$1,995,000
57 COWAN AVENUE
Beds
9
Baths
9
Sqft
—
Year
—
Location
See the block, not just the house.
Open the map for street view, commute checks, and nearby schools, groceries, mosques, parks, and transit stops.
About this home
An exceptional and rarely available opportunity to acquire a fully leased 9-unit multiplex in the heart of South Parkdale, one of Toronto's most vibrant and rapidly gentrifying neighbourhoods just steps to trendy King Street West, transit, shops, restaurants, and every day amenities. This well-maintained income property offers zero vacancy, stable tenants, and an excellent cap rate, making it a compelling addition to any investor's portfolio with strong in-place cash flow and long-term upside.The building features nine self-contained units including two small one-bedroom suites, four well-sized one-bedroom plus living room apartments, and three studio units on the upper floor, creating a diverse unit mix that appeals to a broad tenant base. The current owner has been strategically renovating units as they become vacant, and several suites have already been upgraded, offering clear potential for continued improvements and increased rental income overtime.Situated on a quiet residential street, the property also includes a private backyard with shed and potential for a future parking pad, creating additional value and income possibilities. The building has been well maintained with a good roof and freshly painted doors, and benefits from responsible long-term tenants. Zoned "Multiplex With 7 Or More Self-Contained Units," this is a very rare chance to secure a turn key multi-unit investment in a prime west-end Toronto location with strong cash flow today and meaningful long-term appreciation potential. (id:65958)
- Subtype
- Multi-family
- Structure
- Other
- Community
- South Parkdale
- Lot dimensions
- 24 x 87 FT
- Bedrooms
- 7 above grade, 2 below grade
- Parking
- 0 total
- Stories
- 3
- On market
- Mar 17, 2026
- Status changed
- Apr 14, 2026
- Annual tax
- $13,445.73 (2025)
- Photos
- 10
- MLS#
- W12890260
- Area
- TORONTO_(SOUTH_PARKDALE)
Features and systems
Parking
Basement
Heating
Cooling
Exterior
Foundation
Community
View
Utilities
Security
Cash on cash
-11.44%
Cap rate
3.60%
GRM
16.7
Break-even rent
$13,978
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Lifestyle nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Toronto (South Parkdale). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 14, 2026.