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391 Major Mackenzie Dr E 44 Unit Apartment Building $12,900,000 CAD ($293,182 CAD/Unit) Richmond Hill, ON L4C 1H8
Investment Highlights
- 44-suite multifamily apartment building on a 1.38-acre site.
- Approximately 67% rental upside.
- Directly across from Richmond Hill GO Station.
- Recent capital improvements.
Executive Summary
391 Major Mackenzie Drive East is a well-maintained 44-suite multifamily apartment building situated on a prominent 1.38-acre site in the heart of Richmond Hill, directly across from Richmond Hill GO Station. The property offers stable in-place income with significant rental upside and long-term value enhancement potential. Recent capital improvements, a diverse suite mix, separately metered hydro, and on-site parking further enhance the property's appeal. Ideally positioned near transit, shopping, schools, and major transportation routes, this offering represents an exceptional investment opportunity in one of York Region's most established rental markets.
Property Facts
| Price | $12,900,000 CAD | Building Class | C |
| Price Per Unit | $293,182 CAD | Lot Size | 1.38 AC |
| Sale Type | Investment | Building Size | 57,084 SF |
| No. Units | 44 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1959 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.61/1,000 SF |
| Price | $12,900,000 CAD |
| Price Per Unit | $293,182 CAD |
| Sale Type | Investment |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.38 AC |
| Building Size | 57,084 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1959 |
| Parking Ratio | 0.61/1,000 SF |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
Site Amenities
- Controlled Access
- Laundry Facilities
- Playground
- Property Manager on Site
- Video Patrol
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 22 | - | 780 |
| 2+1 | 18 | - | 920 |
| 3+1 | 22 | - | 1,200 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
50/100
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391 Major Mackenzie Dr E
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