501 Larsen Avenue

Description

SS now with 24 hours' notice. Offers as received. Listed below the appraised value, this exceptional C1-zoned corner property offers a rare opportunity for investors and owner-occupants alike. Currently configured as a well-maintained side-by-side duplex, it delivers immediate rental income while offering excellent long-term redevelopment or commercial potential. Unit A (3 bed, 1 bath) rents for $1,950/month, Unit B (2 bed, 1 bath) for $1,500/month, and the oversized double detached garage generates an additional $750/month, producing an impressive total gross rental income of $4,200/month ($50,400 annually). The owner pays water for both units and hydro for Unit A and the garage, while Unit B pays its own hydro. Both units feature private entrances, separate laundry, and basements offering ample storage and future development possibilities. Situated on a prime corner lot with back lane access conveniently located close to schools, shopping, public transportation, and everyday amenities, this is an outstanding opportunity to expand your investment portfolio or explore owner-occupancy while generating rental income. Do not miss this income-producing investment opportunity. Book your showing today!

General Information

• Property Type: Multi-Family
• Building Type: Bungalow
• Bedrooms: 5
• Bedrooms Above Grade: 5
• Bathrooms: 2
• Square Feet: 1635
• Year Built: 1921

Neighbourhood Information

• Elmwood
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Home Location

501 Larsen Avenue, Elmwood

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