West Centre Town K1R 6R6

Property

Ownership: For Sale
Type: Unknown
Bedrooms: Studio
Pets: Pets No

Financials

Price:C2,100,000
($1,522,962)
(€1,295,708)
Annual Taxes:C39,105.73
505 Park Ave, New York, NY 10022

Description

Incredible Investment Opportunity in the Heart of Chinatown! Located on bustling Somerset Street West, this traditional Main Street-zoned property offers excellent passive income potential with a projected annual income of $120,000. A long-standing, well-known restaurant tenant occupies one side of the building under a triple net lease, covering all utilities and minimizing owner expenses.The adjacent unit is currently vacant and presents an exceptional opportunity potentially renting for up to $6,900/month. Ideal for an owner-occupier or an investor looking to maximize returns, this space is perfect for a wide range of uses. Major capital improvements already completed: the property features a brand new roof (2025) valued at $63,000, offering peace of mind and long-term savings on maintenance. Zoning permits restaurant or other commercial operations or redevelopment for multi-unit residential, offering flexibility and long-term growth. Property Highlights: High visibility with large street-facing windows, 5 dedicated parking spaces for tenants, prime location with a bus stop right at the door, surrounded by vibrant local businesses and community amenities. Don't miss your chance to own a versatile, income-generating property in one of the city's most dynamic neighbourhoods.

Amenities

  • Available

Incredible Investment Opportunity in the Heart of Chinatown !


    All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

    All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.