About this propertyMLS® 1304781
The Kingsley Condominiums – A Distinctive Investment Opportunity! Introducing The Kingsley Condominiums, a collection of five exceptional condominiums showcasing an industrial aesthetic complemented by contemporary finishes, thoughtfully designed by renowned architect Philip Pratt. Situated in the heart of sought-after Georgestown, this unique offering presents an outstanding opportunity for the savvy investor, with versatile income-generating potential through executive leasing or short-term vacation rentals. To be purchased as a complete collection, all five units have been condominiumized, offering a distinctive investment opportunity in one of the city's most desirable neighbourhoods. Each residence is characterized by soaring ceilings, impressive 10-foot windows, open-riser staircases & lofty, open-concept floor plans that create a striking sense of space and architectural appeal. The penthouse units are further elevated by private rooftop terraces showcasing panoramic city views. Unit 56 has just been reimagined with finishes and is fully staged as the model unit. Additional features include multi-car garage parking, direct garage access from two units, a substantial storage area beneath the garage & additional driveway parking at the rear of the building. This state-of-the-art building is fully sprinklered, adding an important layer of safety. A rare opportunity to acquire a collection of architecturally distinctive residences in an established urban neighbourhood, with the flexibility to pursue multiple investment strategies. No conveyance of offers until Friday, November 6 @ 11:00am and left open for acceptance until 4:00pm the same day. (id:56688)
Property details
Coordinates: [47.569494, -52.712632]
Rooms
Basic Calculator
First Mortgage: $2,000,000
Mortgage insurance premium: $0
Total Financing: $2,000,000
Rough closing fee (1.5%): ~ $37,500
Total downpayment with estimated closing fee: $537,500
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $9,314 | $111,768 |
| Gross rental income (income/principal ratio) | 0.373% | 4.471% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $3,125 | $37,500 |
| Vacancy | $466 | $5,589 |
| Management Fee | $746 | $8,942 |
| Expense / Income Ratio | 33.55% | 33.55% |
| Cash Flow | $4,979 | $59,748 |
| Net Operating Income (NOI) | $4,979 | $59,748 |
| Capitalization Rate | 0.20% | 2.39% |
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