facing property offers the best of Beach living, steps to Queen Street retail, the Boardwalk, top schools (Balmy Beach PS, Glen Ames Sr PS, Malvern CI) and easy transit access. Hold, expand, or completely reimagine with "as-of-right" zoning, the future is firmly in your hands. Rarely does a property of this size, location, and potential come to market!
Address
176/178 Balsam Avenue
List Price
$3,349,000
Property Type
Residential Freehold
Type of Dwelling
Multiplex
Style of Home
2-Storey
Area
Toronto E02
Sub-Area
The Beaches
County
Toronto
Bedrooms
8 + 2
Bathrooms
5
Floor Area
3000 - 3500 Sq. Ft.
Lot Depth
194
Lot Size Units
Feet
Lot Width
60
Approx. Age
51 - 99 Years
MLS® Number
E12132872
Listing Brokerage
REAL ESTATE HOMEWARD
Basement Area
Separate Entrance, Finished with Walk-Out
Postal Code
M4E 3C1
Parking
Circular Drive
Parking Places (Total)
12
Tax Amount
$18,626.13
Tax Year
2024
Interior Features
None
Heat Source
Gas
Heat Type
Radiant
Cooling Features
None
Construction Materials
Brick
Direction Faces
West
Foundation Details
Concrete Block
Garage Type
Built-In
Kitchens Total
8
Pool Features
None
Roof
Asphalt Shingle
Sewer
Sewer
