Boutique Residential Rental Building 204 KINGSTON ROAD | TORONTO, ON FOR SALE | 3-Storeys, 15 Suites BOUTIQUE APARTMENT BUILDING 204 Kingston Road, Toronto, ON Sought after Beaches Location Condo-quality upgrades Well-capitalized building Potential for additional units 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 KINGSTON 204 ROAD Existing Building Details Opportunity Avison Young has been mandated to advise and manage the sale of 204 Kingston Road, Toronto, ON (the “Property”). This is a unique opportunity to acquire a professionally managed boutique apartment building with significant capital upgrades. The property has been meticulously operated providing a premium rental environment for tenants. There is the potential to add two additional suites in the basement area of the building. The property operates efficiently at an approximate 27% expense Address 204 Kingston Road ratio. Three-storey, walk-up apartment Description building Proforma 11,760 sq.ft Existing GFA: Rental Revenue 7,950 sq.ft (in-suite GFA) Total Rental Revenue $ 321,276 Site Area 11,780 sq.ft Vacant Allowance (1.50%) $ 4,819 Suite Mix Type Units Average Market Parking $ 6,360 Rent Rent JR 1 6 $1,604 $1,800 Laundry $ 960 L1 6 $1,876 $2,075 Total Revenue $ 323,777 2 3 $1,964 $2,450 Operating Expenses Hydro Separately metered Property Taxes $ 28,505 Laundry On-site Insurance $ 4,000 Parking 8 spots at rear R&M $ 18,968 Environmental Clean phase 1 & 2 Wages & Benefits $ 6,750 Property Oben PM Inc.