Now, of course, this three-storey end-unit triplex isn't going to actually sell for $1.As listing agent Mojgan Mortazavi told blogTO, "This type of property is very unique, and there's not much comparison, so we are open to the offers in the purchasers' perspective."The bathroom in the basement unit.
Currently operating as a fully tenanted six-unit rental property, but vacant possession is also an option, this historic townhouse is brimming with opportunities.Whether you maintain it as an income property, convert it into a dream residence, or reimagine it as a chic boutique hotel, the possibilities are only limited by your imagination.Another unit with a fireplace and a stained glass window.
There are exposed brick, hardwood floors, and stained glass windows. In short, there's plenty to fall in love with. for a basement unit or studio, to current market rate of a one-bedroom at $2,290 a month, you could be making anywhere between $70,000 to over $150,000 gross per year. And since 37 Mutual St. is located just steps away from Toronto Metropolitan University and George Brown College, there will never be a shortage of renters.
And if that wasn't convincing enough, the listing mentions that the seller is willing to offer a vendor take-back mortgage, adding a layer of financial flexibility to sweeten the deal.Either way, I'm excited to see what this place actually sells for and what it possibly turns into.