For Sale · Multifamily

MAIN N - 207A COWAN AVENUE, Toronto (South Parkdale)

MAIN N - 207A COWAN AVENUE, Toronto (South Parkdale), ON M6K1L6

Price on request

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA9 — High Rise

$ / SF

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Occupancy

91%

About this property

Welcome to one of Parkdale's most unique and unforgettable residences. Tucked away at 207A Cowan Ave, this extraordinary loft offers over 3,000 sq. ft. of character-filled living space in a former Bell Telephone warehouse converted into authentic loft-style residences. Soaring ceilings, dramatic proportions, exposed architectural character and oversized windows create an incredible sense of space and fill the home with natural light. Offering 2 generous bedrooms plus a versatile den/office/studio/bedroom, this one-of-a-kind unit provides exceptional flexibility for living, working and entertaining. The impressive open-concept main level is complemented by a mezzanine overlooking the space below, featuring additional living and family room areas. The spacious upper bedroom includes a walk-in closet, while abundant built-in storage, multiple walk-ins, a pantry and a full laundry room provide the functionality rarely found in a loft. Known as "The Elevator Suite," a nod to the building's former freight elevator, the residence is rich in history and personality. A separate entrance from the Milky Way laneway adds another distinctive element to this truly special property. Set in the heart of Parkdale, just south of vibrant Queen West, you're steps to some of Toronto's best restaurants, cafés, shops, parks and transit, with easy access to King West, Roncesvalles and the waterfront. This isn't your typical Toronto rental it's an authentic, expansive and truly unique loft for those looking for something with space, history and soul. Hydro is split with the tenant above. Pictures taken prior to tenant occupancy. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy91%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$77K

Annual cash flow

$-6K

Cash-on-cash

-1.26%

DSCR

0.93

Going-in cap

5.16%

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

57,041

Households

21,661

Median income

$130,500

Median age

37.8

Daytime population

69,356

5-yr growth

5.5%

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

Secure deal room

Confidential diligence documents for MAIN N - 207A COWAN AVENUE, Toronto (South Parkdale).

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.