When soulless grey boxes in the sky are the majority of the Toronto apartments out there, it’s a nice treat to find an apartment with charm, character, warmth, and flooring that isn’t grey vinyl.
9 A&B Humewood Dr. is one of those apartment buildings that packs a punch.
It features hardwood floors, fireplaces, crown moulding, vintage clawfoot tubs, stained glass windows, and more.
The front entrance.
Truly swoonworthy!
The garden.
And if you’re into the outdoors, 9 A&B Humewood Dr. might have the nicest garden of any apartment building in Toronto.
The pond with a water feature.
The professionally landscaped grounds have a private garden with a pond.
The garden shed.
There’s also in-ground lighting, a sprinkler system for keeping things low maintenance, and a large garden shed with all the equipment you could want to maintain your oasis.
Mosaic tile on the landing of the stairs.
What’s even nicer, if you’re in the market to buy an entire apartment building, is that the two fourplexes are listed for only $4,250,000.
The foyer.
And that’s down from the earlier listing price of $4,385,000.
A living room with a fireplace.
Which, if you really think about it, is surprisingly reasonable. There are single-family homes in that area that sell for more than that.
The kitchen in one of the units.
And, it’s not like the fourplexes are ready to be torn down.
A bedroom.
The property has been clearly well-maintained and is fire code compliant, according to the listing.
Another living room with a fireplace.
The buildings house eight two-bedroom apartments, each with its own private balconies.
The kitchen appliances could use some updating in some of the units.
There are definitely some things that might need updating in the units, and the fact that there isn’t in-suite laundry or air conditioning for the units might be a deal breaker for some renters.
The spacious living room.
However, given the location and the fact that the units are very spacious, the units will likely be rented out at close to market rate.
A private balcony.
Now, it’s unclear how much revenue each unit brings in since blogTO wasn’t given access to the financials at the time of publication.
A bathroom.
However, currently Toronto’s average rental price for two bedrooms is $2,900 a month, and the average rental price for the Humewood Cedarvale neighbourhood is $2,806 a month.
A dining room in one of the units.
Although, rent prices have been falling to record lows, and there’s no information on how many units are available, so charging current market rent might not be feasible right off the bat.
Another dining room or sun room.
But if it was, you’d likely make a net income of almost $300,000 a year, plus some extra from the coin-operated washer and dryer.
Views of the treetops from an apartment.
Although whoever buys this place likely won’t be buying it for the rental income, but more than likely for the investment potential.
Another private balcony.
With the new Eglinton LRT being close by and a dozen condo buildings in the works in the neighbourhood, this site is primed for a development project.
Views of the building.
All we can hope for is that the charming apartment building stays and a characterless condo doesn’t take its place.
