A RARE FIND
Palmerston-Little Italy
657 Manning Ave. (Bloor Street West and Bathurst Street) Asking price: $2.85 million
Sold for: $2.85 million
Taxes: $6,739 (2018) Bedrooms: 6 Bathrooms: 4
Time on the market: Three days
Ahouse with four units is not a common find. This one offers the owner options to live in one suite and make income from the rest, to share between family members or use as an investment.
When listing an investment property, “we put ourselves in the buyer’s shoes and crunched all the numbers to attract a high cap rate,” says listing agent Lauren Miyazaki. “A property’s cap rate is its annual net operating income divided by the purchase price and represents the unlevered annual return on the asset.”
The six-bedroom, fourbathroom brick-and-stucco semi-detached home received one firm offer with no conditions in just three days, she says. The buyer could “see and feel the type of quality work that my seller poured into this home.”
The sellers created beautiful well thought-out spaces that blend old and new, Miyazaki says. The home was also impeccably staged. The buyers are “from Toronto and bought for their children.”
The two-bedroom mainfloor suite has a living/dining room and an open-concept kitchen. There is also a twobedroom suite with a walkout to a deck, one unit with a living room/kitchen/bedroom and a one-bedroom lowerlevel apartment.
The 22x84-foot lot has one parking spot. Listing Broker: Forest Hill Real Estate (Lauren Miyazaki)