This 8-unit concrete apartment building in Tuxedo Park, comprising seven one-bedroom units and one studio, offers a rare turnkey investment with significant value-add potential. The property has undergone over $240,000 in recent capital improvements—including a new high-efficiency hydronic boiler, a full SBS membrane roof replacement, electrical upgrades, and building-envelope and security enhancements—ensuring that all major mechanical and structural work is complete. Currently operated as non-market housing, the asset sits significantly below inner-city market rates, providing immediate rental upside through unit-level cosmetic renovations. Situated just one block north of the future 28th Avenue Green Line LRT station and steps from the Centre Street MAX Green BRT corridor, the property features six energized parking stalls, shared laundry, and a current fire inspection on file, making it a premier transit-oriented acquisition. (id:55577)
Property Features
- MLS® Number A2310526
- Price $2,200,000
- Square Footage: 4830 sqft
- Property Type: Multi-Family
- Community Name: Tuxedo Park
- Parking Space Total 6
- Plan 3980am
Buildings
| Constructed Date | 1972 | Construction Material | Poured Concrete |
| Exterior Finish | Concrete | Fire Protection | Alarm System |
| Heating Fuel | Natural Gas | Size Exterior | 4829.69 Sqft |
| Size Interior | 4830 Sqft | Total Finished Area | 4829.69 Sqft |
| Type | Multi-family |
Land
| Acreage | No | Size Depth | 36.53 M |
| Size Frontage | 19.2 M | Size Irregular | 696.00 |
| Size Total | 696 M2|7,251 - 10,889 Sqft | Size Total Text | 696 M2|7,251 - 10,889 Sqft |
| Zoning Description | M-c1 |
Agents and Offices
- Miki Somos
- Office: RE/MAX Innovations