1351 Queen St E

Welcome to 187 Fern Ave, located in the trendy Roncesvalles neighbourhood in Toronto. Only a 10 minute walk to High Park, steps from the local school and all amenities. An amazing investment opportunity - this multi-residential property (5 suites) includes 4 separate units PLUS a detached studio laneway suite. Newly renovated throughout - each unit has its own laundry (washer & dryer combo) and a full kitchen. Updates include; New furnace New roof, skylights, fascia, soffits & eaves, New flat roof & skylight on the laneway suite, In-suite laundry in each unit (high-end combination washer/dryer) New exterior siding, New fence surrounding the backyard, Freshly painted throughout, 100 amp panel (in each unit).

Incredible Investment Opportunity. Two Purpose Built Semi-Detached Triplexes with Separate Legal Titles. Gross Income approximately $128,400, net income before maintenance & snow removal $111,270. 4.5% Cap Rate. Highly sought Danforth Area in Jackman school district. Steps to Broadview Subway and Streetcars, LCBO, Shoppers, No Frills, Restaurants. Easy fast access to DVP. 6 parking spots accessed via laneway. 5 of 6 units extensively renovated in 2015 and 2016 with contemporary finishes including hardwood floors, tiles, LED pots and light fixtures, S/S appliances, S/S kitchen sinks with stylish faucet & bath fixtures. Interconnected Smoke Detectors. 200 Amp Service in each semi-detached triplex, with subpanels in each unit. The roof was re-shingled in 2017. New windows and doors installed in 2015 & 2016. Landscaped front with stone staircase and walkway. Each unit has front and back entry / exit.

2.91% assumable mortgage due June 2030 with an extremely low monthly payment of only $7,988! This turn key six-plex contains 5-two Bedroom units and 1-bachelor unit. Building and units were fully renovated in 2019, down to the studs. All units fully renovated throughout with quality, long lasting finishes including new kitchen, bathrooms, radiators, floors, appliances, in-wall AC units and in-suite washer/dryer. The building has new electrical & plumbing throughout, furnace, on-demand hot water, FOB entry and security cameras. Essentially a no maintenance building. All units fully tenanted, at market rent. A once in a lifetime opportunity to go back in time and buy with low rates. Individual hydro meters. 5 car parking. $500,000 of interest rate savings over the remaining term of the mortgage (5 years) using todays rates.

Attention All Investors, Developers & Opportunity Seekers! This Property Offers A Rare Unique Chance To Develop A Multi-Unit Residential Project With Fully Approved Building Permits For Five Residential Units. The Interior Is A Blank Canvas, Completely Empty And Ready For Immediate Construction. Situated In A Desirable Investment Worthy Location, This Property Is Perfect For Those Looking To Maximize Their Return With A Ready-To-Build, Multi-Unit Opportunity. Dont Miss Out On The Chance To Bring Your Vision To Life In This Sought After Space.