261 Grace Street
Palmerston-Little Italy, Toronto, M6G 3A7
$1,499,999
- 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.
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.
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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