587 Danforth Road
587 Danforth Road in Toronto - 10 bedroom, 6 bathroom. Listed at $1,650,000.
User/Investment Opportunity: Meticulously Maintained Multi-Plex in Desired corner Location. This property boasts an unbeatable location, with a TTC bus stop steps from your doorstep and close proximity to all amenities and downtown, offering immense appeal to tenants. The building features six residential units, comprising four 2-bedroom units and two 1-bedroom units. Each unit benefits from two separate access points, enhancing privacy and convenience. All units are currently occupied by month-to-month tenants, providing immediate income and flexibility for future strategies. Each unit includes a 3-piece washroom. A shared coin laundry facility adds an attractive amenity for residents and an additional income stream for the owner. Equipped with two furnaces with humidifiers (approx. 10 years old), four owned gas hot water tanks, two separate gas meters and separate hydro meters for each unit. Roof is approximately 12 years old. Some units are equipped with portable window air conditioning units. Ample exterior parking and 4-car detached garage. This property presents a compelling investment with an estimated annual gross income of $100,414.80 and an estimated annual expense of $27,553.00, with and estimated Net Operating Income (NOI) of 72,861.80.
Property Details
- Property Type: Mortgage
- Style: 2-Storey
- Square Footage: 4250 sqft
- Basement: Apartment
- Heating: Gas
- Cooling: None
- Parking: 19 spaces
- Property Taxes: $9,275/yr
- Neighbourhood: Clairlea-Birchmount
- Postal Code: M1S 1P4
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