43-45 Glen Manor Dr. Toronto

This $3.5 million Toronto house is actually six apartments

Toronto rental prices are up yet again, which means there's a ton of people probably thinking, "Wouldn't it be great to capitalize on that and become a landlord myself?"

Well, if you're one of those wannabe landlords, there's a pretty good deal going down in the Beaches. 

Enter: 43-45 Glen Manor Dr.

It may looks like a home, but it's acutally six two-bedroom apartments. 

43-45 Glen Manor Dr. Toronto

The living room in one of the two-bedroom units. 

Unlike many multiplexes on the market right now, this one doesn't need a massive overhaul or renovation. 

43-45 Glen Manor Dr. Toronto

An open concept kitchen and living area. 

The building was renovated only three years ago to add vaulted ceilings, modern fixtures, new lights, and new appliances. 

43-45 Glen Manor Dr. Toronto

One of the lower level units. 

Additionally, ensuite laundry has been added to each unit and the basement units were underpinned (read: lowered) to give them seven-foot ceilings. 

43-45 Glen Manor Dr. Toronto

Another kitchen in one of the apartments. 

The place is essentially turnkey — and you don't even have to pay utilities. 

43-45 Glen Manor Dr. Toronto

Lots of light from the windows. 

The main floor and lower level units all share the utilities, with the upper two apartments separately metered. 

43-45 Glen Manor Dr. Toronto

Location-wise, the building is close to TTC, downtown, and the beach. 

And while all that's nice, most future landlords want to know what the return on their investment will be. 

43-45 Glen Manor Dr. Toronto

There are four rented hot water tanks. 

When this place last sold in 2019 for $2,240,000, it boasted an annual income potential of $120,000

43-45 Glen Manor Dr. Toronto

The building comes with six fridges, six stoves, and six dishwashers.

Now it's on the market for $1 million more, with average rent for an unfurnished two-bedroom apartment in that neighbourhood going for just under $3,000 a month.  

43-45 Glen Manor Dr. Toronto

One of the bathrooms. 

Quick math: that's a gross income of over $200,000 a year. 

43-45 Glen Manor Dr. Toronto

A main floor unit. 

And the best news is the multi-plex actually recently dropped it's asking price by $500,000. 

43-45 Glen Manor Dr. Toronto

You're steps to the lake and the boardwalk from Glen Manor Dr. 

Last year, it was listed for $3,999,900, but after more than 100 days on the market with no buyer, they've now re-listed the property for $3,499,000

43-45 Glen Manor Dr. Toronto

Outdoor space. 

So as long as you sit on this property for a bit and can get market rental rate for the units, this seems like a decent investment opportunity – that is, if you can afford the down payment and mortgage. 

43-45 Glen Manor Dr. Toronto

There is plenty of parking at the back of the property. 

But if this place doesn't work out, apparently you can rent out a derilict shed for $1,200 a month in this city so, uh, may the odds be ever in your favour? 

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