$2,999,900
Toronto
50 Waniska Avenue, Toronto (Stonegate-Queensway), Ontario, M8Y1P9
This multi-family property in Toronto is for sale.
Truly outstanding investment opportunity in Toronto's highly desirable Humber Bay-Stonegate-Queensway neighbourhood. Purpose built Apartment Building in one of Etobicoke's premier rental locations, offering strong Tenant demand, outstanding long-term appreciation potential & immediate income optimization. This is a rare opportunity to acquire fully Vacant Building with flexibility to establish market rents from day one. Based on projected market rents, property offers the potential to generate an estimated Net Annual Income of approx. $196,000 representing an attractive projected Cap Rate of 6.1%. This well-maintained Building features two 3-Bdrm & four 2-Bdrm Apartments, several have been updated, bright & spacious front & rear common hallways, laundry rm, mechanical rm, 5 storage lockers, 6 garage parking spaces & 6 surface parking spaces. Each Apartment offers spacious, bright, sunny rooms with practical well designed layouts, featuring front Foyer with double guest closet & linen closet, family-sized Kitchen with Breakfast Area, large Living Rm, separate Dining Rm, updated 4-pc Bathroom with towel warmer, generously sized Bedrooms, some with 2 double closets & oversized windows. Ideally situated on a peaceful, tree-lined residential street just north of The Queensway corridor, offering immediate access to wide array of grocery stores, cafés, restaurants & everyday amenities. The neighbourhood is served by highly regarded schools & within walking distance of public library, parks & several early childhood daycare centres. Residents appreciate close proximity to Humber River Trail System, Humber Bay Park & the shores of Lake Ontario. Excellent transportation options include nearby Humber Loop, providing streetcar service between South Etobicoke & downtown Toronto, TTC bus routes connecting to nearby subway stations, Mimico GO Station at Royal York Rd & quick access to Gardiner Expressway, Highway 427 & QEW offering seamless connectivity throughout Toronto & GTA. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 96 days on market, against an average age of 50 days across the listings currently for sale in this city
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.
This 14-bed multi-family in Toronto (Stonegate-Queensway) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $2,999,900, about 33.0× the local median household income of $91,000.
Carrying it typically needs a household income of about $585,985 (20% down, 25-yr amortization, stress-tested) — roughly 544% above the area median.
Source: Statistics Canada, 2021 Census (FSA M8Y)
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Loading rates, 30-yr amortization
Cash Needed to Close
Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice
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