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204 Kingston Road, Toronto, on for SALE | 3-Storeys, 15 Suites

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204 Kingston Road, Toronto, on for SALE | 3-Storeys, 15 Suites 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. Management Heat $ 7,000 Financing Treat as Clear Hydro $ 3,100 Water $ 4,500 Management Fee $ 12,631 Total Operating Expenses $ 85,453 NET OPERATING INCOME $ 238,133 Boutique Residential Rental Building 204 KINGSTON ROAD | TORONTO, ON The Property • 12/15 Suites have been turned over and extensively renovated • Potential to add units in the building • On-site parking, laundry and lockers QUALITY FINISHES INCLUDE Designer kitchens with two-tone cabinetry European-style stainless steel appliances Caesarstone counter tops Durable vinyl flooring with a contemporary hardwood look Boutique Residential Rental Building 204 KINGSTON ROAD | TORONTO, ON SUITE LAYOUTS JR1 Bedroom Large 1 Bedroom 2 Bedroom Boutique Residential Rental Building 204 KINGSTON ROAD | TORONTO, ON FLOOR PLANS Main Floor Second Floor Third Floor Basement Boutique Residential Rental Building 204 KINGSTON ROAD | TORONTO, ON RENT ROLL - JUNE 2020 Unit No. Unit Type Current Rent/Month 101 One Bedroom - Large $1,995.00 102 One Bedroom - Small $1,750.00 103 Two Bedroom $2,400.00 104 One Bedroom - Small $1,800.00 105 One Bedroom - Large $1,995.00 201 One bedroom - Large $2,075.00 202 One Bedroom - Small $1,075.00 203 Two Bedroom $2,450.00 - Vacant 204 One Bedroom - Small $775.00 205 One Bedroom - Large $2,075.00 - Vacant 301 One Bedroom - Large $2,095.00 302 One Bedroom - Small $1,750.00 303 Two Bedroom $1,043.00 304 One Bedroom - Small $1,800.00 305 One Bedroom - Large $1,020.00 Boutique Residential Rental Building 204 KINGSTON ROAD | TORONTO, ON UPPER BEACHES NEIGHBOURHOOD The property is well located in east-end Toronto, in the Upper Beach area. A very desirable neighbourhood that is just a few short steps within the lakefront boardwalk and beach. With pedestrian-friendly sidewalks, nearby green spaces, and many amenities including shops and restaurants, it offers easy access to downtown by streetcar just steps from home. The building’s unbeatable location makes it one of the most sought-after residential buildings in the area. BEACH HILL UPPER BEACHES Gerrard St E JONES AVE GREENWOOD Woodbine Ave COXWELL AVE COXWELL Queen St E Kingston Road THE BEACH TRIANGLE Dundas St E THE BEACHES WOODBINE PARK Eastern Ave Lake Shore Blvd E 204 KINGSTON ROAD Boutique Residential Rental Building 204 KINGSTON ROAD | TORONTO, ON SURVEY OFFERING PROCESS Offers will be reviewed on an “as come” basis. Additional information is available upon request Please contact the listing team with any questions. and written acknowledgement of confidentiality For more information, please contact THE MULTI-RESIDENTIAL GROUP Pricing David Lieberman†, MBA The property is being offered for sale at a price of Principal $6,300,000. 416.673.4013 [email protected] All expressions of interest may be submitted in the form of Jonathan Hittner* a Letter of Intent or an Agreement of Purchase and Sale and Vice President should include the following: 416.436.4417 [email protected] • Address and contact info • Purchase Price Neil Musselwhite† • Deposit Structure Vice President 289.795.4430 • An indication of material terms required by the purchaser [email protected] • Evidence of the purchaser’s financial ability to complete † the transaction Eamonn McConnell Associate 416.574.4890 [email protected] avisonyoung.ca † Avison Young Commercial Real Estate (Ontario) Inc., Brokerage *Broker Sales Representative 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..
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