667 Manning Ave
Listing $3,888,000
$18k/mo + Rents and Massive Cashflow of Nearly $5k/mo
5plex in The Annex, the BEST investment neighbourhood in Toronto
This unique 5plex is located in the heart of The Annex, just steps from Bloor St, two subway stations. Yorkville and the University of Toronto. Newly renovated top-to-bottom along with a newly build 3-story extension for a total of approx 5100sqft.Enjoy the steady stream of nearly $220k Annual Gross Rents, or realize highest and best use through its tremendous redevelopment upside potential, through buying the neighbouring property and building a 5-storey, 20 unit apartment building.Talk to us to learn more and see the property for yourself!
Strategy
- LEGALIZE 5TH UNIT:
- Refinance with Commercial CMHC financing.
- Viability already confirmed by architect.
- Talk to us about other strategies!
- Buy and hold
- Owner occupied + rental income
- Redevelop to 5 stories
- Severance
- Investor package and additional details are available upon request.
Highlights
5PLEX (4 Legal Units)
1 Garage (Monthly rent: $200)
MAIN HOUSE (UPPER) (Monthly rent: $8,650)
6 Bedrooms
3 Bathrooms
MAIN HOUSE (LOWER) (Monthly rent: $1,650)
2 Bedrooms
1 Bathroom
REAR EXTENSION (3 Units) (Monthly rent: $3100, $3150, $3300)
3 x 3 Bedrooms
3 x 2 Bathroom
Renovations
- Full list of improvements available upon request.
- Ability to add significant GFA up to 5 stories (all as-of-right).
- Zoned for Mixed Use Commercial/Residential, meaning that retail or professional offices or clinics could easily operated out the Main Building facing Manning.
Location
- The Annex, considered by Volition to be the BEST investment neighbourhood in Toronto.
- Steps from Bloor, GreenP parking, and two subway stations, Yorkville, Christie Pits Park, University of Toronto, Toronto Western Hospital, Honest Ed’s Mirvish Village Redevelopment.
- 🚶♀️ Walk score – 85
- 🚇 Transit Score – 94
🚲 Bike Score – 100
Minimum Requirements:Minimum Cash Required: $1.3MNO PERSONAL MORTGAGE QUALIFICATION REQUIRED
(Talk to us about why!)
Next Steps
Contact Matthew Lee, Realtor or send an email to info@volitionprop.com to discuss how this property fits into your real estate investing goals.
Matthew Lee, Realtor