Queen West Cashflow Condo For Sale
This Queen West condo for sale at 36 Lisgar is a fantastic investment opportunity. If you are a Real Estate investor, pay attention to this offer.
Located at 36 Lisgar St. aka “Edge Condos”, this unit features:
- 2 Bedrooms
- 1 Bath
- Efficient Layout, no wasted space
- Sizeable Balcony
- West Facing
- Good light and fresh air
- Clean unit, immaculate condition
- 600 sqft (indoor, est.)
- 80 sqft (balcony, est)
- Great Amenities
- Queen West Location!
- $432/mo. fees (current)
- $145/mo. tax (current)
$62/mo. Hvac Rental (current)
- Total monthly expenses: $639
- Est. Income/mo.: $2,200
- Est. Profit/mo: $1,561
- Est. Profit/Yr: $18,732
This unit is a very high cashflow maker: 71% of the rents are profit (1561/2200) and only 29% (639/2200) in expenses.
It is rare to achieve such high efficiency on investments.
So why is it possible here?
- Purchase price is low ($815PSF)
- Expenses are low ($639)
- Queen West Rents are High! ($3.60/sqft)
Hence, when you spend LESS and make MORE, your returns are higher.
Note that your ROI % will be HIGHER when you borrow (loan/mortgage) some funds. Why? Simply bc loans can be used as write-offs and make the percentage return much higher.
What is the possible Appreciation for the unit?
The Toronto Real Estate market is appreciating leaps and bounds, and Queen West is one of the fastest areas to appreciate. Moreover, 36 Lisgar had “a rough start” and as a result, the price is depressed. To me it means that there is a higher potentiality for quick growth, as values “catch up” with nearby buildings:
- Bohemian Embassy: $1,000 PSF (current)
- 1181 Queen West: $1,200 PSF (current)
- 106 Dovercourt: $1,100 PSF (current)
- 36 Lisgar: $815 PSF
As you can see, 36 Lisgar is 30% cheaper than the neighbourhood buildings. Even if it only comes up 10%/yr, you are making $50,000/ yr in appreciation! That is very, very good and we’ll be hard pressed to replicate these numbers anywhere in Toronto.