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4 + 2
BEDROOMS4
BATHROOMS2 + 2
KITCHENS10 + 6
ROOMSW12008823
MLSIDContact Us
Property Description
Newly renovated brick quadplex in Etobicoke. Turnkey Investment opportunity or residential home in the heart of Mimico. A rare find, this low-maintenance brick building offers 4 beautifully updated units, two 2-bedroom units and two 1-bedroom basement apartments. Each unit provides privacy and comfort for tenants including a spacious backyard with greenery and 6 car surface parking. Ideally located close to Mimico GO Train offering a quick and direct commute to downtown Toronto. Enjoy the convenience of nearby shops, restaurants, parks, and the waterfront of Lake Ontario. Recent updates include kitchens, bathrooms, floors, lighting, HVAC and more. Coin-operated laundry income. Sitting on a large lot, this property has potential for expansion offering fantastic opportunity. Whether you're an investor looking for good cash flow or a buyer seeking a multi-unit home with rental income, this four-plex is a must-see. Don't miss out on this prime opportunity! Estimated property cap rate: 4.87%. See attached feature sheet for additional estimated financial information. This property presents a strong investment opportunity with consistent income, reasonable expenses, and potential for growth.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-09-09 | 2024-11-20 | 72 | $1,800 | - | Suspended |
| 2024-01-05 | 2024-02-21 | 49 | $1,800 | $1,800 | Leased |
| 2022-07-30 | 2022-08-15 | 16 | $1,600 | $1,700 | Leased |
| 2021-12-22 | 2022-03-13 | 82 | $1,590 | $1,590 | Leased |
Nearby Intersections
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Property Details
Street
Community
City
Property Type
Fourplex, 2-Storey
Lot Size
50' x 126'
Fronting
North
Taxes
$5,629 (2024)
Basement
Fin W/O, Full
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
6
Garage Type
None
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Etobicoke Market Statistics
Etobicoke Price Trend
28 Algoma St is a 4-bedroom 4-bathroom home listed for sale at $2,298,888, which is $423,177 (22.6%) higher than the average sold price of $1,875,711 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 4 bedroom home in Etobicoke increased by $183,887 (10.9%) compared to the previous 30 day period (December 22 - January 20) and down $46,763 (2.4%) from the same time one year ago.Inventory Change
There were 466 4-bedroom homes listed in Etobicoke over the last 30 days (January 21 - February 19), which is up 87.9% compared with the previous 30 day period (December 22 - January 20) and up 30.9% compared with the same period last year.Sold Price Above/Below Asking ($)
4-bedroom homes in Etobicoke typically sold $7,351 (0.4%) above asking price over the last 30 days (January 21 - February 19), which represents a $37,018 increase compared to the previous 30 day period (December 22 - January 20) and ($17,969) 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 4-bedroom homes in Etobicoke over the last 30 days (January 21 - February 19) stood at 38.0%, down from 43.5% over the previous 30 days (December 22 - January 20) and down from 52.2% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 4-bedroom 4-bathroom home in Etobicoke stood at 24 days when successfully sold over the last 30 days (January 21 - February 19), compared to 68 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Realty Enterprises Inc.
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