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New28 minutes ago

28 Lappin Avenue

Dovercourt-Wallace Emerson-Junction, Toronto

$1,299,900

Detached|3-Storey
6 | 4 | 2
About this home

The Best Things Happen on Lappin! An exceptional opportunity in the heart of Wallace Emerson! This impressive three-storey Fourplex offers nearly 3,000 sq. ft. of total living space across four levels, featuring four self-contained residential units and an abundance of possibilities for investors, end-users and multi-generational families alike. Recently generating a 6.3% Cap Rate with $93,480 in annual gross rental income, demonstrating the property's impressive income-producing potential. Thoughtfully configured with a spacious two-bedroom main-floor suite, a two-bedroom second-floor suite, a one-bedroom plus den third-floor suite and a two-bedroom lower-level suite. Each unit offers its own distinct living space and outdoor area, while four separate hydro meters provide added convenience and flexibility for ownership and rental management. The property is well maintained and offers an increasingly rare opportunity with three of the four units currently vacant. Set your own rents, select your own tenants, occupy one unit while generating income from the others, or explore the potential to reconfigure the existing layout to create a larger personal living space. The possibilities are numerous! Additional highlights include a newer roof(2025), two desirable laneway parking spaces and potential future laneway suite opportunities. The property backs directly onto the exciting new Galleria development, with planned green space and an abundance of new community amenities right at your doorstep. An outstanding location just minutes to the Bloor subway, UP Express, Wallace Emerson Community Centre and the ever-popular Geary Avenue, known for its vibrant collection of restaurants, cafes, breweries and creative spaces. Enjoy convenient access to transit, parks, shopping and everything this evolving west-end neighbourhood has to offer. Four units. Multiple opportunities. One exceptional address. Don't miss your chance to make something special happen on Lappin!

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
Style3-Storey
Approx. Age100+
Size2000-2500 sq. ft.
Property Tax$5,890
Lot Size18 ft x 118 ft
mls© NumberW14168596
Listed ByREMAX YOUR COMMUNITY REALTY

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Schools

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$6,653
Property tax
$491
Heat allowance
$150
Housing costs
$7,294 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $259,980
25-yr amortization

Income needed

$224,000

gross annual household income

Payment at 4%
$5,470 / mo
Cash down
$259,980

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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