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Property Details
Basic Information
MLS® ID:
28413637
Status:
Active
Bedrooms:
9
Bathrooms:
5
Location
Full Address:
50A Lanark Street Toronto (Humewood-Cedarvale), Ontario M6C2B4
City:
Toronto (Humewood-Cedarvale)
Province/State:
Ontario
Postal Code:
M6C2B4
Country:
Canada
Coordinates:
43.6968727, -79.441597
Property Details
Property Type:
Detached
Utility Information
Financial Details
| Detail | Amount |
|---|---|
| List Price | $2,065,000 |
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Toronto (Humewood-Cedarvale) Property Description
75% VTB available. Newly constructed, custom 3-unit property with primary home (main house), legal basement suite and rear coach house.The 3-storey primary home has 4-bedrooms, 4-bathrooms (50B Lanark main unit currently rented for $5,150/month). The 3-bedroom Rear coach house was leased for $3,200/month, and the 2-bedroom basement suite, which is accessible by a separate exterior entrance at the rear, was leased for $2,250/month. Approximated annual rent of $127,800 and net operating income of $113,000 (see financials attachment to this listing). The primary home has been left vacant to provide optionality to the buyer to decide whether to live in the main unit or rent it out. Because of the unique separation between the primary home and the basement suite/coach house, Buyers can choose to live in the primary home while earning substantial income from the basement and coach house. Mirror image neighbour property at 50B Lanark Ave also available for those looking for a fully tenanted property. Option to purchase both 50A & 50B Lanark for a 6-unit income property. This property is not subject to Ontario rent increase limits as it is newly constructed, and rent prices can be increased annually to levels set by the Landlord. The primary home has a Main floor Powder Room and mud-room, Custom-built eat-in kitchen with floor to ceiling pantry for ample storage. Oversized Master Bedroom With tons of natural light, His and Her Custom millwork Closets, and master bedroom ensuite with a Free-Standing Tub, Double Vanity and an oversized glass shower.The property is steps to shops on Eglinton, Cedarvale Park, Leo Baeck Day School and Eglinton Station/Crosstown. (id:58062)
