175 Grace Street, Toronto, ON
Palmerston-Little Italy, Toronto · MLS® C13071502
About this home
Fully renovated Multiplex in a prime, high-demand downtown location, offering a rare turnkey investment opportunity with strong income potential. This exceptional property comprises four self-contained units: Units 1 & 2 & 3 each feature 4 spacious bedrooms and 2 full bathrooms, while the lower-level unit offers a well-designed 3-bedroom, 2-bathroom layout. All units have been extensively upgraded with modern, high-quality finishes, including new flooring, contemporary kitchens with stainless steel appliances, and elegantly renovated bathrooms. Each suite is equipped with its own private in-suite laundry, enhancing tenant convenience and desirability. Bright, functional layouts with generous principal rooms and large windows provide abundant natural light throughout. A newly constructed rear fire escape staircase has also been added to enhance safety and meet current building standards. The property includes a highly sought-after detached 4-car garage at the rear, offering valuable parking in this dense urban setting. Additional features include a rooftop sun deck with seasonal CN Tower views, adding further appeal for tenants. Ideally situated in one of Toronto's most desirable downtown neighborhoods, just steps to U of T, College Street, Metro grocery, cafés, restaurants, parks (Trinity Bellwoods, Bickford), YMCA, and the Bob Abate Community Centre. A truly turnkey, low-maintenance asset in an unbeatable location.
Key facts
- Property type
- Other, 3-Storey
- MLS®
- C13071502
- Bedrooms
- 15 (12 + 3)
- Bathrooms
- 8
- Size
- 3500-5000
- Lot
- 27 × 129 ft
- Cross streets
- College Street & Grace Street
- Parking
- 4 parking
- Driveway
- Private
- Basement
- Finished, Separate Entrance, Walk-Up
- Kitchens
- 4 (3 + 1)
- Heating
- Forced Air
- A/C
- None
- Exterior
- Brick
- Foundation
- Concrete, Brick
- Roof
- Shingles
- Sewer
- Sewer
- Property tax
- $14,818 / 2025
- Days on market
- 82
- Listing brokerage
- RE/MAX REALTRON WENDY ZHENG REALTY
Rooms
vinyl floor · window · california shutters
large window · vinyl floor · open concept
vinyl floor · picture window · california shutters
vinyl floor · large window · california shutters
vinyl floor · large window · california shutters
vinyl floor · stainless steel appl · quartz counter
vinyl floor · stainless steel appl · quartz counter
vinyl floor · stainless steel appl · open concept
vinyl floor · stainless steel appl · quartz counter
vinyl floor · skylight · open concept
vinyl floor · large window · california shutters
vinyl floor · window · california shutters
vinyl floor · above grade window · california shutters
vinyl floor · open concept · above grade window
vinyl floor · large window · california shutters
vinyl floor · window · california shutters
vinyl floor · fireplace · large window
vinyl floor · large window · california shutters
vinyl floor · 4 pc ensuite · california shutters
vinyl floor · skylight
vinyl floor · window · california shutters
vinyl floor · above grade window · california shutters
vinyl floor · window · california shutters
Listed at $4,500,000, this home is within the range of a wider set of listings, but with few close matches nearby, so worth confirming with a precise CMA. The number above is my independent estimate of value, not the asking price.
There are only a few closely comparable homes right here, so this is a broad read from wider listings in the area. Ask me for a precise CMA before relying on it.
Based on 29 similar homes nearby, adjusted for size, beds, and baths.Median of 29 comparable active listings, adjusted for size, beds, and baths. The city (MPAC) assessment points to about $3.05M, lower than the comparables and worth a second look.
How I got there
Here is the exact math behind the estimate. I start from the closest comparable listing and adjust for the real differences (size, beds, baths) to land on a like-for-like value for this home.
- Closest comparable, listed at $3.40M
- Bedrooms +$300K
- Bathrooms +$30K
- Adjusts to $3.73M
That comparable adjusts to $3.73M; the $4.32M estimate above is the median of all 29 comparables, which is steadier than any single home.This uses comparable active listings, not sold prices. Lot, condition, and finishes are my in-person call, and I can run a full CMA with recent solds.
Its public catchment (Clinton Street Junior Public School) tests around the provincial average, a steady, family-friendly draw. The full EQAO breakdown is below.
Total price vs nearby homes. Fair value about $4.32M, median of 29 comparables.
What the listing highlightsThese are claims from the listing. The only way to know for sure is to see it in person, and I am happy to book you a private showing.
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled. Value driver
- Currently tenanted: confirm the lease terms and vacant-possession timing before closing. Worth verifying
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 1 closest active listing nearby.
See all comparable homesThis home lists 10% above the area average of $959/sqft.
On the market now.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Palmerston-Little Italy, Toronto, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Toronto.
Get the full neighbourhood report (schools, parks, transit & safety) →
The public and Catholic schools this address is zoned for, with EQAO results (the share of students meeting Ontario's provincial standard).
School attendance boundaries and EQAO results are Ontario government data and can change. Confirm the current catchment with the school board before relying on it.
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 3.99% via Ratehub.ca (as of July 22, 2026); conventional rates run a little higher.
Mortgage amount $3,600,000 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $19,211
- Property tax
- $1,235
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $20,446
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $98,975
- Toronto municipal land transfer tax
- $118,975
- Estimated closing costs
- $217,950
Plus your down payment of $900,000. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $1,152,656
- Principal paid down
- $458,461
- Interest paid
- $694,195
- Balance remaining
- $3,141,539
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of RE/MAX REALTRON WENDY ZHENG REALTY. MLS®/PropTx.