Business For Sale · Multifamily

2275 QUEEN STREET E, Toronto (The Beaches)

2275 QUEEN STREET E, Toronto (The Beaches), ON M4E1G5

$1.7M total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

91%

About this property

Terrific Opportunity to Acquire a Well Maintained Semi-Detached Purpose Built Solid Brick Duplex (Main Floor 2 bdrm; 1 bath; parking; 1000+ sq ft)(2nd and 3rd floor 3bdrm; 2 bath with 2 car parking; 1300 sq ft) plus two accessory units, all in a great Queen St. East Prime Beach location in the very heart of the neighbourhood. With this CR Zoning (Commercial/Residential Uses), this property is perfect for a variety of uses, including (but not limited to) Professional Office(s) - Perfect for Live-in and Rent-Out; Work from home uses or keep as an sturdy Investment property. A unique flexible floor plan allows for multiple units, with 4-car parking at the rear of the building via wide public laneway (2 in Garages and 2 in front of garages). The Main Floor 2-bdrm unit offers a large rear private deck & front porch balcony. The 2nd/3rd floor (Owner's suite) boasts 3 bdrms & 2 baths, encompassing the bright 3-floor addition, with walkout to the balcony with great views overlooking Queen St. The basement has good height and currently contains 2 units (1 vacant) including a small bachelor apt. The long-time owners have upgraded many features, yet retained the lovely character including the wonderful oak trim & hardwood floors. This is one of the last remaining purpose-built duplexes on Queen St East, and is an exciting option for a savvy Investor. *Vacant Possession Possible**OFFICIAL PLAN DESIGNATED - MIXED USE (INCLUDING RESIDENTIAL) UNDER FORMER TORONTO BYLAW 438-86 **FLOOR PLANS IN ATTACHMENTS***Don't miss this Opportunity! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.70M
Down payment30% · $510K
Interest rate6.25%
Amortization25 years
Occupancy91%
Expense growth2.5%

Monthly debt service

$8K

Projected NOI

$55K

Annual cash flow

$-39K

Cash-on-cash

-7.62%

DSCR

0.59

Going-in cap

3.25%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

106,975

Households

47,475

Median income

$108,000

Median age

31.5

Daytime population

97,192

5-yr growth

3%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 2275 QUEEN STREET E, Toronto (The Beaches).

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.