Added 2 weeks ago
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Type: Investment
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Property Type: Commercial
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Business Type: Apts-6 To 12 Units
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Zoning: R4UB
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Age: No Data
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Taxes: 17159
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MLS®#: X11960040
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Days on Site: 13 Days
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Added: Feb 06, 2025 (2 weeks ago)
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Updated:
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Last Checked: 3 hours ago
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Listed By: CAPITAL COMMERCIAL INVESTMENT CORP.
This is a fantastic opportunity to own a turn key 8-unit investment property, with phenomenal cash flow! Perfectly situated only steps from Lebreton Flats, Little Italy and Chinatown, in a community filled with a diversity of restaurants, cozy cafes and all the amenities of living downtown. Public transit is within a block with quick access to the LRT station which runs through Lebreton Flats. Gross income of $138k+ with an NOI of $102k+. This is an outstanding investment opportunity at a 6.4% cap rate. This building is well maintained and in great condition with recently renovated units and a solid tenant base comprised primarily of young professionals. This building is extremely easy to manage and boasts a cooperative relationship between the owner and the tenants. All units are located above-grade and comprised of 3 spacious and bright two-bedroom units, two one-bedroom units and three bachelor suites. The impressive top floor two-bedroom unit was recently fully renovated with a new kitchen, new bathroom, full interior painting, new laminate flooring and fixtures throughout. A profitable coin operated laundry is in the basement with ample storage space for tenants. The property sits on a 71 x 46 lot with R4UB zoning and the spacious side lot (which currently holds 7 parking spaces) offers the potential for future development opportunity to add additional units.
Property
Status: Sale
Type: Apts-6 To 12 Units
Property Type: Investment
Property Type: Apartment
Net Income: 102406
Area: West Centre Town
Community: 4205 - West Centre Town
Availability Date: Flexible
Inside
Air Conditioning: N
Utilities
Utilities: Yes
Building
Heat Type: Gas Forced Air Open
Green Verification Status: N
Freestanding: Y
Outside Storage: N
Water Supply: Municipal
Parking
Garage Type: Lane
Covered Parking Spaces: 7
Fees
Tax Year: 2024
Taxes: $17,159
Expenses: Act
Insurance Fee: 6082
Operating Fees: 35641
Hydro Expense: 1986
Heat Expenses: 3557
Other Expenses: 3928
Taxes Type: Annual
Taxes: 17159
Tax Year: 2024
Water Fees: 2929
Land
Cross Street: Eccles Street & Bell
Municipality District: West Centre Town
Parcel Number: 041090259
Lot Depth: 46.16 Feet
Lot Frontage: 71.41 Feet
Zoning: R4UB
Commercial Specific
Sprinklers: Part
Total Area: 3000
Total Area Metric: Sq Ft
Lot Code: Building
Gross Income/Sales: 138047
École élémentaire publique Centre-Nord
Elementary: PublicCambridge Street Community Public School
Elementary: PublicSt Anthony Elementary School
Elementary: CatholicCentennial Public School
Elementary: PublicDevonshire Community Public School
Elementary: PublicGlashan Public School
Elementary: PublicUrban Aboriginal Alternate High School
Secondary: PublicRichard Pfaff Secondary Alternate Site
Secondary: PublicImmaculata High School
Secondary: CatholicLisgar Collegiate Institute
Secondary: PublicAdult High School
Secondary: PublicGlebe Collegiate Institute
Secondary: Public
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