587 Danforth Road
Toronto E04, ON
- 10 bed
- 6 bath
- approx. 3500-5000 sqft
- Multiplex
User/Investment Opportunity: Meticulously Maintained Multi-Plex in Desired corner Location. This property boasts an unbeatable location, with a TTC bus stop steps from your doorstep and close proximity to all amenities and downtown, offering immense appeal to tenants. The building features six residential units, comprising four 2-bedroom units and two 1-bedroom units. Each unit benefits from two separate access points, enhancing privacy and convenience. All units are currently occupied by month-to-month tenants, providing immediate income and flexibility for future strategies. Each unit includes a 3-piece washroom. A shared coin laundry facility adds an attractive amenity for residents and an additional income stream for the owner. Equipped with two furnaces with humidifiers (approx. 10 years old), four owned gas hot water tanks, two separate gas meters and separate hydro meters for each unit. Roof is approximately 12 years old. Some units are equipped with portable window air conditioning units. Ample exterior parking and 4-car detached garage. This property presents a compelling investment with an estimated annual gross income of $100,414.80 and an estimated annual expense of $27,553.00, with and estimated Net Operating Income (NOI) of 72,861.80.
Listing Details
- Taxes (2025)
- $9,275
- Originally Listed
- $1,650,000
- Listed
- May 29, 2026
Price History
Property
- Style
- 2-Storey
- Construction
- Brick
- Roof
- Asphalt Shingle
- Foundation
- Block, Brick
- Interior
- None
- Lot Size
- 107.13 x 130 Feet
Parking
- Garage
- Detached
- Covered Spaces
- 4
- Total Parking
- 19
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- St. Clair Ave E & Kennedy Rd
- Zoning
- RS(f12.0;a510)(x56)
- Parcel Number
- 064410418
- Possession
- 30-59 days
- Occupancy
- Tenant
Included
- Inclusions
- Two Furnaces with humidifier-10 yrs old approx; Four (4) gas Hot water tank (owned); Two gas meters; 1 Coin Washer & 1 Coin Dryer; Separate hydro meters; Roof -12 yrs old (approx); All electric light fixtures (not belonging to Tenant) 6 fridges, 6 stoves.
Schools
Elementary
- J G Workman Public School0.6 km
Public · Toronto DSB · 180 students
Grade 3 reading: 68% met the provincial standard · Grade 6 math: 19% met the provincial standard
- Danforth Gardens Public School0.8 km
Public · Toronto DSB · 530 students
Grade 3 reading: 73% met the provincial standard · Grade 6 math: 40% met the provincial standard
- Norman Cook Junior Public School0.9 km
Public · Toronto DSB · 180 students
Grade 3 reading: 61% met the provincial standard · Grade 6 math: 57% met the provincial standard
Secondary
- Birchmount Park Collegiate Institute1.6 km
Public · Toronto DSB · 905 students
Grade 10 literacy: 72% met the provincial standard
- St John Henry Newman Catholic High School1.9 km
Catholic · Toronto CDSB · 915 students
Grade 10 literacy: 81% met the provincial standard
- Scarborough Centre for Alternative Studi1.9 km
Public · Toronto DSB · 365 students
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area M1K
- Population
- 48,175
- Private dwellings
- 18,687
- Median age
- 40.4
- Average household size
- 2.7
- Median household income
- $72,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Residential Freehold in Toronto E04 · last 12 months
- Median sold price
- $815,000
- Homes sold
- 628
- Median days on market
- 20
- Sale-to-list price
- 99.2%
Based on 628 recorded sales of residential freehold properties in Toronto E04 over the last 12 months.
Listed by
CBRE LIMITED
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Mortgage Calculator
$310,000
Estimated Monthly Payment
$7,615
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $7,615/mo (20% down, 5.5%)
Taxes: $773/mo · Insurance: $388/mo
Estimates only. Consult a financial advisor.
Reita | Assistant
Online
Reita is an automated assistant, not a licensed real estate agent. I can help you explore neighbourhoods, understand the market, and find our free tools. What are you looking for?