35 Third Street

Welcome to this exceptional opportunity to acquire a Multi-Family Home for sale in Etobicoke , located at 35 Third Street, Etobicoke. This purpose-built sixplex is nestled in the desirable New Toronto community, just a stone's throw away from the stunning Lake Ontario and the picturesque Prince of Wales Park. The solid brick construction of this 2-storey multiplex is both charming and robust, making it an ideal investment for those seeking a stable income in a thriving area.

The property boasts an impressive total of 16 rooms, including eight spacious bedrooms and six well-appointed bathrooms, ensuring ample accommodation for tenants. With four kitchens and an additional two kitchens, this Multi-Family Home for sale in Etobicoke is designed for maximum functionality and convenience. Each of the four 2-bedroom units is thoughtfully laid out, allowing for good natural light to flood in, creating a warm and inviting atmosphere.

Situated on a quiet residential street, 35 Third Street, Etobicoke, is surrounded by parks, trails, schools, and convenient transit options. The area is known for its low vacancy rates and consistent rental demand, making this property a sound long-term investment. The total square footage of the building is 4,746, as per the provided floor plans, offering plenty of space for tenants to enjoy.

Recent capital improvements have been made to enhance the property's appeal and functionality. These include a full electrical rewiring completed in 2022, fire safety upgrades also undertaken in 2022, a new PVC sewer line installed in 2020, and a roof replacement that took place in 2012. These upgrades not only ensure compliance with safety standards but also provide peace of mind for both investors and tenants alike.

While the units are not separately metered for hydro, the on-site coin-operated laundry facilities provide an additional income stream, making this Multi-Family Home for sale in Etobicoke even more attractive. The property features a private driveway with space for five vehicles, ensuring that parking is never a concern for tenants.

It is important to note that this property is fully tenanted, and all tenants are to be assumed in the sale. Therefore, it is crucial not to disturb the tenants or walk the property without an appointment. This arrangement allows for a seamless transition for the new owner, who will benefit from the reliable tenant profile and the significant upside potential on turnover, as current rents are below market value.

The location of 35 Third Street, Etobicoke, is simply unbeatable. With close proximity to the lake, shops, transit, and major highways, it caters to a variety of lifestyles and commuting needs. This makes it an ideal choice for investors seeking a turn-key multi-unit asset in a desirable west-end neighbourhood.

Additionally, the property comes with a fantastic offer of one year of property management included in the sale, providing peace of mind for new owners. This is an excellent opportunity for those looking to invest in a Multi-Family Home for sale in Etobicoke, as it not only promises stable income but also the potential for improved cash flow through strategic management and tenant turnover.

In summary, 35 Third Street, Etobicoke, presents a unique opportunity to acquire a well-maintained and strategically located multi-family property. With its spacious units, recent upgrades, and strong rental demand, this Multi-Family Home for sale in Etobicoke is a must-see for any serious investor. Don’t miss out on the chance to secure this fantastic asset in a thriving community!

New Toronto, nestled within the vibrant city of Etobicoke, offers a charming blend of suburban tranquillity and urban convenience. This lakeside neighbourhood is characterised by its picturesque waterfront, featuring parks and recreational areas that invite leisurely strolls and outdoor activities. The area boasts a mix of residential homes, from quaint bungalows to modern townhouses, creating a welcoming atmosphere for families and individuals alike. With easy access to public transport and local amenities, including shops, cafes, and schools, New Toronto provides a delightful setting for those seeking a balanced lifestyle, all while being just a short commute from the bustling heart of downtown Toronto.

Schools in the Neighbourhood

This property is ideally situated near a variety of educational institutions, catering to different age groups and educational preferences. The closest option is Second Street Junior Middle School, located just 0.4 km away, offering both English and French programs for grades JK to 8, with a commendable school rating of 6.3. For secondary education, Lakeshore Collegiate Institute is available 1.6 km from the property, although it currently has a school rating of 0. Alternatively, Father John Redmond Catholic Secondary School, located 1.5 km away, boasts a strong rating of 8.6, providing a robust curriculum for grades 9 to 12. Families seeking Catholic education will find several options, including St. Josaphat Catholic School (0.7 km) and St. Leo Catholic School (1.6 km), both offering programs in English and French for younger grades. St. Louis Catholic School, located 2.8 km away, also provides a French curriculum for grades JK to 4. Overall, the area offers a diverse range of schooling options, ensuring that families can find suitable educational pathways for their children.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 630 residents, with an average household size of 1.7. The demographic profile reveals an average age of 48.1 years and an average household income of $72,800. However, 28.4% of the population is classified as low-income. The real estate market shows an average property price of $1,080,000, with 65.75% of households being renters and only 2.74% owning condominiums. A significant portion of the community is single, accounting for 58.72%, while households with children make up 39.29%. The area is also notable for its diversity, with 35.25% of residents being immigrants. Educational attainment is relatively high, with 54.63% of the population holding a college or university degree. However, there is a notable segment of the population, 50%, that is not in the labor force, indicating potential economic challenges. Overall, this demographic snapshot reflects a mature community with a mix of renters and homeowners, diverse backgrounds, and varying income levels, making it an interesting area for potential investment or residence.