Rare investment opportunity in the heart of Cabbagetown, offered for the first time in 26 years. This 1875 historical three storey residential and commercial mixed-use row building offers incredible flexibility in one of Toronto’s most vibrant and evolving east-end corridors. Zoning CR1.5(c1;r1*1906). Positioned along a well-traveled and highly visible strip between Sherbourne and Parliament, 243 Gerrard Street East benefits from steady pedestrian traffic, direct access to transit, and close proximity to Regent Park, Leslieville, and downtown Toronto. The surrounding neighbourhood continues to experience strong reinvestment. The interior showcases beautiful period proportions with high ceilings, incredibly spacious principal rooms, skylights, and glass block that allow natural light to fill the main floor. A bedroom with access to the private backyard adds further flexibility. Upstairs, a sun-filled two storey fully self-contained suite spans the second and third floors, complete with south-facing decks. The lower level features a second kitchen, living area, three-piece washroom, laundry, and ample storage space with direct access to the backyard, ideal for a variety of live and work or income-generating configurations. The front exterior reflects the true charm of Cabbagetown’s late nineteenth-century architecture, with a fine-grain classic brick façade. At the rear, there is a fully secured right-of-way gated parking area accessed from Ontario Street. This is an exceptional opportunity for investors, owner-operators, or buyers seeking a character-rich property with long-term upside.