51 Mcgee Street, Toronto, ON
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Property Highlights
Welcome to this remarkable 3-Storey fourplex located in the coveted neighborhood of South Riverdale. Expertly crafted featuring premium brick construction, this residence presents an exceptional opportunity offered at $2,890,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 8 Bedrooms and 4 Bathrooms with 4 functional kitchens
- Generous living space spanning 2500-3000 sqft on a premium 25 x 102.91 ft lot
- Features a apartment basement, adding superb versatility for recreation, a home gym, or extra storage
- 4.0 total parking spaces available with a convenient other configuration
- Notable attributes: None
- equipped with window unit(s) central cooling and highly efficient baseboard heating via electric
Description
Excellent investment opportunity at 51 McGee St! Newly renovated and well-designed legal fourplex featuring four self-contained rental units. Each unit has its own front entrance and rear entrance, offering excellent privacy and convenience. Basement 2-bedroom unit rented at $2,460/month. 1st floor 2-bedroom unit rented at $2,500/month until November. 2nd floor unit is currently vacant and was previously rented at $3,000/month. 3rd floor 2-bedroom unit is currently vacant and was previously rented at $2,800/month. Potential total income approximately $11,000/month. Great Airbnb potential with possible higher income. Excellent opportunity for investors seeking strong cash flow and future upside.
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This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 51 Mcgee Street, Toronto E01, ON M4M 2L1
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Toronto, ON
For a property listed at $2,890,000 in Toronto, the legal minimum down payment is $578,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $58,725 for this transaction. Since the property is located in Toronto, a municipal land transfer tax of $58,725 also applies, bringing the total estimated land transfer taxes to $117,450.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.
