Exceptional Victorian Detached CMHC Investment Opportunity in High Park: 349 Quebec Ave, Toronto

In the realm of real estate investment, seizing opportunities to add substantial value to a property can lead to significant returns. Enter 349 Quebec Ave, a 2.5-storey detached home situated on an expansive 26x160 lot. With the potential to leverage the CMHC MLI Select program, this property presents an exceptional opportunity for experienced investors to capitalize on its prime location and maximize its value. In this blog, we'll explore why 349 Quebec Ave is the perfect investment property for those looking to unlock its full potential through strategic renovations and the CMHC MLI Select program.

Prime Location and Potential:

Nestled in a desirable neighborhood, 349 Quebec Ave offers investors the chance to tap into the burgeoning real estate market in Toronto. With its generous lot size and existing structure of 2300 sqft over three levels, the property provides a solid foundation for expansion and renovation. Under the CMHC MLI Select program, investors can take advantage of additional financing to fund renovations aimed at increasing the property's value and rental income potential.

Strategic Renovation Plan:

The key to unlocking value at 349 Quebec Ave lies in a strategic renovation plan that maximizes the property's square footage and rental income potential. By adding a 300 sqft addition to the main and second levels, and as well the basement, investors can expand the footprint of each floor, increasing livable space and enhancing tenant appeal. This expansion allows for the creation of spacious 3-bedroom, 2-bathroom units on each floor, complete with modern amenities and balconies for added outdoor enjoyment.

In addition to the basement, main and second-floor units, investors can capitalize on the CMHC MLI Select program to expand the 3rd floor to have a 700 sqft 2 bed 2 bath suite. This unit offers tenants luxurious living accommodations, including a private terrace with stunning views of the surrounding neighborhood. Additionally,  you canbuild a 1300 sqft, 3-bedroom, 2.5-bathroom unit in the backyard, which will provide tenants a private and stylish experience.

Maximizing Rental Income Potential:

With the strategic renovation plan in place, 349 Quebec Ave has the potential to generate substantial rental income. Each floor offers spacious and modern units designed to attract high-quality tenants seeking premium living spaces. The addition of balconies and a terrace enhances tenant satisfaction while increasing the property's overall desirability and rental rates.

Location! Location! Location!:

One of the great advantages of living in High Park is its excellent Walk Score. Residents of 349 Quebec Ave have easy access to a wide range of amenities, including the REC Centre, Library, Coffee Shops, Eateries, The Annette Food Market, High Park, the subway, Schools, and much more. The neighborhood is known for its vibrant community and offers something for everyone.

Numbers At A Glance

• $20,650 in monthly rents
• After Reno Value of $4.483M
• $2.4M  Mortgage @ 4.2% amortized over 40 years
• Annual Cashflow of $89,600

Final Thoughts:

For experienced investors seeking to add value to a property and capitalize on the CMHC MLI Select program, 349 Quebec Ave presents an unparalleled opportunity. With its prime location, expansive lot size, and potential for strategic renovations, this property offers the perfect canvas for unlocking its full investment potential. By leveraging the CMHC MLI Select program and implementing a strategic renovation plan, investors can maximize rental income, enhance property value, and achieve long-term success in Toronto's competitive real estate market. Don't miss out on the chance to unlock value and reap the rewards of investing in 349 Quebec Ave.

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