$4.39M Toronto Property Combines Home and Work in One Space

Toronto’s real estate market is no stranger to hybrid spaces, but a Toronto property in 432 Queen Street East offers a rare opportunity to combine living and business under one roof—with income potential to boot.

A Multi-Purpose Property with Income Potential

Listed at $4,390,000, this 7,581-square-foot building stands out for its size, location, and live/work flexibility. It was recently reduced by nearly $200,000, adding even more appeal for savvy buyers looking for multi-use real estate in downtown Toronto.

Highlights:

30 rooms total
Three storeys: retail/office, office/studio, and residential
Only one parking spot
Two balconies overlooking a tree-lined laneway
Garage and mudroom included

Photos via realtor.ca

Main Floor: Retail & Office Spaces

The ground level offers:

Open office or retail area with 9-foot ceilings and large windows
Four private offices
Tech room
Garage access

Rental potential ranges from $40 to $150 per square foot annually depending on use and layout. With separate units available for lease, owners could occupy one section and rent out the rest, offsetting costs significantly.

Second Floor: Studios and Flex Offices

Upstairs, the second floor includes:

Three rental offices
A washroom and kitchenette
A large studio space (10-foot ceilings, natural light)

Currently a photography studio, this space could also be used for:

Fitness or yoga classes
Private office or meeting rooms
Event or creative studio

Third Floor: Cozy Two-Bedroom Residence

Unlike many commercial-residential hybrids, the living space on the top floor doesn’t feel like an afterthought.

Two bedrooms with skylights
Open-concept kitchen, dining, and living areas
Wood-burning fireplace
Primary bedroom includes a walk-in closet and Jacuzzi soaker tub
Second bedroom features a Murphy bed for versatility

Although it lacks a traditional backyard, two balconies offer private outdoor options.

Income Breakdown & Market Context

The Toronto Regional Real Estate Board reports average office lease rates of $19.40 per square foot, making this building a viable income generator.
A buyer could choose to live on-site, lease retail or studio space, or convert part of the building for other commercial use.

432 Queen Street East is more than just a building—it’s a strategic purchase for entrepreneurs, creatives, or investors seeking flexible real estate in a central location. With spacious interiors, income potential, and a reduced price tag, this listing balances lifestyle and financial opportunity.

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