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Fourplex for sale Toronto

I just got the nod from one of client to list their fourplex for sale in Cabbagetown Toronto.

The property is currently generating $51,143 in Net Operating Income and is priced at a cap rate of 5% for $1,050,000.  This property isn’t listed in the market yet so this is not available to the general public.  We aren’t even cooperating with any real estate till the property will be listed on MLS later next week.

What this means is there is a short window where our subscribers can get exclusive front of the line access to this listing to see it and make an offer.

The seller is looking for qualified buyers that can close the transaction quickly.  Following are some pictures of what the property currently looks like:

 

There are four units in the building off which three are renovated.  There is also a basement unit which isn’t rented and needs to be renovated.  This is the FIFTH unit.  Renovating this unit will give you an additional $8,000 to $12,000 of income per year.  The cost to renovate the unit will be approximately $20,000 to $25,000.  There is already an existing washroom and kitchen in the basement.  It needs to be renovated and rented.

The price of $1,050,000 is based on actual rental income of four units and if the potential income of the basement ($10,000) is taken into consideration, the building is being priced at a projected cap rate of 5.82%!!!

Similar fourplex for sale Toronto are all selling for less than 5% cap rates and in multiple offers.  The seller will be listing the property on the open market while some minor items are being corrected at the building (mostly clean up) and being offered to you.

If you’re interested, please send me a message and I can send you the confidential investment review.

Agents: Please don’t send me an email.  The property will be coming on the market next week if it’s not sold.

 

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