Multiplexes are such a rare find in Toronto, especially because the city hasn’t allowed new ones to be built for forever, and although a recent council decision means this is no longer the case, we still get excited when one comes on the market.
And when we see one that is actually nice, it’s like spotting a mythical creature.
509 Palmerston Blvd. is like a unicorn because not only is it a quadplex, but it’s also a stunning century-old home that is in great shape.
The living room in the first-floor unit.
With a total of 4,375 square feet, this four-unit property boasts spacious, stunning and bright apartments with tons of character and charm.
The interior staircase that connects all the units.
Some of the original details of 509 Palmerston Blvd. were preserved through stained and leaded glass windows, intricate wood panelling and two fireplaces that are still intact.
New hardwood flooring and wainscotting add tons of warmth and character.
The property, according to the listing, has also been well cared for, with a bunch of updates that range from the newer hardwood oak flooring to the modern mechanics.
The kitchen in the third-floor apartment.
Each apartment within this fourplex is also very unique.
The bedroom in the owner’s suite.
On the main floor you have the “owner’s suite”, which is a large one-bedroom apartment that could be converted into a two-bedroom space if so desired.
The living room of the second floor unit.
On the second floor, you have a two-bedroom apartment with not one, but two decks.
One of the patios.
In other words, it’s the perfect pad for outdoor lounging and entertaining and a dream come summertime.
The third level apartment living room.
The third storey of the home is a small but bright one-bedroom apartment.
The basemnt apartment.
And of course, in the basement there’s another one-bedroom apartment, plus shared coin laundry.
The backyard with a detached garage and four parking spaces.
But perhaps the most one-of-a-kind thing about this house is that there’s actually parking: four spaces to be exact, which is a rare find in such a central location.
The bedroom of the third floor apartment.
Not that you’d need a car in the area. Living on Palmerston Blvd. means you’re in the heart of the city, with everything you need at your fingertips.
A bathroom.
Schools, parks, shops and public transportation are all within easy reach.
One of two bedrooms in the second-level apartment.
Whether you’re an investor looking for a solid investment or a family seeking a multi-generational home, this is a great option.
Another patio.
blogTO didn’t get the official financials from the realtor by the time of publication, but the listing mentions three of the four units are to be vacant upon sale.
A little office nook off of the bedroom in the owner’s suite.
This means if you’re buying this property to rent it out, you can charge market rates.
The kitchen in the owner’s unit.
And right now, market rates in this neighbourhood are pretty lucrative – well over $3,000 a month – which means a decent return on investment and rental income.
The back of the house.
509 Palmerston Blvd. is listed for $3,299,000, down from $3,600,000.
