17
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$5,399,888
Est. payment /mo
12,240 SqFt
Active
156 Barrington AVE Toronto E03, ON M4C 4Z2
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UPDATED:
11/08/2024 02:35 PM
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 12,240 sqft
Price per Sqft $441
MLS Listing ID E10413083
Annual Tax Amount $17,853
Tax Year 2024
Property Description
This exclusive 12-unit apartment building in Torontos East End offers a high-yield investment with a 2023 net operating income of $313,042 and a 5.8% cap rate. With 1 bachelor unit and 11 two-bedroom units, this 3-storey walk-up features intercom access, coin-operated laundry, and 8 rentable parking spaces, all designed to maximize income potential. Strategically upgraded, the property includes renovated kitchens, bathrooms, fresh paint, modern flooring, and 100-amp panels in each unit. A new boiler (2021) and 13 hydro meters add efficiency, making it an attractive choice for tenants and owners. Located near Danforth Village, Main Street Subway, and Danforth GO, the building is ideally situated for commuters, providing easy access to downtown Toronto and nearby amenities like parks, schools, and Greektowns vibrant community. High demand and rising rental rates make this area highly sought-after with low vacancy rates. With limited new construction, this property stands out as a turnkey investment with strong cash flow in a growing market.
Location
Province ON
County Toronto
Community Crescent Town
Area Toronto
Region Crescent Town
City Region Crescent Town
Interior
Cooling No
Exterior
Garage Spaces 7.0
Community Features Public Transit, Subways
Utilities Available Available
Lot Depth 146.79
Listed by RE/MAX GOLD REALTY INC.