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Jacqueline Tai
Engel & Völkers Toronto Central, Brokerage
jacqueline.tai@engelvoelkers.com +1(416) 219-6066$ 2,899,000
Est. payment /mo
Active
496-498 Horner AVE Toronto W06, ON M8W 2B8
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Municipality Toronto W06
Subdivision Alderwood
MLS Listing ID W13471956
Annual Tax Amount $18,226
Tax Year 2025
Property Sub-Type Commercial Retail
Property Description
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.
Location
Province ON
County Toronto
Community Toronto W06
Area Toronto
Zoning Commercial/Residentail
Interior
Cooling Yes
Inclusions The property is equipped with exterior security camera surveillance for added monitoring and security of the common areas.
Exterior
Parking Features None
Utilities Available Yes
Building
Lot Description Lot
Lited by ROYAL LEPAGE SIGNATURE REALTY