$8,449,000

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97 Lee Avenue, Toronto (The Beaches) - Multi-family for Sale

97 Lee Avenue, Toronto (The Beaches), Ontario, M4E2P2

17 beds11 baths10 parking75 × 125 ft (9,375 sq ft) lot sizeListed 51 days ago

Overview

This multi-family property in Toronto is for sale.

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Description

Boutique living redefined in the heart of the Beaches. This iconic address boasts 6 multi-story lofts and 4 exquisite suites (10 large suites in total), following a significant two-year building restoration program (2021-25). With millions invested, over 65% of the property's square footage has been meticulously upgraded to luxury standards. All remodeled suites immediately captured significantly higher rents, proving that investment case to continue with luxury renovation plans as tenants churn. Tenants desire large multi-level lofts, complete privacy, luxury renos, with surface parking and no elevators! Nestled on a spacious 75x125 ft lot, the building showcases 11,000 sq ft of living space, complemented by 10 surface parking spots, 10 personal storage lockers, and various alfresco areas. With a blend of contemporary luxury, timeless exposed brick and beam, elegant hardwood floors, and abundant natural light, steps to Kew Gardens, the boardwalk, Financial District and More. Suites 1,3,4,8,6,10 were completely remodeled to luxury status (2021/25). Suite 10s renovation and restoration are complete, making it the newest finished unit. (id:66096)

Property Details

MLS®: E13780770
Property Type: Multi-family
Zoning: Multi-Residential
Bedrooms: 17
Beds (above / below): 9 above · 8 below
Bathrooms: 11
Parking: 10
Lot Size: 75 × 125 ft (9,375 sq ft)
Frontage: 75 ft
Storeys: 3
Basement: Apartment in basement, N/A
Heating: Baseboard heaters, Electric
Cooling: Wall unit
Garage: No Garage
Fireplace: Yes
Property Tax: $22,203.33/yr
Listed: 51 days ago

Rooms

Main level

Kitchen: 3.85 x 2.43 meters
Living room: 9.08 x 4.97 meters
Office: 2.74 x 2.07 meters
Kitchen: 3.85 x 2.38 meters
Living room: 6.57 x 3.85 meters

Second level

Bedroom 2: 3.42 x 2.71 meters
Bedroom: 4.05 x 3.11 meters
Bedroom 2: 3.72 x 2.74 meters
Bedroom 3: 3.67 x 2.74 meters
Bedroom: 4.1 x 2.71 meters

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer, Window Coverings, Water Heater
Flooring: Hardwood
Foundation: Block, Brick
Exterior: Brick

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

51d

Toronto (The Beaches) listings, avg age

50d

List price

$8.45M

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 17-bed multi-family in Toronto (The Beaches) is available now. Want me to connect you with the agent or keep you posted on any price updates?

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Listed by PROPERTY.CA INC. · LEONARD FRIDMAN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M4E)

This home lists at $8,449,000, about 75.4× the local median household income of $112,000.

Carrying it typically needs a household income of about $1,650,385 (20% down, 25-yr amortization, stress-tested) — roughly 1374% above the area median.

Median household income: $112,000
Population: 25,473
Median age: 42.8
Owner / renter: 64% / 36%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA M4E)

$8,449,000

For sale

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Full Cost Breakdown

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Down Payment20% · $1,689,800

Min 20%50%

Mortgage payment$36,033/mo

Property tax (est.)$1,850/mo

Total monthly$37,883

Cash Needed to Close

Down payment (20%)$1,689,800

Land transfer tax$395,400

Est. closing costs$27,847

Total cash needed$2,113,047

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97 Lee Avenue, Toronto (The Beaches) - Multi-family for Sale

Description

Property Details

Rooms

Features

Services

Market Timing

Location

Nearby Places

Neighbourhood profile (M4E)

Book a showing

Full Cost Breakdown