261 Grace Street

Palmerston-Little Italy, Toronto, M6G 3A7

$1,499,999

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  • 4+1 bedrooms
  • 3 bathrooms
  • 2 parking
  • 1500-2000 sq ft

Listed today · MLS® C14096636

About this home

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.

Details

Type
Triplex
Style
2 1/2 Storey
Size
1500-2000 sq ft
Lot
17.58 × 105 ft
Basement
Apartment
Garage
Detached
Kitchens
3
Property tax
$7,021 (2025)
Neighbourhood
Palmerston-Little Italy
Municipality
Toronto C01

Interior

Bedrooms
4 above ground + 1 below
Bathrooms
1 × 3-piece (main), 1 × 3-piece (second), 1 × 3-piece (basement)
Kitchens
3 (1 below ground)
Rooms
9 above ground
Family room or den
No
Fireplace
No
Features
Water Heater

Heating, cooling and services

Heating
Forced Air, Gas
Air conditioning
Central Air, Window Unit(s)
Water and sewer
Sewer

Building and exterior

Style
2 1/2 Storey
Exterior
Brick
Roof
Asphalt Shingle
Foundation
Brick, Block, Concrete
Faces
West

Parking

Garage spaces
2
Total parking
2

Lot

Size
17.58 × 105 ft

More

Possession
Flexible
Cross street
College & Grace

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Very walkable

  • 🚇 Christie Subway10 min walk
  • 🚇 Ossington Subway14 min walk
  • 🚆 Exhibition GO2.5 km

Within a 10-minute walk: 12 grocery stores, 232 cafés and restaurants, 17 parks, 17 pharmacies. Nearest grocery: College Fruit Market (350 m). Nearest park: Art Eggleton Park (150 m).

Schools nearby

Elementary

  • Montrose Junior Public School
    EQAO: Gr 6 reading 100%, math 70%
    2 min walk
  • Clinton Street Junior Public School
    EQAO: Gr 6 reading 96%, math 84%
    3 min walk
  • St. Francis of Assisi Catholic School Catholic
    EQAO: Gr 6 reading 90%, math 60%
    4 min walk
  • Dewson Street Junior Public School
    EQAO: Gr 6 reading 89%, math 60%
    10 min walk

Secondary

  • Delta Senior Alternative School3 min walk
  • Harbord Collegiate Institute
    EQAO: Gr 9 math 77%, literacy test 93%
    6 min walk
  • Horizon Alternative Senior School7 min walk

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area M6G

Owners / renters
49% / 51%
Median household income
$91,000
Average age
43
Children under 15
12%
Homes
13% detached, 8% high-rise
Commute by transit
25%
Population
30,600

Languages spoken most at home besides English: Portuguese 3.2%, Yue (Cantonese) 2.6%, Italian 1.6%, Greek 1.2%.

Flood and conservation No mapped hazard

Not inside a mapped flood plain or regulated area.

Screening maps only. Ask the conservation authority for a property inquiry before relying on this.

Safety

Major crime per resident in Palmerston-Little Italy (2025): about the Toronto average, up 15% from the year before.

  • Assaultabout average
  • Break and enter35% above average
  • Auto theft49% below average
  • Robbery45% above average
  • Theft from vehicles33% below average
  • Shootingsabout average

Crime Severity Index for Toronto police: 60 vs 57 for Ontario (2025).

Police-reported figures for the whole neighbourhood, not this street. Rates use the area’s resident population.

Development nearby

No planning applications within 500 m in the last five years.

Rezoning, site plan, subdivision and condominium applications filed with the city.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Neighbourhood crime: Toronto Police Service Public Safety Data Portal (Open Government Licence – Toronto Police Service). Crime Severity Index: Statistics Canada. Planning applications: City of Toronto open data.

Living here

Commute

To Union Station (downtown Toronto): 3 km. Transit times · Driving times

Coming transit

  • 🚧 Chinatown 1.9 km
  • 🚧 King West GO Transit2.0 km

Stations under construction or approved. Opening dates are the latest public estimates and often move.

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

What can be built R

Residential (with a site-specific exception).

  • ✅ Up to 6 homes on the lot (multiplex): a sixplex ward
  • ✅ Garden suite in the backyard
  • ✅ Laneway suite, if the lot backs onto a lane

From Toronto’s Zoning By-law 569-2013 map. Lot size, setbacks and trees decide what actually fits; check with a planner before you buy.

Full lot check · Run the numbers

Building permits

No building permits at this address since 2014.

14 permits on this block of the street in the last 2 years.

Permits filed with the City of Toronto. A permit doesn’t mean the work passed final inspection.

Trees

63 City street trees within 100 m, mostly maples. That’s more than the Toronto average of 42.

Trees on City boulevards only, not private yards or parks.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Short-term rentals

Only in your principal residence (where you live). The entire home can be rented up to 180 nights a year; renting up to 3 bedrooms while you live there has no limit. Hosts register with the City and collect the 6% accommodation tax.

City rules

Zoning, heritage, building permits and street trees: City of Toronto open data (Open Government Licence – Toronto). Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by RIGHT AT HOME REALTY.

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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