2901 St. Clair Ave E Toronto

This entire 12-unit apartment building is listed for $5 million

As rent in Toronto skyrockets, getting in on the landlord game might not be such a bad idea. 

But it can be a risky choice, you can invest in a not-so-great building, you can have less than ideal tenants, there can be unexpected maintenance costs, and the list goes on. 

However, if you get it right it could be a very profitable investment. 

2901 St. Clair Ave. E Toronto

A living room in one of the units. 

And this purpose built 12-unit apartment building could be that golden ticket. 

2901 St. Clair Ave. E Toronto

New flooring has been installed in most of the units. 

Listed for $5,199,900, 2901 St. Clair Ave. E has a lot to offer including almost $250,000 a year in gross income and a four per cent capitalization rate (AKA cap rate).

2901 St. Clair Ave. E Toronto

One of the unrenovated units is vacant. 

For the uninitiated, a cap rate is an estimated rate of return on commercial real estate properties. A four per cent cap rate is considered to be lower risk. 

2901 St. Clair Ave. E Toronto

New stainless steel appliances in a renovated kitchen. 

Some other things that definitely lower your risk as a landlord is the fact that 10 out of 12 units have been gutted and fully renovated.

2901 St. Clair Ave. E Toronto

The building has a Viessmann boiler and the furnace is from 2002. 

They have new kitchens, bathrooms, floors, windows, appliances, plumbing, wiring and air conditioning. 

2901 St. Clair Ave. E Toronto

There are six parking places.

Realtor Errol Paulicpulle told blogTO that the common areas have also been upgraded and there's a 9,000-square-foot, three-car garage. 

2901 St. Clair Ave. E Toronto

Another unit. 

So it's a pretty sweet deal, especially when you learn tenants pay hydro. 

2901 St. Clair Ave. E Toronto

The building offers two two-bedroom units, nine one-bedroom units and one bachelor unit. 

"As the listing agent, I also offer potential purchasers property management and rental services making this ideal for an investor who wants a turn-key, 'hassle free' investment," added Paulicpulle.

2901 st clair ave e toronto

The building has a bus stop steps down the road and is a six-minute ride to Warden station. 

And when it comes to making money, low-risk and hassle-free is the dream in our humble opinion. 

Photos by

Tyso Media

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