261 Grace Street

Toronto, ON M6G 3A7 ( Palmerston-Little Italy)

Quick Facts

Type: Triplex

Style: 2 1/2 Storey

Size: Sq Ft

Age: Years

Taxes: $ 7,021 ( 2025)

Updated: 2026-10-20 12:39:30

Description

This unique end-unit townhouse offers an exceptional investment opportunity, featuring three self-contained apartments, each with its own private entrance, kitchen and three-piece bathroom. The basement apartment features one bedroom and a spacious living and dining area. The main-floor one-bedroom apartment offers a private walkout to the rear deck, complete with space for a barbecue. The second and third floors form a spacious three-bedroom apartment with two balconies offering spectacular views. There is shared laundry equipment on the lower level, providing added convenience. A 2 car detached garage with direct access to the rear laneway presents exciting potential for a future laneway house, subject to approvals, offering additional income or development possibilities while maintaining the feel of a traditional residential property. Ideally situated just half a block north of College Street, in the vibrant College and Grace neighbourhood, the property is surrounded by the best of Little Italy, including popular restaurants, cafés, patios, independent boutiques and lively local shops. Enjoy easy access to public transit, parks, everyday amenities and the dynamic atmosphere of one of Toronto\'s most sought-after urban communities. With only the basement apartment currently rented and the main-floor and upper-level apartments vacant, this property offers investors an excellent opportunity to secure rental income, lease the vacant units at current market rates and explore its future income and development potential.

Extras

Triplex

Property

Status: For Sale

MLS #: C14096636

Price: $ 1,499,999

Address: 261 Grace Street

Type:

Style: 2 1/2 Storey

Size: Sq Ft

Age: Years

Front On:

Taxes: $ 7,021

Tax Year: 2025

Lot Size:

Neighbourhood: Palmerston-Little Italy

Nearest Intersection: College & Grace

City: Toronto

Postal Code: M6G 3A7

DOM: 9 Days

Last Update: 2026-10-20 12:39:30

 

Building

Interior

Bedrooms: 5

Bathrooms: 3

Rooms: 0

Kitchens: 3

Family Room:

Fireplace:

Basement: Apartment,

Central Vacuum:

 

Exterior

Exterior: Brick,

Driveway:

Garage:

Garage Spaces:

Parking Spaces: 2.00

Pool:

 

Utilities

Electricity (Hydro):

Gas:

Phone:

Cable TV:

Heat Type: Forced Air

Heat Source: Gas

Air Conditioning: Central Air Window Unit(s)

Water:

Sewers:

 

Features

 

Rooms