Turn Key Fourplex With Excellent Income in the Annex

For sale for $1,250,000 ~ you could make $1800 per month.

With FOUR well planned apartments, this house generates over $69,000 in gross income per year and approximately $55,000 net income per year.  With 20% down, this property carries for approximately $3944 per month (OAC), plus taxes, insurance and maintenance, while bringing in $5750 per month with room to grow the rents over time. That translates to almost $1800 per month in cash-flow.

Handsome Income-Producing Victorian On Best Part Of College/Bathurst St In Prime U Of T/Little Italy Location.  Potential To Increase Rent Over Time. Shared Laundry (add coin-op system for additional income). Many Improvements & Enhancements.  Includes:  All electrical light fixtures (not belonging to tenants), 4 Fridges, 4 Stoves, Ceiling Fans, Microwaves, Built-In Dishwashers, Washer & Dryer.

This house is fully occupied with all tenants on month-to-month leases.  Continue to enjoy the income or you can move into one of the suites or you cam move one of your children in with proper notice (2 calendar months) to the current tenant.

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My continuing education in 2014.

Here are the courses I’m booked in for this fall…

  • Tips to protect your client
  • LinkedIn – powerful networking tool
  • Multiple offers – the Buyer and You
  • 100 Ways to be better in Real Estate
  • Understanding the Builders Agreement of Purchase & Sale (New homes & condos)
  • Understanding Residential Statistics in Stratus
  • Practical approach to dealing with the Buyer Representation

I have been taking courses over the past couple of years but haven’t been good at updating this section of my blog. Here are some of the courses I’ve taken in the past two years….

  • How REBBA Affects You Every Day (July 2014)
  • An Overview of 2014 Standard Forms (March 2014)
  • Important benefits to using the Buyer Registry Service (January 2014)
  • Topical Issues of the Real Estate Industry (October 2013)
  • The Real Estate Industry – What you need to k now (September 2013)
  • Facebook for REALTORS®  (July 2013)
  • Using Video Online to Focus Your Brand: It`s Easier Than You Think (May 2013)
  • Legal Concerns for Residential Rental Properties (November 2012)
  • Land Registry and Assessment Data  (November 2012)
  • Tapping into the Grey Market: The Next Real Estate Wave  (November 2012)
  • MPAC Update 2012 (February, 2012)
  • Perfecting Your Evaluations  (December 2011)
  • Wills and Estate Planning  (December 2011)
  • Boundary Rights – Fence Lines, Title Disputes and Related Issues (November 2011)
  • Second Suites in Homes and Student Lodging Houses (Nov 2011)
  • Listing Presentations (October 2011)

 

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Attention Developers & Builders! South Riverdale investment opportunity.

This is a rarely available plot of land near Queen St E and Broadview!  There is a house on the lot that needs to be torn down but this is a great opportunity buy, tear down and build 2 semi-detached houses and possibly more than double your money.  The lot is 35 feet wide by 74 feet deep.

Newly built semi-detached homes in the neighbourhood sell for $800-900 000.  I am happy to provide you with some local sales to review when we meet.

If you are looking for somewhere for you and your family to live, you could buy the lot, build two houses then sell one of them and live in the other pretty close to free!  I have a couple of contractors you could work with to accomplish this goal.  You could possibly get approvals for a low-rise building (under 3-4 stories) and build a boutique apartment building that you could sell as a whole or live in and rent out the other units.

Call me for more details or for a viewing.

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East end rental options

The Merrill house went fast and I’m still getting calls, so I thought I would post a list of other houses in the area.

Houses:

http://v3.torontomls.net/Live/Pages/Public/Link.aspx?Key=aaae7de6fbe74366a4c38ab950fb3020&App=TREB

Condo townhouses: (7 listings)

http://v3.torontomls.net/Live/Pages/Public/Link.aspx?Key=a2a08e13a88d49f2afd150da84e53365&App=TREB

There are more listings but the rent for a three bedroom is generally higher than $2400, especially downtown.

Feel free to get in touch if any of these are of interest or if you’d like to see listings that might be a little higher in price.

The above links are live for only 2 weeks.  Please do get in touch with me if you come across this post after they expire.

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Great Airbnb investment property available for sale

This newly and custom built (2012) house on a tree lined side street in the Annex is available for sale now.  This could be a great pure investment property or you could rent out 2 of the 3 apartments while you  live here for nearly nothing.

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The owner currently lives on the ground floor in a beautiful one bedroom apartment while she rents out the completely separated lower level and the upper level three bedroom apartments to visiting professionals on Airbnb.ca with no vacancies.  If the short-term rental situation that is done on Airbnb makes you nervous, you could go with normal longer term tenants.  Either way, you would be getting this property as vacant, so that YOU can pick your own tenants and get the current market rent.

With the minimum 20% down (or about $300,000), this house would carry for approximatly $4734 per month (plus taxes, utilities and insurance). The upper three bedroom apartment would easily rent for at least $2500-$3000 per month (possibly more) and the lower level would rent for at least $1800 per month.  Which would leave you living in the ground floor apartment for just about free or rent out that ground floor apartment for an extra $2000+ per month.  The double car garage could be an extra source of revenue for at least $100 per space or just keep it for yourself.  There are few vacancies in the downtown area (in houses, not condos) for spacious and new apartments like this.  This area demands a high quality tenant with whom you can expect no problems.

If you are a little more brave, you could consider renting out the suites as short-term rentals on Airbnb.ca as the current owner does.  This is a very lucrative option but it comes with a different set of circumstances.  I’m happy to explain this option in detail when we speak.

When buying through me, you still have me on your side after the purchase.  I am not gone with the sale.  You are not on your own to handle the rental process.  I’ll be there for you during the rental process and handle the first time rentals for no extra charge.  That means I will take care of the advertising, the phone call inquiries, the visits to show the apartment and the documentation.  All you need to do is cash the cheques.

In addition to the location and quality workmanship, this house has approximately 5 years remaining of it’s Tarrion Warranty. Visit their website to understand what this means to you as the buyer.  This is a unique opportunity to own a custom built home in the downtown area.

If this property piques your curiosity at all, please give me a call to discuss it further or for a visit.

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