12-Unit Apartment Building 96 TRETHEWEY DRIVE | TORONTO, ON
FOR SALE | 3-Storey Apartment Building
12-UNIT APARTMENT BUILDING 96 Trethewey Drive, Toronto, ON
Well maintained property Significant rental upside Steps away from Coronation Park Proximity to future Eglinton Crosstown LRT (2022)
For more information and to discuss pricing please contact The Multi-Residential Group:
David Lieberman†, MBA Jonathan Hittner* Principal Vice President 416.673.4013 416.436.4417 [email protected] [email protected]
† Neil Musselwhite† Eamonn McConnell Vice President Associate 289.795.4430 416.574.4890 [email protected] [email protected]
*Broker † Sales Representative TRETHEWEY 96 DRIVE
Existing Building Details Opportunity Avison Young has been mandated to advise and manage the sale of 96 Trethewey Drive, Toronto, ON (the “Property”). This is a unique opportunity to acquire a professionally managed 3-storey apartment building.
Proforma
Rental Revenue
Total Rental Revenue $ 169,067
Address 96 Trethewey Drive Vacant Allowance (1.00%) $ 1,691
3-storey, multi-residential Market Rent Reversion Upside Description $ 7,360 building. (12%) Laundry $ 1,200 Site Area 12,884 sq.ft (0.296 ac) Total Revenue $ 175,936 1 Bachelor Suite Mix 6 One Bedroom 5 Two Bedroom Operating Expenses
Hydro Bulk metered Property Taxes $ 16,754
Insurance $ 3,324 Parking 10 surface spots R&M $ 10,200 Windows 2018 Hydro $ 4,778 Laundry 2 washers, 2 dryers (owned) Water + Waste $ 7,831 Roof 2018 (Tar and Gravel) Gas $ 5,188 2 gas fired boilers Boilers Management Fee $ 6,967 (2013, 2018) Total Operating Expenses $ 55,040 1 domestic hot water tank Hot Water (2013). Vendor owned. NET OPERATING INCOME $ 120,896
Financing Treat as clear 12-Unit Apartment Building 96 TRETHEWEY DRIVE | TORONTO, ON
RENT ROLL
Unit No. Unit Type Unit Size (sf) Current Rent/Month 1 One Bedroom 630 $1,194.00
2 Two Bedroom 680 $1,144.00
3 Bachelor 425 $1,057.75
4 One Bedroom 630 $1,226.40
5 Two Bedroom 680 $1,800.00 (Vacant)
6 Two Bedroom 680 $1,161.85
7 One Bedroom 630 $996.45
8 One Bedroom 680 $1,093.90
9 Two Bedroom 680 $1,195.75
10 Two Bedroom 680 $1,114.05
11 One Bedroom 630 $1,150.85
12 One Bedroom 630 $953.90
Total 7,655 $14,088.90 12-Unit Apartment Building 96 TRETHEWEY DRIVE | TORONTO, ON
FLOOR PLANS Basement Floor Plan
First Floor Plan 12-Unit Apartment Building 96 TRETHEWEY DRIVE | TORONTO, ON
FLOOR PLANS Second Floor Plan 12-Unit Apartment Building 96 TRETHEWEY DRIVE | TORONTO, ON YORK
NEIGHBOURHOOD
The City of York was historically developed with mainly detached and semi-detached homes, but has more recently grown into a variety of residential, commerical and industrial subdistricts. The site fronts Trethewey Drive and is directly surrounded by several low-rise dwellings such as duplexes and triplexes and is situated directly above Coronation Park. The site’s convenient transit access to Eglinton Avenue, Highway 400 and 401 and a GO Rail Line (Eglinton Avenue West Station) will further encourage future development in the area.
Eglinton Avenue West Station Oakwood Station
Cedarvale Station
Fairbank Station
Caledon Station
Keelesdale Station Eglinton Avenue West
Trethewey Drive
96 TRETHEWEY DRIVE Trethewey Drive
Clearview Heights
OFFERING PROCESS Additional information is available upon request and written acknowledgement of confidentiality. Offers will be witheld until November 25th, 2020. For more information, please contact THE MULTI-RESIDENTIAL GROUP
Pricing David Lieberman†, MBA The property is being offered for sale at a price of $3,750,000. Principal 416.673.4013 [email protected] All expressions of interest may be submitted in the form of a Letter of Intent or an Agreement of Purchase and Sale and Jonathan Hittner* Vice President should include the following: 416.436.4417 • Address and contact info [email protected] • Purchase Price Neil Musselwhite† • Deposit Structure Vice President • An indication of material terms required by the purchaser 289.795.4430 [email protected] • Evidence of the purchaser’s financial ability to complete the transaction Eamonn McConnell† Associate 416.574.4890 [email protected] avisonyoung.ca *Broker † Sales Representative
Avison Young Commercial Real Estate (Ontario) Inc., Brokerage 18 York Street, Suite 400, Toronto, ON M5J 2T8 T: 416.955.0000 F: 416.955.0724
The information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified and as such, cannot be warranted nor form any part of any future contract.