50 Grove Avenue, Toronto (Trinity-Bellwoods), Ontario M6J 3B6 (28320591)

$1,400,000

Talk about pride of ownership, this one scores high across all categories. First, you'll fall in love with the gorgeous victorian townhouse curb appeal. Next, it makes great money sense, as you're pulling in approximately $90,000 in NET income. Tenant quality is also fantastic as it's a true downtown 4plex with all units above ground attracting professional applicants. Detached garage parking off the laneway clears the path for your potential 1250 square foot LANEWAY HOUSE that you could rent out for well over $3,000. Finally, Trinity Bellwoods is arguably Toronto's most vibrant neighbourhood, so you've definitely taken care of location, location, location. I would say overall, the property condition could use some improvements. But there have been plenty of renovations. Full gut reno of third floor unit and front unit on the second floor, kitchens, bathroom, flooring etc. Some updates on the second floor rear unit. The main floor tenant has been there a while, so not much there. The basement could use finishing to maximize rental potential. The electrical is copper, but updating to a 200 amp system is worth it, furnace, roof and A/C are mid life and the garage is original construction. So, it wouldn't take you much to make this into a 9 out of 10, as nothing is perfect:) Recent 2025 improvements to the common areas including new front porch. You can find the full list pf features and improvements attached. It would require a hefty down payment of 20% plus closing fees and land transfer tax, but you could move in yourself to the large two bedroom, main floor unit with a massive backyard and garage parking. After paying your mortgage, property tax and utilities and subtracting for your rental income from the other three units, you could be living, all in, for less than $1,500 per month. This property has mass appeal in Seller markets, so take this opportunity to reward yourself with a savvy investment decision that checks all the boxes. (id:59911)

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