Rare Detached Turnkey Triplex With Laneway Potential
Unlocking the Potential of an Investment Gem near Toronto's Danforth: A Turn-Key Triplex and Promising Future Upside
For first-time investors seeking a hassle-free property with immediate rental income and promising future potential, an exceptional opportunity awaits near Toronto's vibrant Danforth. This turn-key triplex, already tenanted and generating a robust $7,100 per month in rent, is an ideal choice. It offers a solid investment foundation, allowing new investors to benefit from stable cash flow while also positioning themselves for future growth via the construction of a laneway house. With the added advantage of its proximity to the Danforth and a future subway station, this property presents an attractive proposition for those seeking long-term success in the real estate market.
Impressive Rental Income and Stability:
Situated near Toronto's lively Danforth, the investment property in the East End is already generating an impressive monthly rental income of $7,100. This aspect makes it an excellent choice for first-time investors who want to start their journey with a property that offers immediate cash flow and stability. With tenants already in place, you can enjoy a reliable income stream from the outset, minimizing the challenges of finding occupants and reducing vacancy risks. While it currently experiences a slight cashflow deficit of -$768 per month, this minor loss is offset by the substantial equity growth that can be achieved through principal paydown and appreciation. Investors can take comfort in the fact that they are building approximately $60,000 in equity annually, leading to long-term wealth accumulation.
Potential for Additional Income:
One of the most exciting aspects of this property is the possibility of constructing a 1000 sqft laneway house. Once completed, the laneway house has the potential to generate an extra $4,000 per month in rental income, significantly boosting overall cash flow. With the addition of the laneway house, the property's monthly cashflow is estimated to reach $28,50, transforming it into a positive cash flow asset.
Proximity to the Danforth and Future Subway Station:
The location of this investment property near Toronto's Danforth adds an extra layer of appeal. The vibrant Danforth area is known for its lively atmosphere, diverse culinary scene, and bustling retail options. Additionally, the property's close proximity to a future subway station ensures excellent connectivity, making it highly desirable for tenants and contributing to potential appreciation in property value over time.
Perfect for First-Time Investors:
This investment property is an excellent choice for first-time investors seeking a secure and promising venture. With tenanted units offering immediate income, you can gain valuable experience in managing real estate investments while enjoying a stable cash flow. Simultaneously, the future upside potential, such as equity growth and the option to construct a laneway house, allows you to expand your portfolio and maximize returns over the long term.
Building Equity Through Principal Paydown and Appreciation:
The property offers investors the opportunity to build equity over time. By consistently paying down the mortgage principal and benefiting from potential appreciation in property value, investors can see substantial growth in their net worth. This equity accumulation is a valuable long-term benefit of the investment.
For first-time investors in Toronto's real estate market, this turn-key triplex near the Danforth presents an ideal opportunity. With existing tenants ensuring immediate rental income and stable cash flow, it provides a solid foundation for new investors to gain valuable experience. The property's proximity to the Danforth and a future subway station adds further allure, ensuring convenient access to amenities and transportation. The potential for future growth through equity building, as well as the option to construct a laneway house, adds exciting prospects for increased cash flow and profitability. By capitalizing on this property's tenanted status, proximity to the Danforth, and promising future upside, first-time investors can embark on their real estate journey with confidence and set themselves up for long-term success.
Click Here To See The Financials - Triplex
Click Here To See The Financials - Triplex + Laneway House
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