The main building near Dufferin Street in Toronto was gutted and refurbished as a fourplex in 2019.Photography provided by Harvey Kalles Real Estate Ltd.
31 Alma Ave., Toronto
Asking price: $2,795,000 (March, 2026)
Selling price: $2.55-million (March, 2026)
Previous selling prices: $1.2-million (April, 2017); $460,000 (August, 2002)
Taxes: $11,643 (2025)
Days on the market: 21
Listing agents: Robert Greenberg and Amir Kiabi, Harvey Kalles Real Estate Ltd.
The action
This fiveplex siding onto busy Dufferin Street was purchased within three weeks of listing on the strength of two eye-catching numbers, said agent Amir Kiabi: an annual gross income of $170,000, and a list price under $2.8-million.
“Pricing it accurately was a major contributing factor to finding a buyer fast,” Mr. Kiabi said.
In the past year, only 32 multiplex properties were sold between $2-million and $3-million in Toronto, and they took an average of 62 days to sell, he said.
A kitchen in one of the four units in the main building.
“Some properties are listed, but when they don’t sell, they’re taken off the market and relisted later. I’m not even factoring that in.”
The building was gutted and refurbished as a fourplex in 2019. A three-car garage was later converted into a one-bedroom garden suite on the 23- by 120-foot corner lot. All five units currently have tenants.
“It was above average in terms of quality, which helps because you can rent it faster,” Mr. Kiabi said.
What they got
The garden suite and four units in the main building all have a kitchen and open-concept living and dining areas, in addition to laundry machines and at least one bathroom.
There are two one-bedroom units on the first level of the main house. The second floor has a three-bedroom unit with two bathrooms. The basement has a two-bedroom unit.
A three-car garage has been converted into a one-bedroom garden suite.
The agent’s take
“This property had no parking, but the laneway suite was getting about $2,600 in monthly income,” Mr. Kiabi said.
“But this is near Dufferin and Queen [streets], and a lot of people use public transportation.”