894 Queen St E 2 Unit Apartment Building $2,750,000 CAD ($1,375,000 CAD/Unit) Toronto, ON M4M 1J3

894 Queen Street East presents an opportunity to acquire a mixed-use investment property in Toronto's Leslieville neighbourhood, one of the city's most established urban retail corridors. Located along Queen Street East in South Riverdale, the property benefits from continuous pedestrian activity, a diverse mix of independent retailers, restaurants, service businesses, and growing residential density that supports long-term commercial demand.
The asset consists of a street-level commercial space and two full-floor residential apartments above, creating multiple income streams within a single property. The commercial unit occupies a prominent Queen Street East frontage and is leased to an established restaurant tenant under a long-term arrangement. The residential component includes two expansive walk-up apartments featuring bright layouts and high ceilings, providing continued rental income and future leasing flexibility.
The current ownership has completed significant capital improvements, including a complete roof replacement and new skylights in May 2023, a new air conditioning system in August 2023, and a new boiler in September 2024. Rear lane access provides operational convenience for loading and parking, a feature that is increasingly difficult to secure along Toronto's traditional main street corridors.
The property's location near Jimmie Simpson Park and the future Ontario Line transit expansion places it within an area benefiting from ongoing public infrastructure investment and neighbourhood evolution. Combining established tenancy, residential income, recent building improvements, and a highly visible Queen Street East location, the property offers investors a balanced opportunity for current income generation and long-term value growth.