$3,490,000

For saleJust listed

293/295 Indian Grove, Toronto (High Park North) - Multi-family for Sale

293/295 Indian Grove, Toronto (High Park North), Ontario, M6P2H6

4 parking5,200 ft²Listed Yesterday

Overview

This multi-family property in Toronto is for sale offering roughly 5,200 sq ft of space. It has been on the market 1 day, fresher than the Toronto average of 59 days.

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Description

High Park legal 6-plex plus shovel-ready garden suites! 4 two-bedroom units and 2 large, bright one-bedroom lower level units, 4 of 6 renovated, 100% leased with in-place NOI of $144,860. 2 BR units approx 892 Sq Ft & 1 BR units are approx 794 Sq Ft. COA approved and building permits issued (transferable) for two new rent-control-exempt garden suites: a 3 bed (1,137 sf) and a 2 bed (971 sf). Design, permit fees and DCs already paid, and a fixed-price CCDC build quote in hand - the approvals work is done, grow from 6 units to 8. Additional upside as two legacy 2-bedroom units turn over to market. Rare 4-car detached garage and private drive. All units with separate upgraded electric panels. Coin laundry. Exceptional investment and solid money maker on a nice lot. Short walk to Bloor shops, Keele subway station and High Park. Own a stabilized 6-plex today and an 8-plex tomorrow. Great opportunity to own a High Park North asset. (id:66096)

Property Details

MLS®: W14141202
Property Type: Multi-family
Zoning: R(d0.6*737)
Parking: 4
Interior Size: 5,200 ft²
Frontage: 47 ft
Building Area: 5,200 ft²
Heating: Radiator
Cooling: None
Property Tax: $15,308/yr
Listed: Yesterday

Features

Appliances: Washer, Dryer, Microwave, Hood Fan

Services

Water: Municipal water

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Toronto (High Park North) listings, avg age

59d

Price / ft²

$671

List price

$3.49M

Homes here sell faster than most markets

Sold homes in this market spent an average of 33 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell below asking price

Homes in this market sold for an average of 94.6 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This multi-family in Toronto (High Park North) has been listed for 1 day, which is 58 days fresher than the city average of 59. Act while there is still low competition.

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Listed by VALERY REAL ESTATE INC. · NATHANIEL CHIU

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M6P)

This home lists at $3,490,000, about 40.6× the local median household income of $86,000.

Carrying it typically needs a household income of about $681,719 (20% down, 25-yr amortization, stress-tested) — roughly 693% above the area median.

Median household income: $86,000
Population: 39,870
Median age: 39.2
Owner / renter: 43% / 58%
Avg. household size: 2.1

Source: Statistics Canada, 2021 Census (FSA M6P)

$3,490,000· $671/ft²

For sale

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Full Cost Breakdown

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Down Payment20% · $698,000

Min 20%50%

Mortgage payment$14,884/mo

Property tax (est.)$1,276/mo

Total monthly$16,160

Cash Needed to Close

Down payment (20%)$698,000

Land transfer tax$147,450

Est. closing costs$12,970

Total cash needed$858,420

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