| Message Number | 412784 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| status | Active | ||||||||
| Subject Line | Apartment Building with Significant Rental Upside In Toronto West | ||||||||
| Business area |
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| Have/Want | Have | ||||||||
| Business category | Apartment buildings/multi unit/condo townhouse projects/investments | ||||||||
| Date of Listing | February 3 2023 | ||||||||
| Price | $36,000,000.00 | ||||||||
| Comments | 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. |
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| Internet Links | https://www.frankrealtor.ca/Toronto/Ontario/Homes/West_Toronto/Agent/Listing/542695804?showPrevNextButtons=true | ||||||||
| Member Identifier | 11575 | ||||||||
| Name | Frank Wang | ||||||||
| Title | Sales Representative | ||||||||
| Company Name | Homelife Landmark Realty Inc. Brokerage | ||||||||
| Address Line One | 7240 Woodbine Ave, Suite 103, | ||||||||
| City | Markham | ||||||||
| State/Province | Ontario | ||||||||
| Zip/Postal Code | L3R 1A4 | ||||||||
| Country | Canada | ||||||||
| Business Phone Number | (905)305-1600 | ||||||||
| Cell Number | 4168908616 | ||||||||
| Email Address | Send Email | ||||||||
| Home Page | Home Page |
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