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1502 King St W 15 Unit Apartment Building $4,800,000 CAD ($320,000 CAD/Unit) 3.50% Cap Rate Toronto, ON M6K 3B5
Investment Highlights
- Fantastic curb appeal; beautiful historic building
- Excellent investment opportunity with a strong set tenants and a waitlist
- Public transit/street car access directly outside
- Short walk to Roncesvalles, full of restaurants, cafe, and retail options
- Large apartments
- 15 units
Executive Summary
Boutique building, 15 Units located directly on King Street West. Fantastic curb side appeal. This unique building is located in Parkdale with a short walk to Roncesvalles, King W and Dufferin. Buses and streetcars at the front door. Grocery (Nofrills) less than 5 minute walk, beach less than 10 minute walk. Phase 1 Enviro Complete. Beautiful charm throughout. Fully occupied. Hydro is paid by the owner. It's including 6 bachelor unit, 8 of 1 bedrooms, one of 2 bedrooms. Large, bright apartments, laundry onsite. Current gross income about $230,000.00 and potentially earn up close to 250,000.00 in 2024. Please contact listing agent for financial information. All numbers and measurements are to be verified by co-operating agent. VTB available. Seller is willing to do a second mortgage at 6% repayable interest only for 2 years. Total mortgage financing is not to exceed 80% LTV. Salesperson related to the owner of the building.
Property Facts
| Price | $4,800,000 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $320,000 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 3.50% | Building Size | 10,373 SF |
| No. Units | 15 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1914 |
| Property Subtype | Apartment | ||
| Zoning | R - Residential | ||
| Price | $4,800,000 CAD |
| Price Per Unit | $320,000 CAD |
| Sale Type | Investment |
| Cap Rate | 3.50% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 10,373 SF |
| No. Stories | 4 |
| Year Built | 1914 |
| Zoning | R - Residential |
Amenities
Site Amenities
- Smoke Free
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Exceptional public transit
90/100
Moderately bikeable
70/100
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1502 King St W
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