It feels like just yesterday that the mid-rise residential building at 335 College St. was built. But according to a new listing, it's been eight years, so time sure flies. 

Now, the 25-unit building is up for sale for $14,000,000. 

So, is it worth the investment? Well, the building does have a lot going for it. 

The view from the street. 

On the ground floor, 335 College St. has 414 square feet of commercial space fronting College St. 

Right now, that space is rented out by House of Vapes at an unknown rate, but generally speaking, rental income from a retail space in Toronto can bring in anywhere from $40 to $150 per square foot per year. 

A one bedroom unit. 

Then, there's the rental income from the residential units. 

One of the hallways. 

335 College St. has 12 studio units, 11 one-bedroom units, and two two-bedroom units. 

Right now, market rate for a studio is about $1,941 a month, while a one-bedroom is $2,369 a month and a two-bedroom is on average $3,177. 

A bathroom in one of the units. 

However, looking at past rental listings 335 College St. is renting out studios for $2,000 a month, one-bedrooms for $2,500 a month and two-bedrooms for $3,100. 

So, quick math, that's over $57,000 a month in rental income. 

335 College St. offers security system and cameras within and around the building, a bike room and coin-operated laundry machines in building. 

The wild thing is that means one month of rental income basically covers the entire year of property tax.

A studio unit. 

And best of all, 335 College St. currently has zero vacancies, which is extremely rare, but when the location is as good as this it's unsurprising. 

335 College St. is right next to Kensington Market and also the T&T grocery store. 

335 College St. is super close to University of Toronto and all that downtown has to offer in terms of entertainment and amenities, making it an ideal location for students and young professionals. 

The loft bedroom in a one bedroom unit. 

However, if/when vacancies do happen, 335 College St. is also zoned to be a hotel or short-term rental, so units likely won't stay empty long. 

Units are bright and airy with new appliances and some have their own balconies. 

It's also worth noting that tenants pay for all their own utilities, which means running costs of the building are quite low. 

The kitchen in the studio unit. 

Further, since the building is only eight years old, it likely will not need any major repairs soon. 

In short, all signs point to this being a solid investment. The only downside, for investors at least, is that even though this is a new-build, it was completed in 2016, so it is still subject to provincial rent control. 

There's also a rooftop deck for tenants. 

So, depending on how long the tenants have been in the units, your rental income might be significantly less than the market rate.