MLS® listing
173-175 Madison Avenue: multiplex for sale
$5,999,000
From the listing brokerage
Rare Investment Opportunity in the Annex - Two semi-detached homes offered together and thoughtfully converted into a substantial 3.5-storey, 7-unit multiplex. The property comprises one spacious 3-bedroom, 3-bathroom suite and six well-appointed 2-bedroom, 2-bathroom suites, each featuring ensuite laundry. Hydro and gas are separately metered, providing operational efficiency and convenience. Featuring tall ceilings and exceptional scale, the combined buildings form one of the largest residential structures in the Annex. Situated at the end of a laneway, the property offers the rare advantage of 7 on-site parking spaces. Stable rental income, presenting an attractive opportunity for investors. Alternatively, its remarkable size and configuration offer future potential for conversion into an extraordinary single-family residence. As a designated heritage property, ownership may be eligible for reduced property taxes and municipal financial assistance programs that support the preservation and maintenance of the building's exterior.
Facts on the listing
| Square feet | 3500-5000 |
|---|---|
| Style | 3-Storey |
| Basement | Apartment |
| Lot width | 49.21 |
| Lot depth | 126 |
| Lot measured in | Feet |
| Faces | East |
| Parking spaces | 7 |
| Garage | None |
| Heating | Forced Air |
| Cooling | Central Air |
| Kitchens | 7 |
| Property tax | $22,003 |
| Tax year | 2026 |
| Interior features | Other |
Listing courtesy of RIGHT AT HOME REALTY. MLS® C13458602.
About this multiplex
173-175 Madison Avenue is a 14 bedroom multiplex in TRREB's Annex community in Toronto, listed for sale at $5,999,000. The listing shows 15 bathrooms and 3500-5000 square feet. The style is given as 3-storey. The lot is listed as 49.21 by 126 feet. The listing gives the basement as apartment. It comes with 7 parking spaces according to the listing. The nearest main intersection given is spadina and dupont.
These details come from the listing brokerage through TRREB's MLS® System. Room sizes, the lot, the taxes and what is included in the sale should all be confirmed before an offer is firm.
What it costs to buy 173-175 Madison Avenue
At the asking price of $5,999,000, a buyer pays two land transfer taxes on closing: the Ontario tax and the City of Toronto's municipal tax. Both apply to every home inside the City.
| Asking price | $5,999,000 |
|---|---|
| Ontario land transfer tax | $136,450 |
| Toronto municipal land transfer tax | $224,910 |
| Both taxes | $361,360 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $1,199,800 |
The down payment figure is the federal minimum: 20 percent, because a home at $1.5 million or more cannot carry mortgage default insurance. A lender can ask for more. These figures use the asking price, so they change if you pay more or less. The rates above $2,000,000 used here are the ones for a home with one or two single family residences. A property with more units is taxed differently. Legal fees, title insurance and adjustments are extra: ask your lawyer for a written quote. This is general information, not legal or tax advice. Confirm the figures with a lawyer or accountant. You can change the price in our land transfer tax calculator and our mortgage calculator.
What it costs to own each month
| Property tax (2026) | $22,003 a year, about $1,834 a month |
|---|
That is before a mortgage payment, home insurance and utilities. The listing shows no monthly maintenance fee, so upkeep of the building and the lot is the owner's own cost.
What to check before you make an offer
- Book a home inspection. An inspector looks at the roof, foundation, wiring, plumbing and heating. The listing gives the heating as forced air.
- Have a lawyer search the title. A title search shows mortgages, liens and easements registered against the property. Ask whether a survey exists and whether it matches the lot on the listing, 49.21 by 126 feet.
- Ask about permits. Ask which renovations had building permits and whether those permits were closed. The listing shows 7 kitchens. If there is a second unit, ask whether it meets the municipality's rules for one.
- Confirm what is included. Appliances, light fixtures and window coverings are included only if the agreement says so. Ask whether the water heater or furnace is rented.
- Get your financing in writing. A lender looks at the property tax and heating costs as well as the price.
- See it in person. Photos do not show noise, light at different hours or the state of the street and the homes beside it.
Our first-time home buyer guide and our page for buyers walk through each step. This is general information, not legal advice. Confirm the details with a lawyer.
About The Annex
Heritage districts, apartment buildings along Bloor Street and two subway lines meeting at Spadina and St George. The Annex sells more condo apartments than houses by a wide margin.
