Property Description
Incredible opportunity to own this well-maintained, all-brick 5-unit purpose-built apartment building, ideally located at the base of North Streetjust steps from the waterfront, scenic boardwalk, shopping plazas, and a wide range of amenities. The building features 2 spacious two-bedroom units and 3 one-bedroom units, with two units currently vacantoffering immediate upside through market rent potential. At current market rents, the property is capable of generating nearly a 10% cap rate. Additional income is generated through a coin-operated washer and dryer. A large, paved parking lot provides ample tenant parking. Recent updates include a new high-efficiency gas furnace and cosmetic upgrades in several units, including fresh paint and updated trim. The basement features a wide open layout with plenty of space, ideal for additional paid tenant storage or future development opportunities.
Show MoreLocation Description
Wellington St W & North St
Property Details
- Community: West
- Property Type: Tenant/Commercial
- Garages: None
- Annual Property Taxes : $ 6504
Building Features
- Parking Type : None
Building Features
- Heating : Gas Forced Air Open
Rooms
Listing Contracted With: RIGHT AT HOME REALTY
Listed By Agents Details
Neerajan Vijayakanthan
Realtor
RE/MAX ACE REALTY INC.,
3-1266 Kennedy Rd ,
Toronto , ON M1P 2L5
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