Mixed-use investment opportunity in Toronto's King West/Fashion District. The main floor and basement provide retail commercial space, with one residential unit on each of the second and third floors. Both residential units have been recently updated; the second-floor unit is expected to be vacant by November 30. Annual income is approximately $141,000, providing strong holding income and a reported cap rate above 5%. The property's historic character and Adelaide Street West location add long-term appeal. Potential for future redevelopment or adaptive reuse, subject to heritage requirements and municipal approvals. Buyer to verify all income, expenses, tenancies, heritage matters and development potential.
Address
506 Adelaide Street W
List Price
$2,100,000
MLS® Status
New
Property Type
Residential Freehold
Type of Dwelling
Att/Row/Townhouse
Style of Home
3-Storey
Transaction Type
Sale
Area
Toronto C01
Sub-Area
Waterfront Communities C1
Region
Toronto
Bedrooms
4
Bedrooms (Total)
4
Rooms Above Grade
10
Bathrooms
3
Floor Area
2000-2500 Sq. Ft.
Lot Depth
85
Lot Size Units
Feet
Lot Width
16.45
Parcel Number
212390608
Occupant Type
Tenant
Cross Street
Bathurst St & Adelaide St W
MLS® Number
C13832346
Listing Brokerage
HARVEY KALLES REAL ESTATE LTD.
Basement Area
Unfinished
Postal Code
M5V 1T5
Posession Details
TBD
Parking
Lane
Parking Places (Total)
2
Parking Spaces
2
Tax Amount
$23,559.64
Tax Year
2026
Site Influences
Library, Park, Public Transit, School
Interior Features
Other
Property Features
Library, Park, Public Transit, School
Cable
Available
Central Vacuum
No
Family Room
No
Hydro
Yes
Elevator
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
None
Construction Materials
Other
Direction Faces
North
Fireplace
No
Foundation Details
Unknown
Garage
No
Garage Type
None
Kitchens Total
2
Kitchens Above Grade
2
Pool Features
None
Roof
Unknown
Tax Legal Description
PT LT 9 SEC H PL MILITARY RESERVE TORONTO AS IN CT856553; EXCEPT PART 1 ON EXPROPRIATION PLAN AT6643114 SUBJECT TO AN EASEMENT IN GROSS OVER PART 2 ON EXPROPRIATION PLAN AT6643114 AS IN AT6643114 CITY OF TORONTO
View Type
City
Waterfront
No
Sewer
Sewer
