3047 Islington Ave, Toronto W05

$969,900

For sale: Other

Property type

Store W Apt/Office

MLS®

MLS® W13631748

Neighbourhood

Humber Summit

Rare mixed-use investment opportunity on the Islington Avenue corridor! Well-maintained commercial/residential property featuring approximately 1,632 sq.ft. above grade, including a street-level retail unit with excellent exposure and a separately accessed renovated 2-bedroom apartment above. The upper unit has been recently updated with new windows, flooring, kitchen, bathroom and fresh paint, while the main floor commercial space offers an excellent opportunity to modernize and increase rental income. Full basement provides additional storage and utility space. Situated on a deep 17.82' x 196.23' CR1-zoned lot, allowing for a variety of commercial and residential uses (buyer to verify permitted uses). Located on a high-traffic corridor with TTC at the doorstep and quick access to Highways 401, 407 and 427. An ideal opportunity for investors seeking long-term appreciation or owner-operators looking to operate their business while benefiting from residential rental income. Potential to improve cash flow through rental optimization, with projected returns approaching a 5% capitalization rate based on market rents and purchaser's own due diligence.