50 LANARK AVENUE, Toronto (Humewood-Cedarvale), Ontario, M6C2B4

Property Description

Newly constructed, fully tenanted custom 3-unit property with primary home, legal lower suite and rear coach house. Rare unit mix with 4-bedroom Main House, 3-Bedroom Coach house and 2-bedroom lower suite (no 1-bedroom units) attracts long-term stable tenants. Net operating income of $110k (see financials). The proximity to Cedarvale Park, Leo Baeck Day School and newly opened Eglinton Crosstown drives rental demand. Because of the unique separation between the primary home and lower suite/coach house, buyers can choose to live in the private primary home while earning substantial income from lower suite/coach house. The units are thoughtfully designed to provide privacy/separation to all tenants (most other multiplexes have stacked units). New construction equals very low maintenance costs/upkeep. Option for a VTB of up to $500k with competitive terms. Mirror image neighbour property at 50B Lanark Ave also available for those looking for a fully tenanted 6-unit income property earning $220k in NOI. (id:64974)

Quick Facts

• Property Type: Triplex
• Bedrooms: 9 (7 above, 2 below)
• Bathrooms: 5 (1 half)
• Attached: Yes
• Parking: 1 space (Detached Garage, Garage)
• Frontage: 18 ft (5.4 m)

Costs

• Annual Taxes: $10,195.26

Listing Provided by: RIGHT AT HOME REALTY
Board: Toronto Regional Real Estate Board
Data provided via CREA DDF®.