Sold! Over Ask!
$2,500,000
This property provides the best of both worlds! A turn key, fully tenanted luxury triplex for stable income, and the opportunity to add value by building a 1,200 square foot 2 storey laneway house, the perfect investment property for the seasoned or first time real estate investor.
It has been completely renovated from top to bottom with no expense spared ($900k in renovations). Everything in the house is brand new including: kitchens, bathrooms, electrical, plumbing, windows, sound proofing…even the beams are brand new. The basement has been underpinned and strengthened to allow for the addition of a 3rd floor.
Currently generating $10,000/month in rental income with 3 self contained units:
Main Floor – 3 Bed 2 Bath, ensuite laundry – $4,100 + utilities
Upper Floor – 3 Bed 2 Bath, ensuite laundry – $3,900 + utilities
Lower Floor – 1 Bed 1 Bath, ensuite laundry – $2,000 + utilities
The laneway housing potential for this property allows the construction of a swanky two storey, 2 beds and 2.5 bath.
Current
$10,000
monthly income
$109,000
NOI
4.36%
Cap Rate
$28,000
cash flow
Potential
$14,300
monthly income
$161,443
NOI
5.57%
Cap Rate
$80,400
cash flow
Potential Year 1 Return:
$816,168 -> 72.91%
*Cashflow + Principal Payments + Surplus Value from Laneway Build + 2% Appreciation
Schedule
a personal
tour
Download Investment Package
Access the complete investment package including financials and laneway prospectus.
