38
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$2,349,000
Est. payment /mo
7 BD
5 BA
Active
50A Lanark AVE Toronto C03, ON M6C 2B4
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UPDATED:
11/27/2024 04:21 PM
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500-3000
MLS Listing ID C10929883
Style 3-Storey
Bedrooms 7
Tax Year 2024
Property Description
Newly constructed, custom 3-unit property with primary home (main house), legal basement suite and rear coach house. The primary home has 4-bedrooms, 4-bathrooms (50B Lanark main unit rented with multiple offers in May 2024 for $5,000/month). The 3-bedroom Rear coach house is leased for $3,200/month, and the 2-bedroom basement suite, which is accessible by a separate exterior entrance at the rear, is leased for $2,300/month. Approximated annual rent of $127,800 and net operating income of $116,410 (see financials attachment to this listing). The primary home has been left vacant to provide optionality to the buyer to decide whether to live in the main unit or rent it out. Because of the unique separation between the primary home and the basement suite/coach house, Buyers can choose to live in the primary home while earning substantial income from the basement and coach house. This property is not subject to Ontario rent increase limits as it is newly constructed, and rent prices can be increased annually to levels set by the Landlord. The primary home has a Main floor Powder Room and mud-room, Custom-built eat-in kitchen with floor to ceiling pantry for ample storage. Oversized Master Bedroom With tons of natural light, His and Her Custom millwork Closets, and master bedroom ensuite with a Free-Standing Tub, Double Vanity and an oversized glass shower. Large private Third floor balcony; inverted metal standing seam roof. The property is steps to shops on Eglinton, Cedarvale Park, Leo Baeck Day School and Eglinton Station/Crosstown.
Location
Province ON
County Toronto
Community Humewood-Cedarvale
Area Toronto
Region Humewood-Cedarvale
City Region Humewood-Cedarvale
Rooms
Family Room Yes
Basement Separate Entrance, Apartment
Kitchen 3
Separate Den/Office 2
Interior
Interior Features None, Separate Hydro Meter, In-Law Suite, In-Law Capability
Cooling Central Air
Fireplace No
Heat Source Gas
Exterior
Parking Features Lane
Garage Spaces 1.0
Pool None
Roof Type Asphalt Shingle,Metal
Total Parking Spaces 1
Building
Foundation Poured Concrete
Listed by RIGHT AT HOME REALTY
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