Mini apartment building that's a rare find in Toronto for sale at $2.8 million
Toronto has its fair share of duplexes and triplexes but a legal quadplex, sometimes called a fourplex, well now that's a rare find!
This one located just south of The Junction could be a the perfect opportunity for someone searching for a property to add to their real estate portfolio or just get into the real estate investing game.
That's because quadplexes are kind of the best kept secret in the real estate investing game, according to expert Andrew Herrig.
"The quadplex has some unique benefits as a real estate investment that you can’t find anywhere else," he says, explaining that it's the largest building you can buy while still qualifying for a single family mortgage.
As far as quadplexes' go this Toronto one is ideal.
There are three two-bedroom apartments on the above ground floors and a one-bedroom unit in the basement.
The units are spacious, bright and well maintained.
Additionally, the realtor notes that the apartment on the first floor was completely renovated this year.
That being said, the other units are in need of some upgrades, particularly the kitchens and bathrooms. It's also an older building so it's unclear if the structure will need work as well.
Other things to note about this building is there's coin laundry on-site, a three car garage and a landscaped backyard with a patio area.
Realtor Carol Foderick also points out in the listing that there's potential for more "intensification" with the addition of a storey/coach house.
Location wise it's super convenient being only half a block from the subway and High Park.
And all this could be yours for the tidy sum of $2,789,000. Not to shabby if you think about how much you could make off rent!
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