M1J Apartment Buildings for Sale

Apartment Buildings for Sale Within 5 kilometers of M1J

1385 Midland Ave

Toronto, ON M1P 3B8

Multifamily for Sale
Price Upon Request
193,921 SF

Air Conditioning
Day Care
24 Hour Access
Controlled Access

Toronto Multifamily for Sale - Scarborough

147 Unit Apartment Building on 2 Acres

Contact:

Avison Young

Property Subtype:

Apartment

Date on Market:

2022-10-13

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587 Danforth Rd

Toronto, ON M1K 1E5

Multifamily for Sale
$1,650,000 CAD
5,105 SF

Toronto Multifamily for Sale - East Toronto

User/Investment Opportunity: Meticulously Maintained Multi-Plex in Desired corner Location. This property boasts an unbeatable location, with a TTC bus stop steps from your doorstep and close proximity to all amenities and downtown, offering immense appeal to tenants. The building features six residential units, comprising four 2-bedroom units and two 1-bedroom units. Each unit benefits from two separate access points, enhancing privacy and convenience. All units are currently occupied by month-to-month tenants, providing immediate income and flexibility for future strategies. Each unit includes a 3-piece washroom. A shared coin laundry facility adds an attractive amenity for residents and an additional income stream for the owner. Equipped with two furnaces with humidifiers (approx. 10 years old), four owned gas hot water tanks, two separate gas meters and separate hydro meters for each unit. Roof is approximately 12 years old. Some units are equipped with portable window air conditioning units. Ample exterior parking and 4-car detached garage. This property presents a compelling investment with an estimated annual gross income of $100,414.80 and an estimated annual expense of $27,553.00, with and estimated Net Operating Income (NOI) of 72,861.80.