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$1,600,000
50 GROVE AVENUE
Toronto, Ontario, Ontario, M6J3B6
MLS® Number: C12152177
Property description
Talk about pride of ownership, this one scores high across all categories. First, you'll fall in love with the gorgeous victorian townhouse curb appeal. Next, it makes great money sense, as you're pulling in approximately $90,000 in NET income and a 5.5% Cap Rate. Tenant quality is also fantastic as it's a true downtown 4plex with all units above ground, attracting professional applicants. Detached garage parking off the laneway clears the path for your potential LANEWAY HOUSE with incredible rental income potential and upgrading to a 5-Plex. Finally, Trinity Bellwoods is arguably Toronto's most vibrant neighbourhood, so you've definitely taken care of location, location, location. I would say overall, the property condition is good and there have been plenty of renovations, including a full renovation of third floor unit and front unit on the second floor, kitchens, bathroom, flooring, paint, etc. Some updates on the second floor rear unit. The main floor tenant has been there a while, so not much there. The basement could use finishing to maximize rental potential. The electrical is copper, but updating to a 200 amp system is worth it, furnace, roof and A/C are mid life and the garage is original construction. Recent 2025 improvements to the common areas including new front porch. You can find the full list pf features and improvements attached. This property is also great to move in rent out the remaining apartments. After a minimum downpayment you could move yourself into a large two bedroom, main floor unit with a massive backyard and garage parking. After paying your mortgage, property tax and utilities and subtracting for your rental income from the other three units, you could be living, all in, for far less than market rent. This property has mass appeal in Seller markets, so take this opportunity to reward yourself with a savvy investment decision. It's not worth waiting anymore as this one checks all of the boxes.
Building information
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Courtesy of ROYAL LEPAGE ESTATE REALTY
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