Transit: Spadina and St George stations (Line 1 and Line 2), Bathurst and Bay stations (Line 2), Dupont station (Line 1), 510 Spadina and 511 Bathurst streetcars, 26 Dupont bus
| Property type | Median | Sales and average |
|---|---|---|
| All property types | $1,240,000 | 133 sales, average $1,660,517 |
| Detached | About $1,950,000 | 8 sales, average about $2,882,000 |
| Semi-detached | About $1,725,000 | 27 sales, average about $2,056,000 |
| Freehold townhouse (TRREB att/row/townhouse) | About $1,825,000 | 9 sales, average about $1,796,000 |
| Condo townhouse | About $1,260,000 | 7 sales, average about $1,649,000 |
| Condo apartment | About $858,000 | 82 sales, average about $1,397,000 |
Source: TRREB community housing market reports, as set out in the guide.
Questions about The Annex
What did homes sell for in The Annex in spring 2026?
TRREB recorded 133 sales from April to June 2026 with a median of $1,240,000 and an average of $1,660,517 across all property types. Condo apartments were 82 of those sales, with a median of about $858,000.
Is The Annex a good place to live if you want to use the subway?
For subway access it is well placed, with Spadina and St George stations serving both Line 1 and Line 2, plus Bathurst, Bay and Dupont stations at its edges. From Spadina station, Union station is 7 stops on Line 1.
Are there heritage rules on houses in The Annex?
Parts of it are in Heritage Conservation Districts, including East Annex (1994) and West Annex Phase 1 on Madison Avenue, with West Annex Phase II in development. Check with the City whether a specific address is inside a district before planning exterior changes.
Are most homes in The Annex houses or apartments?
Apartments. In the 2021 Census 54.5% of the 16,325 private dwellings were in buildings of five or more storeys and 27.8% in buildings under five storeys, while single-detached houses were 3.8%.
Where is the library in The Annex?
The Toronto Public Library Spadina Road branch is at 10 Spadina Road. The Toronto Reference Library at 789 Yonge Street is to the east.
Read the The Annex neighbourhood guide · All The Annex homes for sale
Similar homes for sale in The Annex
$2,100,000112 Albany Avenue, Toronto, ON M5R 3C45 bedrooms · 5 bathrooms · Semi-DetachedListed by WRIGHT REAL ESTATE LTD.. MLS® C13871128
$2,725,00041 Chicora Avenue, Toronto, ON M5R 1T75 bedrooms · 3 bathrooms · Semi-DetachedListed by SAGE REAL ESTATE LIMITED. MLS® C13865362
$5,395,00081 Macpherson Avenue, Toronto, ON M5R 1W75 bedrooms · 4 bathrooms · DetachedListed by RE/MAX HALLMARK REALTY LTD.. MLS® C13840266
$4,495,00028 Roxborough Street W, Toronto, ON M5R 1T85 bedrooms · 4 bathrooms · Semi-DetachedListed by ROYAL LEPAGE REAL ESTATE SERVICES OXLEY REAL ESTAT. MLS® C13718004
$4,195,00036 Macpherson Avenue, Toronto, ON M5R 1W85 bedrooms · 4 bathrooms · Semi-DetachedListed by SAGE REAL ESTATE LIMITED. MLS® C13807758
$5,995,00079 Hazelton Avenue, Toronto, ON M5R 2E35 bedrooms · 5 bathrooms · Att/Row/TownhouseListed by CHESTNUT PARK REAL ESTATE LIMITED. MLS® C13812422
Questions about 173-175 Madison Avenue
How much is land transfer tax on 173-175 Madison Avenue?
At the asking price of $5,999,000 the Ontario tax is $136,450 and the Toronto tax is $224,910, $361,360 in total. A first-time buyer who qualifies can get up to $8,475 back. Confirm the final figures with your lawyer.
What is the minimum down payment for 173-175 Madison Avenue?
$1,199,800 at the asking price of $5,999,000, under the federal minimum down payment rules. A lender may require more.
How much is the property tax on 173-175 Madison Avenue?
The listing shows $22,003 a year for 2026, about $1,834 a month.
How do I book a showing for 173-175 Madison Avenue?
Use the form on this page or call us. Quote MLS® C13458602. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 173-175 Madison Avenue still for sale?
This page is refreshed from TRREB's MLS® System through the day. If the listing sells or is withdrawn the page says so. Contact us to confirm before you make plans.
The listing data is provided under copyright by the Toronto Regional Real Estate Board (TRREB). The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose. The data is deemed reliable but is not guaranteed accurate by TRREB or PropTx. Each listing shows the brokerage that listed it. Listings are updated every few minutes.
REALTOR®, REALTORS® and the REALTOR® logo are certification marks owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). MLS®, Multiple Listing Service® and the associated logos are trademarks owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.