Nestled amongst Toronto's most prestigious neighborhoods, of Rosedale, Summerhill and Forest Hill, this Deer Park multiplex home at 27 Glen Elm Ave. is a 2 minute walk to Yonge & St. Clair subway. With a walk score of 94 daily errands don't require a car. Enjoy a peaceful residential setting with access to ravine/walking trails, grocery retailers, fitness/tennis clubs, restaurants , and banks. Enjoy a brief walk to Yorkville as well as renowned public and highly rated private schools.
A "must see" turn key property! Meticulously renovated 5plex with bright open designs for natural light. Each unit offers modern amenities and stylish finishes, ensuring comfortable living. The foodie owner's suite is a stunning chef's delight with Wolf/Subzero/ Bosch appliances and quarzite counters. Open concept kitchens, new boilers, radiant heat, all new electrical and plumbing, new gas fireplaces, heated fooring in some units, snowmelt system in natural stone front steps and more. Ideal for multi-generational families, rental income, co-ownership and investment.
Vacant Possession Flexibility. Without the need to process existing tenants, this property provides the perfect canvas for a buyer's vision of personalized use and/or blended investment opportunity at market rents.
Utilize one or more units for personal residential/home office use, while using others as exceutive rentals or rent all to maximize rental income. ie. A buyer seeking 2300 sq. ft may easily use the 2nd and 3rd floors with existing shared staircase, as the existing owners do, while renting the other units/garages to earn $10-12k/month. With several corporate offices and no hotels nearby the result is an opportunity to use as an income property of mid term rentals (3 months+). Approx 4.5+cap - $250+K/yr. (Ask about the performa rent roll and a unique rental strategy to maximize returns. Optional furniture incl.)
The Yonge and St. Clair area is expected to continue to benefit from current/future planned upscale development and land assembly along the high demand Yonge St. corridor. A condominium in the area currently under development is selling at $2800+ per sq ft. Potential to increase NOI with an additional 1-2 bedroom garden suite for added value and income.
Compare commercial financing programs with residential for your best options. Commercial lenders generally start at five or more units and may offer CMHC longer amortization and as well construction loans when approved for added garden suite.