197 PALMER AVENUE
Cornerstone · N2G3P7
$839,900
About this residence
Don’t miss this exceptional opportunity to own a cash-flowing, fully updated legal triplex in the heart of the city. Perfect for the savvy investor or owner-occupant, this property offers impressive income potential with top-to-bottom renovations. The main floor and upper unit are currently vacant, freshly painted, and ready for immediate possession. The lower unit is tenanted, providing instant income. This property has been meticulously upgraded with a modern metal roof, new windows and doors, and updated electrical and plumbing systems meeting today’s standards. Inside, each suite features stylish new flooring, contemporary bathroom finishes, private entrances, and in-suite laundry for ultimate tenant appeal. Outdoor spaces include spacious verandas and balconies, perfect for enjoying morning coffee or evening sunsets. Move-in ready and designed to attract high-quality tenants, this triplex combines modern convenience, classic charm, and strong income potential. Whether you’re looking to expand your portfolio or move into one unit and rent out the others, this is a turnkey investment you won’t want to miss! (id:61366)
Property details
- Property type
- Multi-family
- Style
- Triplex
- Ownership
- Freehold
- Bedrooms
- 3
- Bathrooms
- 3
- Storeys
- 2
- Living area
- 1,846 sq ft
- Frontage
- 40 feet
- Parking
- 3 spaces
- Year built
- 1912
- Annual tax
- $4,111
- MLS®
- 40795670
- Board
- Cornerstone
- Status
- Inactive
- Listed
- Jan 5, 2026
- Updated
- Jan 5, 2026
Features & finishes
Heating
- Forced air
- Natural gas
Cooling
- Central air conditioning
- Wall unit
Basement
- Full
- Finished
Exterior
- Brick
- Vinyl siding
Sewer & Utilities
- Municipal sewage system
Financing
Estimated monthly payment
$3,928/mo
Loan amount
$671,920
Down payment
$167,980
Estimate only. Rates and terms vary by lender and qualification.
Powered by Lenderoo.caLocation & area
Cornerstone
Nearby
About the area
Census · N2G- 14,580
- Population
- 38
- Median age
- $62,400
- Median income
- $500,000
- Median home value
- 31%
- Home ownership
- 24 min
- Avg. commute
Age distribution
Tenure
Neighbourhood statistics for the property’s forward sortation area. Figures are census-derived estimates.
Powered by Neighbourly.ioFrequently asked questions
What is the asking price for 197 PALMER AVENUE?
197 PALMER AVENUE is listed for $839,900, in Cornerstone.
How many bedrooms and bathrooms does 197 PALMER AVENUE have?
It offers 3 bedrooms and 3 bathrooms.
What type of home is 197 PALMER AVENUE?
197 PALMER AVENUE is a Multi-family, Triplex set over 2 storeys, built in 1912.
How large is 197 PALMER AVENUE?
The home offers approximately 1,846 sq ft of living space.
What would the monthly mortgage payment be?
With a 20% down payment at a 5.0% interest rate over a 25-year amortization, the estimated monthly payment is about $3,928. Use the mortgage calculator above to model your own scenario.
What are the annual property taxes?
Property taxes are approximately $4,111 per year.
Is there parking?
Yes — 197 PALMER AVENUE includes 3 parking spaces.
What is the Cornerstone area like?
Cornerstone has a population of about 14,580, a median age of 38, a 31% home-ownership rate, with an average commute of about 24 minutes.
What is the average home value in Cornerstone?
The median dwelling value in this area is approximately $500,000, based on census data via Neighbourly.
What is the median household income in Cornerstone?
The median household income in this area is approximately $62,400.
Private viewings
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