You can buy an entire 18-unit Toronto apartment building for $7M right now

Owning an apartment building in The Annex, more specifically, Seaton Village, is kinda like taking candy from a baby. 

In the sense that getting tenants and collecting rent is beyond easy. 

The University of Toronto is right there, downtown is right there, and there's an abundance of transit options, shops, and restaurants galore. 

But maybe the best thing for an investor to know is that average rent prices in the neighbourhood are about $1,000 a month more than the rest of downtown.  

So, if you're looking for an easy win as a landlord, 38 Barton Ave. might just be the ticket. 

This apartment building features 18 units, 17 of which are two-bedroom, one-bath units, and one large one-bedroom unit. 

The laundry room. 

There is also laundry in the basement and four parking spots available at the back of the building. 

The kitchen in the renovated unit. 

The building is one of the old low-rise buildings, but it's in great shape, and some of the units have been renovated. 

The hallway.

In terms of potential income, listing agent Adam Parsons shared the financial breakdown and it's pretty decent. 

A bedroom in the renovated unit. 

Total annual rental income is $352,472, which would increase when the newly renovated unit, that is currently vacant, is rented out. 

A recently renovated bathroom. 

Additionally, if other units that are currently being rented out for below-market rates — for example, one of the units is only paying $796.99 a month in rent (we're jealous) — become vacant and are renovated, that income could increase even more.  

The expenses are reasonable at $117,376 a year, bringing your net operating income for the building to just over $200K. 

So, that puts the cap rate just under four per cent, which means this apartment building is a pretty solid investment. 

And with the way Canadian real estate works, you're never going to lose money on a property like this. 

The driveway to the parking spots. 

38 Barton Ave. is currently listed for $6,780,000.