50 Waniska Avenue, Stonegate-Queensway M8Y 1P9

Description

Truly outstanding investment opportunity in Toronto's highly desirable Humber Bay-Stonegate-Queensway neighbourhood. Purpose built Apartment Building in one of Etobicoke's premier rental locations, offering strong Tenant demand, outstanding long-term appreciation potential & immediate income optimization. This is a rare opportunity to acquire fully Vacant Building with flexibility to establish market rents from day one. Based on projected market rents, property offers the potential to generate an estimated Net Annual Income of approx. $220,000 representing an attractive projected Cap Rate of 6.6%. This well-maintained Building features two 3-Bdrm & four 2-Bdrm Apartments, several have been updated, bright & spacious front & rear common hallways, laundry rm, mechanical rm, 5 storage lockers, 6 garage parking spaces & 6 surface parking spaces. Each Apartment offers spacious & practical layout, featuring large Foyer with double guest closet & linen closet, family-sized eat-in Kitchen with Breakfast Area, spacious Living Rm, separate Dining Rm, updated 4-pc Bathroom with towel warmer, generously sized Bedrooms, some with 2 double closets & oversized windows providing abundant natural light. Ideally situated on peaceful, tree-lined residential street just north of The Queensway corridor, offering immediate access to wide array of grocery stores, cafés, restaurants & everyday amenities. The neighbourhood is served by highly regarded schools & within walking distance of public library, parks & several early childhood daycare centres. Residents appreciate close proximity to Humber River Trail System, Humber Bay Park & the shores of Lake Ontario. Excellent transportation options include nearby Humber Loop, providing streetcar service between South Etobicoke & downtown Toronto, TTC bus routes connecting to nearby subway stations, Mimico GO Station at Royal York Rd & quick access to Gardiner Expressway, Highway 427 & QEW offering seamless connectivity throughout Toronto & GTA.