No, this isn’t Drake’s Bridle Path home or housing for another member of the one percent.
Instead, this real-estate listing is for a very average-looking Toronto apartment building — a rarity when it comes to real-estate listings given most are owned by property management companies.
Located at 231 Vaughan Road near several TTC stops and parks, the 52-union building is listed for $14.9 million. The building includes eight two-bedroom apartments, 36 one-bedroom units and eight bachelor flats. Rent for units given the area the building is located in likely ranges between $1,500 to $2,500 per month based on the apartment’s size.
On the maintenance side of things, it looks like the cost would likely be pretty low. For example, the building doesn’t feature elevators, underground parking, a pool or even a laundry room, which is a definite plus.
As far as apartment buildings go, this one is pretty bare-bones. However, as first reported by blogTO, current residents are experiencing issues with their units, including broken water heaters and leaky windows.
However, if you have the money to spare and you’re interested in acquiring an entire apartment building, 231 Vaughan Road could be a great source of passive income.
Check out the photos below: