Investment Property in Cabbagetown
Price : 969,000.00
Address : Gerrard St E
City : Toronto
Main intersection : Parliament
GTA district : Central

Listed under: For sale by owner
Type of home: More info in home description
Home size in sqft : 2500 or more sq ft
Bedrooms: 0
Bathrooms: 0
Basement: 0
Garage: No
Parking : 3 or more cars
Lot size : 38x122
Taxes: 5342.17
Condo fee :

Home description: INVESTMENT PROPERTY FOR SALE 
 
Modern, updated and approved 5 apartment building, meets Fire Code, in Cabaggetown, on Gerrard Street between Sherbourn and Parliament. Close to all amenities, in Downtown Toronto, just a few hundred meters from Ryerson University. All apartments with Air Conditioning and separate entrances and approved emergency exits. Lot size 38x122 feet, with parking spaces from the alleyway for 5 cars. 
All spaces are rented at $50.00 per month to neighbours, as none of the tenants uses them.  
 
Apartment A: very cozy and comfortable 2 Bedroom, loft style (two top row of windows on the picture), A/C, wood burning fireplace, living room, kitchen, W/R, laundry facilities, broadloom throughout. Panoramic balcony with deck on the roof. Separate entrance directly from. Gerrard St. Tenants pay their own Hydro (separate meter). 
Lease ending Sep.30.2007, extended to Sep.30.2008. Rent $1,400.00/month plus Hydro. 
 
Apartment B: 1 bedroom, renovated in May.2007, stunning looking, with laminate floor throughout, brand new large fridge and new stove. A/C, W/R, laundry facilities shared with apartment next door, in a common exit hallway. Side separate entrance from the patio (grey stucco on the picture). 
Hydro meter common with apartment D (cost included in the rent). 
Lease ending May.31.2008. Rent $1,100.00, including Hydro. 
 
Apartment C: large 3 bedrooms below ground level with very large panoramic windows to the patio bringing plenty of light inside (see picture). Laminated floors, living room, kitchen and laundry facilities. 1 ? W/R. Separate Hydro meter.  
Lease ending Apr.30.2008. Rent $1,800.00 plus hydro. 
 
Apartment D: 2 bedrooms, broadloom floor, living room, A/C,  kitchen, and W/R. Laundry facilities common with Apt.B. Separate entrance from patio in the arch seen on the picture. 
Lease ending Sep.30.2008. Rent $1,100.00, including hydro.  
Apartment E: 2 bedrooms, broadloom floor, large living room with wood burning fireplace, A/C, kitchen, W/R and laundry facilities. Large balcony with deck in the back. 
 
FINANCIALS: 
Gross income: Apt. A ­ 2 bedroom            $1,400.00x12 = $16,800.00 
          Apt. B ­ 1 bedroom              $1,110.00x12 = $13,200.00 
          Apt. C ­ 3 bedroom              $1,800.00x12 = $21,600.00 
          Apt. D ­ 2 bedroom              $1,100.00x12 = $13,200.00 
          Apt. E ­ 2 bedroom              $1,350.00x12 = $16,200.00 
          Parking 5 cars @$50.00/m        $   250.00x12 = $ 3,000.00 
                 Total Income                              $84,000.00 
 
 
Expenses for last year: 
            Water                                           $992.81 
            Hydro                                           $5,055.50 
          Insurance                                       $2,180.52 
          Property taxes                                  $5342.17 
                   Total Expenses                  $13571.00 
                  Net Income                              $70,429.00    
                  
Contact name: Alex Ribeiro
HomePhone: 416 931 3477
Willing to deal with Real Estate agent: No
Email : Mail Me