This small Toronto apartment building is only $3.6 million

Normally, when small apartment buildings come up for sale they're either fully tenanted or partially tenanted. 

And while that's usually a good sign that the building is desirable enough to have people want to live in it, it does dampen things financially. 

If you're looking to invest in a building and have a good return on your investment, it can be kind of a downer if the current tenants are paying below market rates.

One of the units. 

But good news, 314 Lakeshore Rd. W is a small apartment building in charming Port Credit with eight vacant units eagerly awaiting their new occupants. 

A bedroom in one of the apartments. 

The building boasts five charming one-bedroom units and three spacious two-bedroom abodes – which at market rates for the area could bring in an annual gross income of over $230,000.

A newly renovated bathroom. 

The other great thing about this building is all the units and common area have been freshly renovated, so you don't have to dump a ton of money in the building upfront to renovate it. 

The listing notes new carpets, new automated lighting and two brand-new hot water tanks. Huzzah hot showers for all!

A kitchen. 

The roof was also redone in 2010, so you have at least another 15 years before you have to replace that bad boy. 

Other things that might appeal to a savvy investor, there are 10 parking spaces, each unit comes equipped with an intercom system and there are security cameras discreetly stationed throughout the building ensuring a safe and secure environment for all.

The small kitchen in one of the units. 

Power woes? Not here. There's 100-amp service available in every unit, so residents can charge all their modern-day gadgets and appliances without a hitch. They can even vacuum and use an air conditioner at the same time without blowing a fuse. Ah the luxury!

And for a little extra income on top of the rental income, there's a common laundry room with a coin operated washer and dryer. 

The back of the building with parking. 

314 Lakeshore Rd. W is currently listed for $3,600,000.