This post is for all the investors out there.. We get a lot of inquiries from Buyers about purchasing an investment property with good rental income. Unfortunately, with many older Vancouver buildings limiting rentals, and with newer Vancouver buildings selling in pre-construction the first week they’re available, it’s tougher and tougher to secure a good investment property, and one with a good cap rate (i.e. monthly income) at that.
I have exclusive access to a development in Toronto, estimated completion in 2019, built by one of Toronto’s top developer’s who have been in the business for over 30 years. They have a fantastic reputation behind them and build good product.
The location of this development couldn’t be better, which will only increase the monthly rental rates – you’ll have prospective students, young professionals, nurses, etc, looking to rent this space. This development sits at Church and Carlton (map here) which is within a few kilometers of the subway network, Ryerson University, University of Toronto, Women’s College Hospital, the Eaton Centre, the Air Canada Centre, the Skydome, the underground PATH network, Nathan Phillips Square, Queen’s Park, and so much more. Head to Yonge Street to explore some of the most popular shopping destinations in the city, with Dundas Square and The Eaton Centre just minutes south. Take in the distinctive culture of Church Street and enjoy its many popular bars and restaurants. For the scholarly types, Ryerson University is just steps away, and for those commuting to other areas of the city, College Subway Station and the College/Carlton streetcar line are both right at your front door. Right across the street from Stanley, Toronto’s historic Maple Leaf Gardens has been re-imaged as a major urban hub for shopping, sports and recreation. The Gardens is now home to Loblaws, Joe Fresh, LCBO and more. Perhaps the most exciting of the new facilities is Ryerson University’s Athletic Centre, an expansive multi-purpose facility that includes an NHL sized ice rink, state-of-the-art fitness centre, café and numerous other fine features.
The building itself will have 16,000 sqft of fantastic amenity space including a gym, concierge, rooftop patio, yoga room, theatre room, party room, and more.
On a sqft basis, prices are quite a bit cheaper in Toronto, while rental rates (and low vacancy) is similar to Vancouver. In terms of the future, Toronto has a significant amount of population influx expected in the next few years, which could prove to be lucrative for re-sale if they follow the same trend that Vancouver has shown. This development has everything from studio units for the high-$200k’s to three bedroom units for the high-$500k’s. Rental Management programs will be available to buyers if they would like this to be a hands off rental. Toronto also has interesting rentals laws which favour landlords rather than tenants (including the ability to increase the rent at any point, with notice to the tenant).
There is so much to say about the benefits of a development like this, the Toronto Real Estate market, Investment Analysis and more. An information session will be held on Thursday May 26th in the evening – let me know if you’re interested and I can send you the details. Seating will be limited! Contact me at [email protected] or 778-387-7371.