46 Montye Ave 13 Unit Apartment Building $6,395,000 CAD ($491,923 CAD/Unit) 4.03% Cap Rate Toronto, ON M6S 2E2
INVESTMENT HIGHLIGHTS
- Ample parking
- Retail amenities nearby
- Heavy commercialized area
- Access to public transit and highway
- High exposure location
EXECUTIVE SUMMARY
46 Montye Avenue is a 13-unit, turnkey investment opportunity with attractive assumable CMHC financing. 9 of the 13 units have been fully renovated with condo quality finishes. The property NOI is approximately $258,000, and the 1st position assumable CMHC loan is $4,250,123 at 4.10% interest with a 50 year amortization, maturing in December, 2034. This opportunity offers predictable and steady cash flows, with further additional rental upside yet to be achieved through the 4 units that haven't been turned over. The building is immaculately maintained with little to no near term capital expenditure to worry about.
PROPERTY FACTS
| Price | $6,395,000 CAD |
| Price Per Unit | $491,923 CAD |
| Sale Type | Investment |
| Cap Rate | 4.03% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 9,393 SF |
| No. Stories | 3 |
| Year Built | 1953 |
| Parking Ratio | 0.53/1,000 SF |
| Zoning | RM |
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Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (75)
Bike Score®
Very Bikeable (83)
