Overview
- Apartment, Retail, Shop, Commercial, Residential
- Property Type
- 4+2
- Bedrooms
- 3
- Bathrooms
- 0
- Garage
- 3859 ft²
- Area Size
Description
Situated at the intersection of College and Grace Streets, 654 College Street presents a rare opportunity to acquire a mixed-use asset in the heart of Little Italy—one of Toronto’s most established and tightly held commercial corridors!
The property comprises three levels above grade with a fully utilized commercial component at grade and basement, and two self-contained residential apartments above. The ground floor and basement, each approximately 1,459 sq. ft., are currently leased on a month-to-month basis at ~$5,300 per month plus TMI, offering immediate income with future flexibility.
The second floor is currently vacant, while the third floor tenant is in the process of relocating, creating a unique opportunity for an end-user or investor to reposition both residential units. Each apartment spans approximately 1,200 sq. ft., with comparable renovated units in the area achieving rental rates in excess of $3,500 per month.
Positioned within a high-foot-traffic stretch of College Street, the property benefits from exceptional visibility, steady pedestrian flow, and a vibrant mix of established local businesses, restaurants, and cultural destinations. The surrounding neighbourhood continues to demonstrate long-term stability, making it a reliable location for both commercial and residential tenancies.
Held by the same family for over 50 years, this is the first time the property has been made available in decades—a testament to both the strength of the location and the long-term value it offers.
The vendor is open to providing a Vendor Take-Back (VTB) mortgage for qualified buyers, offering potential flexibility in financing and lowering barriers to entry in a market where conventional lending conditions can be restrictive.
Whether approached as a value-add investment, an end-user opportunity, or a live-work scenario, 654 College Street offers a rare combination of location, scale, and income potential in one of Toronto’s most enduring neighbourhoods.
Details
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Price $2,225,000
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Property Size 3859 ft²
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Land Area 19 x 110 ft
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Bedrooms 4+2
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Bathrooms 3
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Rooms 14
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Property Status For Sale
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Property Type Apartment, Retail, Shop, Commercial, Residential
Additional details
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Comparable rental rates (apartments) $3500 ea
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Commercial tenancy ~$5300 + TMI
Mortgage Calculator
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