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BEDROOMS9
BATHROOMS9
KITCHENS39
ROOMSW9297693
MLSIDContact Us
Property Description
A Wonderful Opportunity To Own This Purpose-Built Multiplex, In A Prime Area Of South Etobicoke, Surrounded By Multi-Million Dollar Homes. The Solid Brick 9-Plex Consists Of 6 2-Bedroom And 3 1-Bedroom Units With 2 Balconies. These 15 Bedrooms In Total Produce About $172k Of Gross Annual Rental Income With A Potential To Further Improve Easily. This Building Is Always Fully Rented Due To Great Management And Care By The Owner, And Offers A Fabulous Up-Side On Tenant Turnover. This Could Account Upward Of 5.7% Of The Return On The Investment Plus A Building Ownership That Grows Equity! The Units Are Updated And Bright, Very Clean & Easy To Rent. Very Well Managed Building, With Great Tenants, In A Perfect Location, Near GO Station, Amenities, The Lake And The Gardiner ExpressWay.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-06-18 | 2024-09-05 | 79 | $3,495,000 | - | Terminated |
| 2024-05-14 | 2024-06-18 | 35 | $3,699,900 | - | Terminated |
| 2024-04-24 | 2024-05-14 | 20 | $3,999,900 | - | Terminated |
Extras
2 Balconies, 9 Surface Parking Spots, 9 Individual Hydro Meters, Tenants Pay Their Own Hydro Except Unit 1A.
Property Features
Hospital, Public Transit, School
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Property Details
Street
Community
City
Property Type
Multiplex, 2-Storey
Approximate Sq.Ft.
5000+
Lot Size
50' x 125'
Fronting
South
Taxes
$15,801 (2023)
Basement
Finished
Exterior
Brick
Heat Type
Radiant
Heat Source
Gas
Air Conditioning
Window Unit
Water
Municipal
Driveway
Private
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Living | Ground | 8.86' x 16.40' |
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Etobicoke Market Statistics
Etobicoke Price Trend
231 Melrose St is a 9-bedroom 9-bathroom home listed for sale at $3,199,900, which is $1,189,900 (59.2%) higher than the average sold price of $2,010,000 in the last 30 days (August 21 - September 19). During the last 30 days the average sold price for a 9 bedroom home in Etobicoke declined by $115,000 (5.4%) compared to the previous 30 day period (July 22 - August 20) and down $1,190,000 (37.2%) from the same time one year ago.Inventory Change
There were 8 9-bedroom homes listed in Etobicoke over the last 30 days (August 21 - September 19), which is up 14.3% compared with the previous 30 day period (July 22 - August 20) and down 20.0% compared with the same period last year.Sold Price Above/Below Asking ($)
9-bedroom homes in Etobicoke typically sold $11,000 (0.5%) above asking price over the last 30 days (August 21 - September 19), which represents a $334,000 increase compared to the previous 30 day period (July 22 - August 20) and ($195,000) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 9-bedroom homes in Etobicoke over the last 30 days (August 21 - September 19) stood at 12.5%, down from 42.9% over the previous 30 days (July 22 - August 20) and up from 10.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 9-bedroom 9-bathroom home in Etobicoke stood at 13 days when successfully sold over the last 30 days (August 21 - September 19), compared to 98 days before being removed from the market upon being suspended or terminated.Listing contracted with Right At Home Realty
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