Apartment Building with Significant Rental Upside In Toronto West, Toronto, Ontario Toronto ON CA

118-unit apartment building with 149% gap to market rental upside\r- 13 units currently vacant with pending permit applications to add an additional den to every unit\r- Downtown Toronto core location with immediate access to transit and shopping\r- All units separately metered\r- Well maintained property with efficiency upgrades\r- Ability to construct two additional bachelor units within existing building envelope\r- Opportunity to construct addition to building with 44 additional units\r- Can be purchased separate or as part of a portfolio (6 additional buildings)\rDevelopment opportunity to construct 4 storey addition with 44 additional units, for a total unit count of 164 units\r- Official Plan supports intensification\r- Approx. $2.57 million in CapEx completed\r\rEnergetic Downtown West is a multicultural residential neighborhood with wide, pedestrian friendly sidewalks, colorful street art and a mix of Victorian mansions and apartment buildings. The area is just steps from the vibrant Queen Street West featuring an international mix of restaurants, vintage stores, trendy boutiques, artsy\rhotels and art galleries. There is a ton of character in this neighborhood and in recent years, Vogue has declared it as one of the coolest neighborhoods. It has become one of the most sought-after areas of the city and higher-income households have become majority ‘stakeholders’ of some of Downtown West’s finest homes and lots. Millennials looking to escape the white picket fence nature of other outermost areas of the city have found home in Downtown West’s culturally rich, innovative, and unconventional natures flock. Find out more about this property. Request details here