121 Sorauren Ave Toronto

This might be the coolest multi-plex in Toronto right now

Rarely does a multiplex come on the market that looks like it belongs in the pages of House & Home Magazine.

But 121 Sorauren Ave. was recently listed for $3,175,000 and if wasn't already fully tenanted we'd be moving in. 

The four-unit semi-detached house is a dream – both aesthetically and financially.  

121 Sorauren Ave. Toronto

The lobby. 

Firstly, it's actually a legal four-plex. Shocker, we know. Second, it was completely renovated and built to code with fire rated plumbing, HVAC, walls, etc. Something that's almost completely unheard of! 

121 Sorauren Ave. Toronto

The kitchen in the main floor unit. 

The listing also boasts an excellent capitalization rate of 4.5 per cent, which for the uninitiated is essentially how much return on the property you can expect it to make year over year. 

121 Sorauren Ave. Toronto

One of the bedrooms in the main floor unit with a brick fireplace. 

Additionally, it's worth noting that the average rent in the neighbourhood in 2023 is around $2,393 a month but when the main unit was last rented out in 2020 it was $3,200 a month. 

121 Sorauren Ave. Toronto

A kitchen in another unit with an exposed brick wall. 

It was also recently back up for rent at $4,975 a month, although it didn't find a tenant. However, if successfully rented out at that rate it would bring in almost $60,000 gross income a year from the main unit alone. 

121 Sorauren Ave. Toronto

Another kitchen. 

And it's easy to see why the rental asking price can be so high for the units.

121 Sorauren Ave. Toronto

The main floor unit open concept kitchen and living area. 

The main floor unit is a whopping 1,100 square feet with two bedrooms, two bathrooms and it has an additional 1,000-square-foot private backyard, deck and parking. 

121 Sorauren Ave. Toronto

A bedroom on the third floor. 

The wide plank flooring and exposed brick, combined with the modern finishes, are the perfect mix of old charm and functionality. 

121 Sorauren Ave. Toronto

Another bedroom with a walk-out to the backyard. 

The main floor also comes fully furnished, so its more like an executive suite than your typical rental. 

121 Sorauren Ave. Toronto

The basement unit. 

The other units are equally stunning, even the basement unit doesn't look soul destroying. 

121 Sorauren Ave. Toronto

One of five bathrooms. 

The other units in the building are currently rented at $3,500 a month and $2,600 a month. 

121 Sorauren Ave. Toronto

The living space in one of the upstairs units with a walk-out to a balcony. 

As far as location goes for a rental property, it couldn't be better. It's right in the heart of Roncesvalles, close to transit, the Gardiner, parks and shopping. 

121 Sorauren Ave. Toronto

One of five bedrooms in the house. 

And this latest asking price is significantly lower than what the owners were originally after.

121 Sorauren Ave. Toronto

The backyard and patio. 

When they first put the multiplex on the market they listed it for $3,595,000 – so $420,000 less is not bad for a professionally designed investment property. 

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