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165 Colborne Ave 40 Unit Apartment Building $12,400,000 CAD ($310,000 CAD/Unit) 5.02% Cap Rate Richmond Hill, ON L4C 1J8
Investment Highlights
- Extensive Capital Improvements
- Efficient Operating Structure
- Prime Transit-Oriented Location
- Strong Financial Performance
Executive Summary
Introducing 165 Colborne Avenue, a well-maintained 40-suite multifamily asset in the heart of Richmond Hill. Ideally positioned beside the Richmond Hill GO Station, the property offers exceptional commuter access to downtown Toronto and is surrounded by a broad mix of neighbourhood amenities including grocery, retail, and restaurants, all within walking distance.
This 4-storey, purpose-built apartment building sits on 0.83 acres and features a diversified suite mix of bachelor, one-bedroom, two-bedroom, and three-bedroom units. With separately metered hydro, multiple ancillary income streams, and consistent capital upgrades, the property provides strong in-place stability and meaningful long-term value creation.
This 4-storey, purpose-built apartment building sits on 0.83 acres and features a diversified suite mix of bachelor, one-bedroom, two-bedroom, and three-bedroom units. With separately metered hydro, multiple ancillary income streams, and consistent capital upgrades, the property provides strong in-place stability and meaningful long-term value creation.
Property Facts
| Price | $12,400,000 CAD | Building Class | C |
| Price Per Unit | $310,000 CAD | Lot Size | 0.83 AC |
| Sale Type | Investment | Building Size | 37,360 SF |
| Cap Rate | 5.02% | Average Occupancy | 97% |
| No. Units | 40 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Apartment Style | Mid-Rise |
| Price | $12,400,000 CAD |
| Price Per Unit | $310,000 CAD |
| Sale Type | Investment |
| Cap Rate | 5.02% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.83 AC |
| Building Size | 37,360 SF |
| Average Occupancy | 97% |
| No. Stories | 4 |
| Year Built/Renovated | 1963/2020 |
| Parking Ratio | 1.47/1,000 SF |
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 650 |
| 2+1 | 26 | - | 500 - 900 |
| 3+1 | 2 | - | 1,100 |
| Studios | 3 | - | - |
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
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165 Colborne Ave
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