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 38 Unit Toronto
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Investing in this property is positive cash flow. Non-furnished units with good rental demand in downtown Toronto. Avery unique building with lots of character—wood trim left original and unpainted in common areas and stairwells, various skylights over common areas, large columns at main entranceway. Proximity to all amenities with TTC in front of the property. Building has potential with some restoration work required to the exterior and common areas. Nice rear yard set-up for tenant use. First mortgage to be CMHC insured.
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| 38 Unit Toronto |
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| September 4, 2008 |
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| Purchase price |
$1,550,000 |
| Cap Rate |
7.29% |
| Closing costs |
$31,282 |
| Mortgage @ 75% |
$1,162,500 |
| VTB @ 10% |
$155,000 |
| Capital required |
$263,782 |
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| Monthy totals |
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| Income |
$19,457.55 |
| Effective Income |
$18,484.67 |
| Expenses |
$10,045.58 |
| First Mortgage |
$6,662.20 |
| VTB |
$901.49 |
| ROI Cash |
$875.40 |
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| Annual totals |
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| Income |
$233,491 |
| Expenses |
$120,547 |
| First Mortgage |
$79,946 |
| VTB |
$10,818 |
| Annual ROI Cash |
$22,179 |
| Principal recapture |
$27,885 |
| Appreciatation |
$31,000 |
| Annual ROI $ |
$81,064 |
| ROI % |
30.73% |
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| Partnership share first year |
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| Annual ROI $ |
$40,532 |
| ROI % |
15.37% |
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| 5 Year forecast |
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| Income |
$1,239,396 |
| Expenses |
$639,878 |
| First Mortgage |
$399,732 |
| Second Mortgage |
$54,089 |
| ROI Cash |
$145,697 |
| Principal recapture |
$153,855 |
| Appreciatation |
$164,552 |
| ROI $ |
$464,104 |
| Annualized ROI % |
35.19% |
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| Partnership share |
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| ROI $ |
$232,052.06 |
| Annualized ROI % |
17.59% |
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