Small apartment complex in Toronto is on sale for $3 million
If you've ever dreamt of owning a property that's as charming as it is lucrative, then welcome to your new real estate crush!
Nestled in the heart of Deer Park, this care-free four-unit investment property is bursting with character and investment potential that's as irresistible as a Saturday morning brunch.
Let's take a stroll through this money-making marvel, shall we?
Step into the main floor unit, and you're greeted by a two-bedroom oasis with separate living and dining rooms.
It also has its very own patio and two full bathrooms, so no one ever has to wait in line for their morning shower.
On the second floor you'll find a layout that mirrors the main floor but the cherry on top is that the third floor plays host to a primary suite, complete with a three-piece bathroom.
The basement hosts a bachelor apartment and a snug two-bedroom unit that could use a glow up but is by no means terrible.
The building also comes with shared laundry facilities that make life easy for everyone.
The main and second/third-floor units boast their own separate laundry units.
4 Oriole Gdns. also has three parking spots, which is ideal for a multiplex.
As if that wasn't enough, this property comes fully loaded with four fridges, four stoves, three dishwashers, and three washers and dryers.
So whether you're a seasoned investor looking to expand your portfolio or someone itching to call one of these units home while collecting rent from the others, this property is a golden ticket.
According to listing agent Ian Lopes, the 1918 building has a current cap rate of 3.24 per cent but has a lot of upside. If the four-units were rented out at market rate today you could be looking at a net income of over $140,000 per year.
It also doesn't hurt that 4 Oriole Gdns. is in a great location.
It's mere steps away from parks, walking and cycling paths, top-notch schools, and the St. Clair subway and streetcar. Convenience? Check.
Listed for $3,199,000 this multiplex is not just a property; it's an investment adventure waiting to happen.
And insider tip, this property has been on and off the market since 2021, which means all negotiation power is in the buyers favour.
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