You can buy this entire apartment building for $6 million in Toronto
For $6 million you can buy a lot of things. In fact, you could get a really stunning mansion in Rosedale for that kinda coin.
But if you're more of an entrepreneurial-type, you might want to check out this boutique apartment building.
Located at 353 Oakwood Ave., this small nine-unit building has just dropped in price to $5,989,800.
Which granted, is still expensive, but it is more than $1 million less than when it first hit the market back in March this year.
According to the listing, the exterior of the building is the only thing that's original.
The rest of the building has been completely renovated and refreshed.
There's new heating, cooling, plumbing, appliances, and more.
Within the building there are five two-bedroom units, as well as four three-bedroom units.
The three-bedroom units are lofts with soaring 18-foot ceilings and tons of natural light.
Honestly, if they were to sell the individual units these condos would be snapped up quickly, especially since each unit has ensuite laundry, and Bell Fiber Internet.
The downside to this building as far as rental potential goes is there's only three parking spots, none of which are covered, and you're not super close to the subway.
But realtor Jennifer Rothschild told blogTO that the LRT is within walking distance and the neighbourhood has one of the highest number of bike commuters.
But apart from that, this building seems like a great investment opportunity for someone.
And with average rent prices sky rocketing, whoever buys this stands to make a decent income. Especially, considering the tenants pay their own utilities.
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