1487 Gerrard Street East offers an exceptional mixed-use income property with built-in stability and significant future upside. Located in the vibrant Gerrard India Bazaar and Greenwood-Coxwell corridor, this property features a strong commercial anchor, two expansive multi-level residential apartments, and dedicated rear parking. Crucially, with the adjacent property also available for sale, this site unlocks a rare land assembly opportunity for developers or a forward-thinking investor to assemble a wider, more versatile footprint on a major Toronto arterial road. A combined footprint opens the door to future mid-rise development, comprehensive commercial expansion, or a larger multi-residential build in a city actively pushing for density along established streetcar and transit routes.Currently tenanted by a stable, reliable business, providing predictable, long-term commercial income with an established footprint in the neighbourhood. Unlike standard compact city apartments, the upper levels house two spacious, two-story residential units. Each apartment features a generous two-bedroom, one-bathroom layout, highly appealing to young professionals and families seeking space. The Greenwood-Coxwell and Gerrard East corridor is one of Toronto's most active pockets for urban renewal, community investment, and infrastructure upgrades. The area is positioned to benefit heavily from upcoming transit expansions, including the future Ontario Line which will feature a major transit hub slightly west at Gerrard and Carlaw. The City of Toronto is prioritizing the Gerrard Street East corridor for ongoing revitalization, bringing upgraded streetscapes, pedestrian improvements, and better active transit infrastructure directly to the area. Surrounded by the eclectic dining and retail of the Gerrard India Bazaar, with Leslieville just to the south and the Danforth to the north, the location attracts a steady stream of foot traffic and premium residential tenant demand.
Address
1487 Gerrard Street E
List Price
$1,490,000
MLS® Status
New
Property Type
Commercial
Type of Dwelling
Store W Apt/Office
Transaction Type
Sale
Area
Toronto E01
Sub-Area
Greenwood-Coxwell
Region
Toronto
Lot Size Source
MPAC
Lot Depth
100
Lot Type
Lot
Lot Size Units
Feet
Lot Width
16.73
Parcel Number
210380087
Total Building Area
2800
Occupant Type
Tenant
Cross Street
Gerrard/Coxwell
MLS® Number
E13758290
Listing Brokerage
RE/MAX HALLMARK REALTY LTD.
Basement
Yes
Postal Code
M4L 2A4
Posession Details
Flexible
Parking Spaces
2
Tax Amount
$10,006.00
Tax Year
2025
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heat Type
Gas Forced Air Open
Cooling Features
Partial
Garage Type
None
Security Features
No
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