587 Danforth Rd - Apartments FOR SALE


Toronto, ON M1K 1E5- Clairlea-Birchmount
$1,650,000 CAD
416-605-3627

NO PHOTO

$1,650,000 CAD
Apartments - FOR SALE
null | 4.42% Cap Rate

587 Danforth Rd
Toronto, ON M1K 1E5
Clairlea-Birchmount


HIGHLIGHTS

  • The site benefits from convenient access to major arterial roads including Eglinton Avenue East and Midland Avenue.
  • The property is well-serviced by public transit, with nearby bus routes and easy access to the TTC subway and GO Transit.
  • Ample nearby amenities, including restaurants, retail shops, and community services, enhance the overall appeal for both customers and employees.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,650,000 CAD

PRICE/SF

$323 CAD /SF

# OF UNITS

6

PRICE/UNIT

$275,000

CAP RATE

4.42%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1955

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

RS(f12.0;a510)(x56)

APN/PARCEL ID

190102322000100

ASK ABOUT THIS PROPERTY

416-605-3627

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416-605-3627

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