SOLD – 50A Long Branch Ave, Long Branch by the Lake
- Address:
- 50 Longbranch
- Postal/City:
- M8W 3J2 Toronto
- Province:
- Ontario
- Bedrooms:
- 12
- Bathrooms:
- 9
- Square Feet:
- not specified
Description
An Incredible Investment Opportunity in Long Branch by the Lake
This 9 unit multiplex sits on a spectacular 95 x 95 ft corner lot steps from the Lake. The property features solid brick construction, separately metered hydro and an on-site laundry facility.
A short walk to Lakeshore Shops, Cafes, Waterfront Trail Network, TTC and the Go in addition to excellent access to all major routes makes this an ideal income generating property to add to any investment portfolio.
A fully occupied turnkey operation offering a 6.36 percent capitalization. See below for full financial and comparable sales.
Financial Information and Comparable Sales
|
Expense Summary |
|
|
Annual Income Summary |
|
|
Property taxes |
13,545.6800 |
|
Rental Income |
84,366.48 |
|
Insurance |
3,096.00 |
|
Laundry Income |
2,400.00 |
|
Gas |
4,500.00 |
|
Storage |
240.00 |
|
Water |
1,500.00 |
|
Total Income |
87,006.48 |
|
Hydro |
1,200.00 |
|
|
|
|
Maintenance |
1500.00 |
|
|
|
|
|
|
|
Summary of Net Profit |
|
|
Total Annual Expense |
25,341.00 |
|
Total Expenses |
25,341 |
|
|
|
|
Total Income |
87,006.48 |
|
Capitalization Rate: |
|
|
Net Profit/Loss |
61,665 |
|
NOI |
61,665 |
|
|
|
|
Sale Price |
970,000 |
|
Opp Expense before dept |
25,342 |
|
Capitalization Rate: |
6.357% |
|
NOI |
61,665 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Comparable Sales |
|
|
|
|
|
Property |
Cap Rate |
per unit $ |
# units |
|
|
252 Birmingham St |
6.38 |
103,333 |
6 |
|
|
18 Station Rd |
6.96 |
103,333 |
6 |
|
|
131 Lake Cres |
6.25 |
125,833 |
6 |
|
|
19 Louisa St |
6.25 |
127,833 |
6 |
|
|
139 Royal York Rd |
6.79 |
130,000 |
6 |
|
|
47 Marina Ave |
6.76 |
130,800 |
6 |
|
|
56 Emerald Cres |
6.71 |
141,666 |
6 |
|
|
121 Fourth St |
5.67 |
105,555 |
9 |
|
|
42 Third St |
7.45 |
106,100 |
10 |
|
|
Average |
6.58 |
|
|
|
|
|
|
|
|
|
|
50A Long Branch Ave |
6.3587 |
101,305 |
9 |
|
|
|
|
|
|
|
