261 Grace Street

ActiveDowntown Toronto / Waterfront · Palmerston-Little Italy2 days on marketMLS® C14096636

$1,499,999

$1,000 / sq ft

Bedrooms5

Bathrooms3

Interior1,500 sq ft

TypeMulti-Family

ListingFor Sale

Days on Market2

About this property

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.

Features & finishes

Air Conditioning

Basement

Property details

MLS® Number	C14096636
Status	Active
Listing Type	For Sale
Property Type	Multi-Family
Interior Size	1,500 sq ft
Beds / Baths	5 bed · 3 bath
Property Taxes (2025)	$7,021
Neighbourhood	Palmerston-Little Italy
City	Downtown Toronto / Waterfront
Postal Code	M6G 3A7
Province	ON
Listed Date	October 20, 2026
Days on Market	2
Price per Sq Ft	$1,000
Brokerage	RIGHT AT HOME REALTY