Fourteen-unit Toronto loft building dropped asking price by more than $2M

Back in 2023, a quirky collection of 14 loft studios in Toronto's west end hit the market for $8,885,000. In 2026, it is for sale for a whole lot less.

Three years later, after apparently failing to find a buyer willing to spend nearly $9 million on the package deal, the entire building is back on the market with a dramatically lower asking price.

The property at 2480 Dundas St. W. is now listed for $5,985,000.

One of the units. 

For anyone keeping score at home, that's a price cut of $2.9 million. Or put another way, the seller has shaved roughly 33 per cent off the original asking price.

A bedroom with exposed brick and an industrial sliding door. 

And honestly? That's a pretty substantial discount by Toronto real estate standards.

Another large loft unit. 

When blogTO first covered the property in 2023, the listing was being marketed as an unusual opportunity to buy 14 individual loft studios in one shot, effectively paying an average of about $635,000 per unit.

Original hardwood floors and exposed brick walls add character. 

At the time, the appeal was less about luxury and more about the building's quirky industrial character and prime location near Dundas West Station and Bloor GO.

A kitchen in one of the units. 

Now, the property is being pitched less as a collection of cool lofts and more as a serious income-generating investment.

The building entrance. 

According to the current listing, the substantially renovated building contains 14 live/work hard loft studios and generates gross annual income of $447,112, with net income of $368,120.

A small patio space off a ground floor loft. 

The listing also advertises a cap rate of 6.15 per cent, a figure that may catch the attention of investors looking for alternatives to Toronto's often underwhelming condo returns.

A unique bachelor loft. 

The building itself still has plenty of character.

Even the lower-level units have charm. 

Inside, you'll find exposed brick walls, massive wood beams, soaring 12-foot ceilings, hardwood flooring, and triple-glazed windows.

Another unit with a loft space. 

Most units also feature en-suite laundry, while the property includes separate hydro meters and individual hot water tanks, making management a little less complicated.

A studio unit with a loft. 

The loft aesthetic remains very much intact, with the kind of industrial details that developers now spend enormous amounts of money trying to recreate in brand-new buildings.

A living room. 

And unlike many Toronto investment properties, this one appears to have a strong rental profile.

The five-bedroom unit.

The most recently leased unit was a five-bedroom, two-bathroom suite that rented for $4,200 per month.

Colourful plumbing adds a quirky charm to the space. 

Location certainly isn't hurting the building's appeal either.

The outside of the building. 

The property sits in High Park near the intersection of Bloor and Dundas, within walking distance of Dundas West Station, the UP Express, Bloor GO Station, Bloor West Village, The Junction, and, of course, High Park itself.

A lower level unit. 

At the original asking price, buyers were effectively paying about $635,000 per loft. Today, that figure works out to roughly $427,500 per unit.

The rooftop. 

That's both a massive discount from the building's original listing price and it's also well below the average selling price of a Toronto condo.

An aerial view of the building and neighbourhood. 

Of course, there's still one small catch: you need nearly $6 million and you have to buy all 14 of them.