261 Grace Street, Toronto, ON

Toronto, Central Toronto, Palmerston-Little Italy Hood
College & Grace
4+1 Br | 3 Bath | 1500-2000 Sqft
$1,499,999 For Sale

Property Overview

  • Triplex — 2 1/2 Storey
  • SqFt: | 1500-2000 Sqft
  • Lot Size: 17.58 x 105.00 Feet
  • Age: n/a
  • Basement: Apartment
  • Exterior: Brick
  • Taxes: 7,021 / 2025
  • Zoning: n/a
  • MLS #: C14096636
  • Sewer: Sewer
  • Heat Source: Gas , Forced Air

Property Description

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.

Property Details

  • For: For Sale
  • Type: Triplex
  • Style: 2 1/2 Storey
  • Lot: 17.58 x 105.00 Feet
  • Region: Toronto
  • Hood: Palmerston-Little Italy
  • Zoning: n/a
  • Lot Irreg: Fronting on: West
  • Fronting On: West

Building Details

  • Age: n/a
  • Exterior: Brick
  • Heat: Gas , Forced Air
  • A/C: Central Air, Window Unit(s)
  • Interior Features: Water Heater
  • Pool: None
  • Sewer: Sewer
  • Garage: Detached
  • Total Parking: 2.00

Property Interior

  • Sqft: 1500-2000 Sqft
  • Bed: 4 +1
  • Bath: 3
  • Kitchen: 2 +1
  • Family Room: No
  • Basement: Apartment
Property Listed by: RIGHT AT HOME REALTY
Virtual Tour: n/a

Home Valuation Estimate

What is 261 Grace Street, Toronto, ON worth in today’s Palmerston-Little Italy, Central Toronto market?

This HomeZira valuation preview helps buyers and sellers think through the asking price for this 4-bedroom Triplex with 1500-2000 sq. ft. in Palmerston-Little Italy, Central Toronto. The full estimate reviews the property’s location, home type, bedroom count, size range, age, and nearby comparable market activity after sign-in.

Property-specific estimate See a valuation range built around this listing’s local profile.
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Location

  • Address: 261 Grace Street
  • Neighborhood: Palmerston-Little Italy
  • Zip/Postal Code: M6G 3A7
  • Nearby Amenities:
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About 261 Grace Street, Toronto, ON M6G 3A7, Central Toronto

Located at 261 Grace Street, Toronto, ON in Central Toronto (Palmerston-Little Italy neighbourhood), near College & Grace. This freehold home offers Triplex, ["2 1\/2 Storey"], 4 bedrooms, 3 bathrooms and 1500-2000 sq.ft. (approx.) in a layout suited to everyday family living. Basement: Apartment • 2 parking spots • Garage: Detached • Heating: Gas Forced Air • Cooling: Central Air, Window Unit(s). Property taxes are approximately $7,021 for 2025. 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, o.

FAQs for 261 Grace Street, Toronto, ON , Palmerston-Little Italy , Central Toronto

What are the listing details for 261 Grace Street, Toronto, ON?
261 Grace Street, Toronto, ON is a Triplex for sale in Central Toronto, in the Palmerston-Little Italy neighbourhood, Toronto. The current list price is $1,499,999. MLS number: C14096636.
How many bedrooms and bathrooms does this home have?
261 Grace Street, Toronto, ON is listed as a Triplex with a ["2 1\/2 Storey"] style, featuring 4+1 bedroom(s) and 3 bathroom(s). The listed interior size range is 1500-2000 sq. ft..
What lot, basement, garage, or parking details are listed?
The lot size is listed as approximately 17.58 x 105.00 Feet. The basement is listed as: Apartment. Garage type: Detached. Total parking: 2 space(s).
What heating, cooling, and exterior details are shown?
Heating is listed as: Gas, Forced Air. Cooling is listed as: Central Air, Window Unit(s). Exterior/construction materials are listed as: Brick.
Where is this property located?
261 Grace Street, Toronto, ON is located in the Palmerston-Little Italy neighbourhood of Central Toronto. The listed cross street is College & Grace.
What information is available on this public listing page?
The public listing page shows current active listing information, property photos, room details when available, map location, listed price, property features, and contact options. Annual taxes are listed as $7,021 / 2025. Valuation tools and similar sold-property previews are available after sign-in where applicable, without displaying sold data in this public FAQ.

FAQ content is based on current active listing fields shown on this page. Sold prices, sold comparables, and VOW-only details are not included in this public FAQ.