This mini-apartment building in Toronto is on sale for $5 million
Giant condo complexes are a dime a dozen in Toronto but boutique apartment buildings that don't need to be completely gutted are a rare find.
1-9 Humewood Drive is about as rare as they come. It's a legal and fire code compliant purpose-built six-unit apartment building in a prime location.
Listed for $4,985,000, the building boasts six two-bedroom apartments, that are around 1,200-square-feet.
They were all completely renovated between 2019 and 2021.
So while the units still have some of the original building's charm, like the fireplaces, they also have new kitchens and bathrooms, adding that modern touch.
The main floor units also come with private yard space which is always nice.
And the interiors weren't the only thing that was renovated. The building also has a newly updated roof, windows and sprinkler system.
The only draw back is the building only has three parking spots but the building is located just steps from St. Clair so transit isn't really an issue.
But the best thing about this place is that this building is completely untenanted.
So if you're going to become a landlord you now have complete control over who rents in the building.
The listing suggests that the building could make around $221,000 a year in rental income.
But another option could be if you and all your friends chip in to purchase the building and create an inner-city commune of sorts. Minus the cult-vibes of course.
Either way, as listing agent Jose Periera says in the listing, this is a "once in a lifetime opportunity!"
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