List Price
$2,100,000

Why we love it.
This is an exceptional opportunity to develop 10 units on a prime 50x138 lot in the highly sought-after Beaches neighborhood. The property can be divided into two 25-foot lots, allowing for the construction of two fourplexes featuring 1,100 sqft, 3-bedroom, 2-bath units, as well as two 1,300 sqft, 3-bedroom, 2.5-bath laneway houses. Additionally, there is enough space to accommodate six parking spots. This project is ideal for developers seeking a slightly larger-scale build in an outstanding location. Situated just steps from vibrant shops, restaurants, and the boardwalk, this investment offers strong potential returns and exceptional lifestyle appeal.
BY THE NUMBERS
Financial projections.
Monthly Rental Income
$39,700
Yearly Cashflow
$95,000
Capitalization Rate
6.6%
This assumes a CMHC MLI Select mortgage refinance at the end of construction to pull out all cash and loans invested into the project. Mortgage Terms - 3.7% rate ammortized over 40 years.