1640 Dufferin Street

If you’re on the lookout for a fantastic investment opportunity, look no further than this Multi-Family Home for sale in Toronto , located at 1640 Dufferin Street, Toronto. Nestled in the vibrant community of Corso Italia-Davenport, this completely renovated multiplex is a real gem. With a stylish three-storey design and a robust brick exterior, this property is not only visually appealing but also offers a wealth of features that make it an ideal choice for savvy investors.

This Multi-Family Home for sale in Toronto boasts an impressive total of 23 rooms, including six spacious bedrooms and two versatile dens. With five bathrooms in total, each two-bedroom unit is equipped with its own bathroom, ensuring comfort and convenience for tenants. The property includes three kitchens, two of which are additional kitchens, allowing for ample cooking space and flexibility. Whether you’re a seasoned landlord or new to the rental market, this property has been designed with tenant satisfaction in mind.

The finished basement with a separate entrance adds another layer of appeal, providing potential for additional rental income or simply extra living space. The lot measures a generous 24 x 120 feet, providing ample room for outdoor activities, while the mutual driveway accommodates two parking spaces. Although there is no garage, the property’s layout and location offer plenty of parking options for residents and guests alike.

One of the standout features of this Multi-Family Home for sale in Toronto is its excellent rental income potential. With a remarkable Cap Rate of approximately 6.1%, this property is currently generating a solid income from its five units, which include three two-bedroom units, one one-bedroom unit, and a bachelor suite. There’s even a rough-in already done for a garden suite at the back, which could increase the total number of units to six, further boosting your income potential by an estimated $36,000 per year. With the equity projected to rise by approximately $800,000, this is an opportunity not to be missed.

Inside, you’ll find that every detail has been meticulously considered. The property has been fitted with brand new kitchens and bathrooms, new flooring throughout, and modern pot lights that create a warm and inviting atmosphere. New windows and a new roof ensure that the property is not only aesthetically pleasing but also energy-efficient. The front porch and concrete driveway have also been newly constructed, while a new fence and four new balconies add to the overall charm and functionality of the property.

Each unit is equipped with its own new furnace and hot water tank, as well as stackable washers and dryers, making life easier for tenants. The stainless steel appliances in the kitchens add a touch of modernity and convenience, appealing to a wide range of potential renters. Additionally, there’s potential to install separate hydro meters, providing even more flexibility and autonomy for each unit.

Located at 1640 Dufferin Street, Toronto, this Multi-Family Home for sale in Toronto is ideally situated close to shopping, transportation, and schools. The vibrant neighbourhood of Corso Italia-Davenport is known for its community spirit and accessibility, making it a desirable location for families and professionals alike. With all these features and the potential for increased income, this property truly stands out in the market.

In summary, if you’re searching for a Multi-Family Home for sale in Toronto that offers both immediate income and long-term investment potential, look no further than 1640 Dufferin Street, Toronto. With its extensive renovations, prime location, and excellent rental prospects, this property is a must-see for anyone looking to invest in the thriving Toronto real estate market. Don’t miss out on this exceptional opportunity!

Corso Italia-Davenport is a vibrant and culturally rich neighbourhood nestled in the heart of Toronto, renowned for its charming blend of Italian heritage and contemporary urban living. This area boasts an array of delightful cafes, authentic trattorias, and boutique shops that reflect its lively community spirit. Tree-lined streets and well-maintained parks provide a pleasant backdrop for leisurely strolls, while the bustling atmosphere is complemented by a diverse population. With excellent public transport links and proximity to downtown Toronto, Corso Italia-Davenport offers both the warmth of a close-knit community and the conveniences of city life, making it an appealing choice for prospective residents seeking a unique urban experience.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is Regal Road Junior Public School, just 0.4 km away, offering elementary education from JK to grade 6, with a school rating of 6.1. St. Clare Catholic School is even nearer at 0.3 km, providing a Catholic education for grades JK to 8 and holding a rating of 5.7. For older students, Loretto College School, located only 0.1 km from the property, caters to grades 9 to 12 and has a solid rating of 6.0. Additionally, Rawlinson Community School, 0.9 km away, offers both English and French instruction for grades JK to 8, with a rating of 5.1. Other nearby options include St. Alphonsus Catholic School and ALPHA II Alternative School, which serve different grade levels and educational philosophies. Overall, this area boasts a diverse range of public and Catholic schools, ensuring that families have access to quality education in close proximity to their new home.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 295 residents and an average household size of 2.2 individuals. The average age of residents is 42 years, indicating a mature population. The average household income stands at $86,000, with only 9% of the population classified as low-income. The average property price in the area is notably high at $1,080,000, reflecting the desirability of the location. A significant portion of the population, 51.92%, is single, while 31.25% of households have children, suggesting a mix of family structures. The community is diverse, with 37.1% of residents being immigrants. A majority of residents, 53.57%, are renters, and there are no condominiums available in the area. Educational attainment is high, with 54.39% of the population holding a college or university degree. However, 35.09% of the population is not in the labor force, which may indicate a range of factors including retirement or other personal circumstances. Overall, this demographic snapshot highlights a well-educated, diverse, and predominantly rental-based community with a stable income level.