6 Lapp Street
Rockcliffe-Smythe, Toronto, M6N 3W6
FOR SALE
$1,529,000
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6 + 1
BEDROOMS5
BATHROOMS2 + 1
KITCHENS10 + 2
ROOMSW13207998
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Property Description
Investor Alert! Opportunity Knocks for End Users as well on this completely Gutted, Restored w/Addition & Newly Renovated Duplex w/a Basement Apt. Main & Upper Units Currently Leased at $3,300/mo & $3,200/mo Respectively. Basement Suite $1,450/mo. Gross Annual Income $95,400. Expenses @ 6% approx.(Property Taxes & Insurance) & Tenants Pay Own Utilities. Working at a 5.6% CAP Rate! A Detached 2 Car Garage gives you the opportunity to Build a Laneway Suite(Owner has Drawings/Plans). Everything is Brand New Inside and Out! All New Stucco Exterior! All Units have their own Private Separate Entrances & In-Suite Laundry. The Main Floor Apartment is a New 892 sq ft - 3 Bedroom - 1.5 Baths with 2 Separate Entrances & access to Private Yard. The Upper Apartment is a new 889 sq ft - 3 Bedroom - 1.5 Baths. The Basement Apartment is a renovated 1 Bedroom -1 Bath Suite. Each Apartment has it's Own High Efficient Heating/Cooling Mini-Split Systems Separately Metered so each Tenant Pays their Own Per Use Hydro Bills! Water Utility is divided 3 ways (40-40-20). Detached 2 Car Garage Parking w/Laneway Access. The Property is Easy to Rent with TTC access a very short walk to St Clair West Streetcar which go direct to St Clair West & Yonge Subway Lines. A short drive to Highways 401/400. Walk to theStockyards Mall and Local Shops, Restaurants, Enjoy all Corso Italia & Junction Neighbourhood Amenities. Fantastic Opportunity to Grow your Real Estate Portfolio with a Legal Duplex w/3units & a Great R.O.I. Everything is Brand Spanking New Inside & Out!
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Nearby Intersections
Property Features
Carpet Free
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Property Details
Address
6 Lapp Street
Community
City
Postal Code
M6N 3W6
Property Type
Duplex, Duplex
Lot Size
25' x 120'
Taxes
$6,221 (2026
Basement
Apartment
Heat Type
Forced Air
Heat Source
Electric
Water
Municipal
Garage Type
Detached
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Listing contracted with Oak And Key Real Estate Brokerage, Inc.
An excellent opportunity to acquire a well-performing multi-residential property in Toronto's evolving and highly desirable Oakwood Village neighbourhood. 279 Lauder Ave offers investors a stable, income-generating asset in a community experiencing strong rental demand and ongoing revitalization. This very well-managed property has been meticulously maintained by an experienced owner, reflecting pride of ownership and operational efficiency. Recent upgrades include all windows and blinds, exterior doors, driveway and parking areas, composite back deck, refreshed front deck, front stairs and railings, bathrooms, electrical panels, tankless water heater, and most appliances. Current rents are at market level and investors benefit from a **strong cap rate of 4.53%**, with minimal need for repositioning.Tenants benefit from efficient floorplans and excellent transit access, with the St. Clair streetcar just an 8-minute walk away, connecting seamlessly across the city. The property is also steps from the lively St. Clair West corridor, known for its diverse mix of cafés, restaurants, and local shops, enhancing everyday convenience and lifestyle appeal.This well-managed asset reflects pride of ownership and long-term care, making it an ideal turnkey addition to any investment portfolio. With strong fundamentals, desirable location, and steady income, 279 Lauder Ave is positioned for continued tenant demand and future growth.
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