231 Melrose Street For Sale

Toronto, Mimico, M8Y 1B8

$3,199,900

Description

Listed by RIGHT AT HOME REALTY.

A Wonderful Opportunity To Own This Purpose-Built Multiplex, In A Prime Area Of South Etobicoke, Surrounded By Multi-Million Dollar Homes. The Solid Brick 9-Plex Consists Of 6 2-Bedroom And 3 1-Bedroom Units With 2 Balconies. These 15 Bedrooms In Total Produce About $172k Of Gross Annual Rental Income With A Potential To Further Improve Easily. This Building Is Always Fully Rented Due To Great Management And Care By The Owner, And Offers A Fabulous Up-Side On Tenant Turnover. This Could Account Upward Of 5.7% Of The Return On The Investment Plus A Building Ownership That Grows Equity! The Units Are Updated And Bright, Very Clean & Easy To Rent. Very Well Managed Building, With Great Tenants, In A Perfect Location, Near GO Station, Amenities, The Lake And The Gardiner ExpressWay.

2 Balconies, 9 Surface Parking Spots, 9 Individual Hydro Meters, Tenants Pay Their Own Hydro Except Unit 1A.

Location

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  • Address: 231 Melrose Street
  • Neighborhood: Mimico
  • City: Toronto
  • State: Ontario
  • Postal Code: M8Y 1B8

Property Details

  • Property ID: W9297693
  • Property Price: $3,199,900
  • Style: Multiplex, 2-Storey
  • Sq/Ft: 5000+
  • Rooms: 39
  • Bedrooms: 9+6
  • Bath: 9
  • Parking Spaces: 9
  • A/C: Window Unit
  • Basement: Finished
  • Den: N
  • Elevator: N
  • Exterior: Brick
  • Heating: Radiant
  • Fireplace: N
  • Taxes: $15,801.15 (2023)
  • Lot: 125.00x50.00 (Feet)

Room details and dimensions

Statistics for similar Multiplex homes in Mimico

The graph below compares the average list price and average sale price of homes in this neighborhood by month for the last 24 months. When average sale price is greater than average list price, this may suggest a buyer's market. When average sale price is lower than the average list price this may suggest a seller's market.

Average days on market for similar Multiplex homes in Mimico

The graph below illustrates the average days on market for homes in this neighborhood. The yellow area may indicate a buyer's market, the green area may indicate a balanced market and the red area may indicate a seller's market.

Number of transactions for similar Multiplex homes in Mimico

Property History

This property has been sold 3 times before. To view this property's sale price history please sign in or register:


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Contact Manoj Kukreja

Sales Representative, Re/max Premier Inc., Brokerage
(647) 576 - 2100

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