Apartment Building with Significant Rental Upside In Toronto West West Toronto (Toronto, Ontario, CA ) Built

$36,000,000

Camelia Fathi Realtor

CAMELIA FATHI CAMELIA FATHI 514 802 0768 (Office) 514 802 8468 (Cell) Request More Info

  • Type: Residential
  • Style: Multiplex
  • Development Level: Built
  • Lot Size: 0.644 acres 188ft x 150ft

Description

118-unit apartment building with 149% gap to market rental upside
− 13 units currently vacant with pending permit applications to add an additional den to every unit
− Downtown Toronto core location with immediate access to transit and shopping
− All units separately metered
− Well maintained property with efficiency upgrades
− Ability to construct two additional bachelor units within existing building envelope
− Opportunity to construct addition to building with 44 additional units
− Can be purchased separate or as part of a portfolio (6 additional buildings)
Development opportunity to construct 4 storey addition with 44 additional units, for a total unit count of 164 units
− Official Plan supports intensification
− Approx. $2.57 million in CapEx completed

Energetic Downtown West is a multicultural residential neighborhood with wide, pedestrian friendly sidewalks, colorful street art and a mix of Victorian mansions and apartment buildings. The area is just steps from the vibrant Queen Street West featuring an international mix of restaurants, vintage stores, trendy boutiques, artsy
hotels and art galleries. There is a ton of character in this neighborhood and in recent years, Vogue has declared it as one of the coolest neighborhoods. It has become one of the most sought-after areas of the city and higher-income households have become majority ‘stakeholders’ of some of Downtown West’s finest homes and lots. Millennials looking to escape the white picket fence nature of other outermost areas of the city have found home in Downtown West’s culturally rich, innovative, and unconventional natures flock.

Attachments

Brokered and Advertised by : 4168908616
Listing Agent: Frank Wang
P2#542695804
top
Information is deemed to be correct but not guaranteed.

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.