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BUYER’S PACKAGE1302 King St. W.Toronto, ON
32 Residential Units
MYSAK REALTY INC., BROKERAGE2358A Bloor St. W.Toronto, ON, M6S 1P3
Office: Fax: Email:
MysakRealty.com
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CONTENT
Property Overview
About Hamilton
Accessing the Building
Amenities
The Lifestyle
Property Overview
Interior Suites
Investment Highlights
Rental Market Analysis
Financials
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CONTENT.
PROPERTY OVERVIEW
1302 King St. W. is located in in one of Toronto’s oldest and historical neighbourhoods – Parkdale. A 5-minute walk to Exhibition GO and access to public transportation right outside the property proves that this locale is easy and accessible. It’s an eclectic neighbourhood where residents are surrounded by the convenience of downtown living with the city’s historic charm. With its convenient locale, residents can find themselves near all amenities - restaurants, shops, parks and moreThe site encompasses 30 Bachelor Units and 2 1-Bedroom units.
WALK SCORE
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IntroductionToronto is Canada’s largest city and a world leader in such areas as business, finance, technology, entertainment and culture. Its large population of immigrants from all over the globe has also made Toronto one of the most multicultural cities in the world.
Toronto has a large and diverse population. It is home to about 2.9 million people and is expected to continue to grow steadily. In 2017, the Province of Ontario projected that the city of Toronto could grow by 500,000 people in the next 25 years.
Transportation in and out of the city is relatively easy with options like ViaRail and GO Transit. These public methods accompanied by the many highways, make Toronto extremely accessible. The two airports, Billy Bishop and Pearson International make both domestic and international travel easy for both commercial or personal use. The Toronto Transit Commission (TTC) provides transportation around the city with buses, a four-line subway and light rail transit. The amount of transportation options makes Toronto a very attractive place to live for all demographics. Toronto is the location for many top schools, businesses and public services making it an incredibly attractive place for companies, investors and families to reside. With population constantly growing, the need for housing will continue to rise and multi-residential properties are becoming a increasingly attractive options for residents.
ParkdaleYou can find Parkdale west of the Queen West neighbourhood, east by Dufferin Street and west by Roncesvalles Avenue.Parkdale’s eclectic mix of real estate options ranges from grand Victorian mansions to high-rise low rent apartment buildings. This plethora of housing options has resulted in Parkdale having one of the most diverse demographics of any Toronto neighbourhood.
Parkdale possesses many positive attributes. It has some of Toronto’s most vibrant shopping districts, wonderful tree lined streets, affordable Victorian homes, and impressive mansions that remind onlookers that Parkdale was once Toronto’s wealthiest district. Parkdale is also within walking distance of Toronto’s waterfront parks.
Sources: Toronto Neighbourhoods, Toronto.ca
ABOUT TORONTO
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Source: Warren Wong
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ACCESSING THE BUILDING
VEHICLE
Billy Bishop Toronto City Airport ~10 Min
Union Station ~15 Min
Toronto Pearson International Airport ~20 Min
Exhibition GO ~3 min
PUBLIC TRANSIT
Streetcar: Routes 501, 503 & 504 with stops available outside the building.
Bus: Dufferin Loop is less than 10 minutes away. 29 Bus Stop to Dufferin Station is less than a 5 minute walk.
TRAIN
Exhibition GO is ~20 minutes away offering service on the Lakeshore West line between Toronto and Hamilton.
Directly in front of the station there is a connection with TTC buses on Dufferin
route 29C and at the nearby Exhibition Loop with 511 Bathurst and 509
Harbourfront streetcar lines.
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Exhibition GO~15 minutes away using all modes of transporta-tion.
1302 King St. W.Subject Property
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AMENITIES
Parkdale Collegiate Institute
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LCBO
Liberty Village
St. Joseph's Health Centre
Exhibition GO
BMO Field
Ontario Place
Budweiser Stage
Marilyn Bell Park
Lakeshore Blvd Parklands
Martin Goodman Trail
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10 1302 King St. W.Subject Property
PARKDALE, TO
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Toronto is an eclectic city with offering quaint or bustling neighbourhoods
with its own distinct heritage and character.
City Centre: Located in the heart of the action, Downtown Toronto includes
some of Toronto’s most dynamic areas. Broker deals or book a power lunch
in the downtown Financial District. Catch a broadway show, then hit the
dancefloor in an Entertainment District lounge or club. The Yonge St. corridor
offers prime shopping opportunities including many cultural events at Yonge-
Dundas Square. Church-Wellesley Village in the unofficial headquarter’s of
Toronto’s LGBTQ+ community.
