396 College St. List price $4,280,000.00
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RE/MAX Condos Plus Corporation Brokerage
Sales Representative: Joe Hume
45 Harbour Square Toronto, Ontario M5J 2G4
Cell: 647-200-0699 (O) 416-203-6636 Fax: 416-203-1908
396 College Street is located 1 block east of Bathurst St. on the north side of College St. This corner property is a well maintained 3 story building containing 7 renovated & fully leased residential units and two fully renovated & leased commercial units on a 30.5′ by 102 foot lot.
396 College Building Features
- There are: 2 Commercial retail units, 4 – 2 bedroom units, 2 – 1 bedroom units and 1- 4 bedroom unit.
- Total retail space 1650 Sq. ft. Residential space 6038 sq. ft.
- Annual rent is over $240,000.00 and expenses of approx $58,000.00 (taxes – $30,167.59, Gas – $4282.00, hydro -$6689.00(this amount will go lower over time as tenants assume hydro expenses with new leases, water & waste – $4200, insurance – $12,240.77) give this investment a cap rate of 4.35% before any consideration of future capital appreciation. Zoning – CR 3.0 (C 2.0; r 2.5) SS2 (x2363)
- The property is within walking distance of the University of Toronto, University Avenue with hospitals, and government offices, Kensington Market & Chinatown.
- The building lies just outside of the Kensington Market area along the stretch of College street emerging as the new and exciting tech hub with businesses and services catering to the needs of the connected generation. The neighbourhood is gentrifying at breakneck speed!