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$1.7M total
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Asset Class
Multifamily
Size
—
Building class
C
Zoning
RA8 — Medium Rise
$ / SF
—
Occupancy
91%
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)
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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.
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.
Confidential diligence documents for 2275 QUEEN STREET E, Toronto (The Beaches).
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.