Midtown: Midtown contains a certifiably eclectic array of districts. There’s
Bloor-Yorkville with its luxury boutiques. Then there’s the youthful boho vibe
of the University of Toronto students, and of the Annex community.
Westside: This trendy part of town is where you’ll find the city’s hottest haunts
including trendy Queen West, edgy West Queen West, Little Portugal’s ethnic
enclave with millennial revitalization, patio-heavy Liberty Village, the popular
Ossington Strip and Chinatown.
Waterfront & Toronto Islands: Redesigned Queens Quay strip makes the Lake
Ontario waterfront a stroller’s paradise. The Waterfront offers a dynamic mix
of parks, arts & culture, shops and restaurants. Hop on a ferry to the nearby
Toronto Islands where some of the city’s beaches await along with a family
amusement park and car-free, paved trails.
THE LIFESTYLE
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Old Town: The birthplace of Toronto, this central locale includes the original
10 blocks that comprised the Town of York. The historic St. Lawrence Market
brims with beautiful architecture and eponymous food market. A short walk
from there is The Distilery Historic District, an artsy enclave of galleries and
cafes within Canada’s largest complex of Victorian-era industrial architecture.
Eastside: A hip, emerging community with the culinary adventures of Little
India and bustling Greektown. Another draw is The Beaches area with its Blue
Flag-certified swimming beaches. For prime retail therpay and brunch, don’t
miss Leslieville.
Don Valley: Notheast of Downtown, the Don Valley area is verdant and
peaceful with Riverdale Park hosting amazing views of the city. Historic
Cabbagetown hosts quaint mom-and-pop shops that share the streetscape
with multicultural restaurants.
Uptown: Spread your sightseeing wings in this sprawling region of North
Toronto, which includes everything from premium shopping and fine dining
along the Yonge-Eglinton strip to the Black Creek Pioneer Village site, and the
York University Campus.
High Park: This area offers a leafy High Park, foodie-approved restaurants
in Roncesvalles Village and the artsy Junction neighbourhood with small
galleries, vintage shops and coffee bars.
Info Source: See Toronto NowImage Sources: TSN, BlogTO, Fodors Travel Guide
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1302 King St. W.
30 Bachelor
2 1-Bedroom Units
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Property Type:Property Code &Description:
Assessment Roll Legal Description:Legal Description:
Year Built:Number of Full Storeys:Number of Partial Storeys:Frontage (ft):Depth (ft):Site Area:Variance:
Multi Residential361-Bachelorette, typically a converted house with 7 or more self-contained units
PLAN 418 BLK F LOT 18 PT LOT 19LT 18 BLK F PL 418 PARKDALE; PT LT 19 BLK F PL 418 PARKDALE AS IN CA191071; CITY OF TORONTO
N/AN/AN/A631509583.2 Sq. FeetRegular
PROPERTY OVERVIEW
30 Bachelor Units 2 1-Bedroom Units
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KitchenComprised of white cabinetry and stone or ceramic backsplash. Kitchens include a fridge, microwave and hot plates.
Living Room2 1-Bedroom units have a living room area with Laminate and Vinyl Tile flooring throughout.
WashroomsWashrooms are immaculately finished. They include tubs, toilets, single vanity sinks and Ceramic tiles throughout in lovely neutral colours.
Lighting
The main area of units contain ceiling, recessed light fixtures. The washrooms are outfitted with standard ceiling light fixtures.
LaundrySeparate laundry room offering 2 Coin Washers and 2 Coin Dryers.
Walls and FloorsUnit floors are a mixture of Vinyl Tile and Laminate. Hallway floors are Vinyl Tiles.
Heating & CoolingHVAC system for heat and airconditioning installed in each unit.
INTERIOR SUITES
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INVESTMENT HIGHLIGHTS
Established Rental Location
Below Market Rents
Clean Enviromental
Tenants Pay Hydro
Onsite Laundry Facilities
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Established Rental Location1302 King St. W. is located in the Parkdale neighbourhood which is one of Toronto’s oldest and established neighbourhoods. It’s an eclectic neighbourhood where residents are surrounded by the convenience of downtown living with the city’s historic charm. With its convenient downtown locale, residents can find themselves near all amenities - restaurants, shops, parks and historic buildings just to name a few. A 15 minute walk to the Exhibition GO and access to public transportation right outside your doors proves that this locale is worth it.
