Century-old St. Clair West apartment building with 20 units hits market for $8.5 million

A three-storey mixed-use building at 781 St. Clair Ave. W. has hit the market for $8,499,000, offering investors an entire apartment complex with commercial tenants rather than a single high-end home.

Originally built around 1920, the building underwent a major renovation with more than $2.7 million in capital improvements in recent years. The boilers were replaced in 2024 and are projected to cut gas bills by 25 per cent. The roof is only five years old, and solar panels provide energy rebates—a rarity on century-old Toronto apartment buildings.

In 2021, a third-floor addition brought four new apartments with 10-foot ceilings and air conditioning. The rest of the building hasn't been neglected either, with 95 per cent of residential units renovated. The 20 apartments include one bachelor, 17 one-bedroom units, one one-bedroom-plus-den, and one two-bedroom unit, with an average residential rent of $1,871 per month—below current averages but with room for market-rate increases as leases turn over.

Downstairs, the building's two commercial spaces are occupied by Krave Coffee and Krave Juice, both on triple net leases running through 2035 with annual rent increases. The businesses currently bring in almost $50,000 in annual rent.

Location is a major asset: the building sits close to St. Clair West Station, giving tenants easy subway access. The property comes with attractive assumable financing for qualifying buyers.