473 Vernon Avenue, Overbrook - Castleheights and Area, ON K1K 1A8
Overbrook - Castleheights and Area
Well-maintained triplex on an oversized lot with over 84 ft of frontage, offering a rare opportunity to blend immediate cash flow, owner-occupancy potential, and long-term redevelopment upside. The property generates $48,192 annually with a net operating income of $31,582, featuring a spacious upper-level 3-bedroom unit ideal for an owner-occupant, complemented by two lower-level studio apartments to help offset carrying costs. Unit 1 and Unit 2 are currently on month-to-month leases, while Unit 3 is leased until July 31, 2026. This property has been meticulously maintained by long-term ownership, with clear pride of care throughout and very little deferred maintenance, allowing a new owner to step in and operate with confidence and minimal immediate capital requirements. Major capital improvements include a new roof (2014), driveway expansion and repaving, landscaping and regrading, masonry repairs, and a PVC privacy fence. For investors, this is a balanced asset with solid in-place income and clear upside. For end users, it presents a unique opportunity to live in a larger unit while generating meaningful rental income. The 84 ft frontage further enhances the property with strong future potential for redevelopment, severance, or expansion, making this a versatile acquisition in a market where opportunities like this are increasingly rare.
Estimate only - excludes property tax, condo fees, utilities and home insurance. Rates vary by lender and term; based on semi-annual compounding.
Walkability, transit, and bike-friendliness for 473 Vernon Avenue, Overbrook - Castleheights and Area, ON K1K 1A8
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MLS# X13050852
Listed by SLEEPWELL REALTY GROUP LTD
On market since Apr 28, 2026
What comparable homes actually sold for in the last 12 months.
473 Vernon Avenue, Overbrook - Castleheights and Area, ON K1K 1A8 is listed for $798,500 CAD.
473 Vernon Avenue, Overbrook - Castleheights and Area, ON K1K 1A8 has 5 bedrooms and 3 bathrooms.
473 Vernon Avenue, Overbrook - Castleheights and Area, ON K1K 1A8 is a Triplex.
473 Vernon Avenue, Overbrook - Castleheights and Area, ON K1K 1A8 is in Overbrook - Castleheights and Area, Ontario.
473 Vernon Avenue, Overbrook - Castleheights and Area, ON K1K 1A8 is currently for sale.
Contact Alex Morgan at +16471112222 to arrange a private showing of 473 Vernon Avenue, Overbrook - Castleheights and Area, ON K1K 1A8 (MLS# X13050852). You can also send a message through the contact form on this site.