On Page 19 of this Buyer’s Package, you’ll be able to read about the Rental and Comparision Analysis sourced by Rentals.ca, the Canadian Mortgage and Housing Corporation (CMHC) while comparing rents for Bachelor units as seen on Kijiji, Padmapper & Viewit.ca.
Below Market RentsPlease refer to the Rental & Comparision Analysis on pgs 18-19.
Onsite Laundry Facilities2 sets of Coin Operated Washers & Dryers with an additional income of $550-650/month.
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RENTAL ANALYSIS
C
D
B
A
Subject Property
1302 King St. W.
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D
B
A
Subject Property
1302 King St. W.
A
Rental Analysis
When it comes to Parkdale, nearly 90% of residents are
renters.
Average Rental Rates:
Bachelor - $1441/month
1-Bedroom - $1361/month
The analysis of the June 2020 rental market compiled
by rentals.ca and Bullpen Research and Consulting
suggests that average rental rate for a 1-Bedroom in
Toronto is $2103/month, while RentBoard.ca suggests
that the average rental rate for a Bachelor unit is $1671/
month.
Comparison Analysis
The subject property in Parkdale has 30 Bachelor
Units and 2 1-Bedroom Units with an average rent of
$742.35/month.
As noted in the rental analysis, CMHC calculated that
the average rent for Bachelor units in October 2019
was $1141/month.
Using Kijiji, PadMapper and Viewit.ca, the below
comps were found for Bachelor Units in the Parkdale
neighbourhood. The Average rent of the 4 buildings
below is $1285.50/month.
The subject’s current rent roll leaves a $543 gap for
potential growth.
Source: CMHC, Rentals.ca, ACORN, RentBoard.ca, Kijiji, PadMapper, Viewit.
ca
Bachelor
Bachelor
Bachelor
Bachelor
1430 King St W
1501 King St W
116 Spencer Ave
124 Tyndall Ave
450 m
800 m
86 m
250 m
$1200
$1295
$1397
$1250
Map Address Size Price Distance
A
B
C
D
FINANCIALS
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Schedule "B" 1302 King St. W.
July 2020
Unit # # of Br. Rental Parking Rental Move Next Amount of DepositIncome Income Total In Date Increase Last Month's Rent
101 Bachelor $586.75 $586.75102* Bachelor $852.05 $852.05 In Negotiation103 Bachelor $618.26 $618.26104 Bachelor $744.44 $744.44105 Bachelor $581.70 $581.70106 Bachelor $592.50 $592.50107 Bachelor $575.27 $575.27108 Bachelor $702.73 $702.73201 Bachelor $770.06 $770.06202 Bachelor $609.09 $609.09203* Bachelor $820.00 $820.00 In Negotiation204 Bachelor $686.96 $686.96205 Bachelor $644.86 $644.86206 Bachelor $779.00 $779.00207 Bachelor $829.00 $829.00208* Bachelor $831.00 $831.00 In Negotiation301 Bachelor $710.60 $710.60302 Bachelor $749.90 $749.90303* Bachelor $829.00 $829.00 In Negotiation304 Bachelor $849.00 $849.00305 Bachelor $825.00 $825.00306* Bachelor $825.00 $825.00 In Negotiation307 Bachelor $727.52 $727.52308 1-Bedroom $925.00 $925.00401 Bachelor $699.33 $699.33402 Bachelor $691.25 $691.25403 Bachelor $796.65 $796.65404* Bachelor $600.00 $600.00 In Negotiation405* Bachelor $849.00 $849.00 In Negotiation406 Bachelor $699.33 $699.33407 Bachelor $829.00 $829.00308 1-Bedroom $925.00 $925.00
Monthly Totals $23,754.25 $0.00 $23,754.25Annual Totals $285,051.00 $0.00 $285,051.00
Other Monthly IncomeLaundry Est. $550.00 Initials
Parking $438.00 BuyerGarages
Total Income $988.00Annual Other Income $11,856.00 Seller
Gross Annual Income $296,907.00* Owner is in negotiation with the tenant to obtain vacant possession.
E. O.E. Page 1 of 1
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MYSAK REALTY INC., BROKERAGE2358A Bloor St. W.Toronto, ON, M6S 1P3
Office: Fax: Email:
416-767-5500 [email protected]
JOE MYSAKOwner, Broker of Record
All information regarding the subject property, properties sold, for sale and expired, is from sources deemed reliable, but no warranty or representation is made as to its accuracy and same is submitted subject to errors and omissions.
For access to due diligencedocumentation via “Data Room”
Please contact Ashley Lapier at [email protected]
Parkdale Arts and Cultural Centre – Artscape
