$1,299,000
Question: How many multi-family properties are you seeing on the market that are in great condition, have great character and also cash flow? Answer: None..Until now, that is! I have just brought it to the market, and here it is. The photos pretty much say it all, except for how much rent it is receiving, which is $8795/mo. These rents are not just ‘at market’.. they have RAISED the market in Boyle Hts single handedly! Word of warning.. it is highly unlikely that this property will appraise at the sale price, simply because it is a ‘one of a kind’ property for Boyle Hts. So be prepared to bring in more than just the typical 25% down payment. But soon enough, as the market continues to turn in Boyle Hts, you will be able to retrieve a good portion of your cash. Additionally, there will soon be approved plans for two additional units – two junior bedrooms that will be inexpensive to build (about $150K total) yet will each fetch about $1500/mo in income.
