A detached century home in Toronto's High Park neighbourhood has hit the market configured as a multi-unit income property, according to a Storeys listing. The property at 9 Fairview Avenue is listed at C$2,199,900 and is currently arranged as three self-contained units, with the main floor as an updated owner-occupied suite and separate apartments above and in the basement.
For investors, this is the kind of product that does two things at once: it generates rent from day one, and it leaves the door open to repurpose the building later.
- Listed at C$2,199,900 on a 30-ft by 120-ft lot in High Park.
- Approximately 2,000-2,500 sq. Ft. Of finished space across three self-contained units.
- Four-plus bedrooms and three bathrooms in total.
- Main floor set up for owner-occupiers; upper floors and basement as rentals.
- Detached double garage, with one bay finished as flex space.
- Walking distance to High Park, TTC subway, Bloor West Village and The Junction.
The angle: live-in or income, your call
Toronto's west-end detached stock rarely offers this much flexibility. Period character, including stained glass, wood trim and exposed brick, has been preserved, while the mechanicals and living spaces have been refreshed. That combination, heritage detail without a renovation headache, is what makes the listing work for two distinct buyer profiles.
The first is the end user who wants a single-family home but values the optionality. They can live in the main-floor suite, use rental income from the other units to offset carrying costs, and at some point convert back to a single residence when the household needs the space. The second is the investor who never intends to occupy it and wants established rental income from a location that does not require any convincing on the demand side.
Our analysis
What matters here, beyond the finishes, is the dual-use structure. In a market where most detached homes are sold as either pure residential product or pure investment, the triplex format tends to compress days on market because it widens the buyer pool. The trade-off is operational: three units mean three sets of tenants, three leases, and the administrative load that goes with small multi-family.
For investors, the key underwriting question is whether the rental income genuinely covers carrying costs after vacancy, maintenance and property management. With a near-C$2.2M basis, even strong in-fill rents in Bloor West will not deliver the kind of yield a pure income buyer would accept. The thesis has to lean on optionality, capital appreciation in a constrained west-end pocket, and the ability to repurpose the asset on a multi-year horizon.
A worked example
Say you are a professional couple buying a primary residence but want to defray the mortgage. You occupy the main-floor suite, lease the upper and basement apartments at market, and use the finished garage bay as a home office or studio. Because the home is already plumbed and tenanted, you start collecting rent from closing day rather than waiting out a renovation. The practical test is simple: does the rent meaningfully dent the monthly bill? If yes, you have a residence that pays you to live in it. If not, you still hold an asset that can revert to a single-family home in a neighbourhood where detached stock at this size is scarce.
Bottom line
Treat the listing as a flexible-use asset, not a pure yield play. The combination of an established triplex configuration, period character, and a High Park address will appeal to owner-occupiers first and yield-driven investors second. Expect pricing to reflect that premium.
Key takeaways
- The property offers genuine dual-use flexibility: live-in now, rent the rest, convert later if needed.
- Rental income alone is unlikely to deliver institutional-style cap rates; the value is in optionality and location.
- Period character plus updated systems is a rare combination in older Toronto stock.
- Investors should underwrite on a multi-year hold, not on rent-cover in the first year.
Frequently asked questions
How much is the 9 Fairview Avenue property listed for?
C$2,199,900, with three self-contained units on a 30-ft by 120-ft lot, according to the Storeys listing.
Can the property be used as a single-family home?
Yes. The main floor is set up as an owner-occupied suite, and the building can be restored to single-family use if the new owner prefers.
What is the rental setup?
The main floor is owner-occupied, with separate rental apartments on the second and third floors and in the basement, providing established income.
Where is the property located?
Just south of Annette Street in High Park, within walking distance of High Park, TTC subway service, Bloor West Village and The Junction.
