Large five unit building in Annex, Downtown Toronto Real Estate
Legal Four plex plus 1 accessory in the basement
If you’re looking for an investment property that is low maintenance, is new and already making money, look no further than this property located on the Bloor subway line in the Annex neighborhood in downtown Toronto with 5 units in it. The property is semi detached in the front with a massive addition in the back and is finished with above average finishes. Quartz counters, stainless steel appliances, individually metered, individually heated and cooled, washer and dryers within each unit are some of the features this property presents.
We are holding open house style showings for this property and is available by appointment only. Connect with me to find out our schedule and when you can come see it.
- Zoning: CR 3.0 (c1.5; r2.5) SS2 (x1438)
- Height Limit: 16m (Current structure height is 10.52m at its highest point)
- 98 walk score, 100 transit score, 97 bike score
- 5 large bedrooms (above ground) with large 3rd floor loft and roof top deck, front covered porch and enclosed front lawn.
- Basement floor has been lowered and is fully renovated. 2 bedrooms, kitchen and washroom, separate walk out.
- New Kitchens in basement and main floor (Total 2). New 3 piece washroom on every level (Total 4)
- New 400 Amp power supply, new electrical wiring thru out, interconnected fire alarm system (with rear addition)
- Each floor with individual sub-panel for ease of operation as a rental
- New underground drains, above ground drains replaced, new supply lines, tiles, sinks, vanity fixtures, toilets, light fixtures, paint, updated to code, A/C etc.
- Removed knob and tube and replaced with copper electrical wiring
- New cedar fascia and soffits, new eaves troughs, downspouts and roof
- Original strip hardwood floors and new German commercial grade laminate floors (basement and 3rd floors)
New Rear Addition:
- Non-combustible construction, structural steel studs, poured concrete, concrete blocks and all fire separations and interconnected fire alarm system.
- 3 separate units, separate entrance for all units
- Super energy efficient Hvac system (lower operating costs), Air handler and A/C for each unit.
- Closed cell spray foam insulation in walls, sound insulation, fire insulation and fire rated doors
- All new appliances in each unit (fridge, stove, microwave exhaust, stacked full size washer and dryer)
- Separately metered for electricity (4 meters), 1 gas meter for property.
- German commercial grade laminate floors
- 3x Exterior perimeter security cameras installed and roughed in.
- 1x Large indoor garage
- Zoning allows for commercial and residential uses. The property is surrounded by wide lane ways and is beside a large green P parking lot. Future potential for commercial uses.
- The zoning allows for 16m height, the current property has a height of 10.52m. Which, leaves potentially 2 additional floors that can be added to both the house and the addition.
- The zoning allows for a combined coverage of 3x the area of the lot. Currently the property is using under 2x the area of lot. This leaves 30% more floor space that can easily be added.
- The rents are set to increase over the next three months with new tenants which will make the cap rate higher.
If you would like to get a copy of the financials, please click on the link below
If you would like to schedule a visit to the property or would like to get a copy of the detailed package, please fill out the form below