$8,690,000
FOR SALE

Investment

Lot: 75 x 125 ftTotal Area: 11,232 ft2
2023 Taxes: $21,542.8

97 Lee Ave
Toronto, ON M4E 2P2 | The Beaches

Boutique living redefined in the heart of the Beaches. This iconic address boasts 6 multi-story lofts and 4 exquisite suites (10 large suites in total), following a significant two-year building restoration program (2021-23). With millions invested, 65% of the property's square footage has been meticulously upgraded to luxury standards. All remodeled suites immediately captured significantly higher rents, proving that investment case to continue with luxury renovation plans as tenants churn. Tenants desire large multi-level lofts, complete privacy, luxury renos, with surface parking and no elevators! Nestled on a spacious 75x125 ft lot, the building showcases 11,000 sq ft of living space, complemented by 10 surface parking spots, 10 personal storage lockers, and various alfresco areas. With a blend of contemporary luxury, timeless exposed brick and beam, elegant hardwood floors, and abundant natural light, steps to Kew Gardens, the boardwalk, Financial District and More.
Extras
Suites 1,3,4,8 were completely remodeled to luxury status (2021/23). Suite 6 & 10 have provided N11 form and will be moving out soon presenting a unique rear Suite with private entrance that is expected to boost ROI post a luxury renovation
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Listed By FOREST HILL REAL ESTATE INC.
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number E8287512
Last Updated Apr 30, 2024
Property Summary
Property Type Investment

More like this:
Use Apartments - 6 to 12 Units
Category Apartment
Legal Description Plan M238 Lots 140 To 141 Pt Lot 139
Occupancy Tenant
Possession Date TBD.
Taxes (2023) $21,542.8
Tax Type Annual
Directions/Cross Streets Queen St. E & Lee Ave.
Neighbourhood The Beaches
Area Toronto
Price History

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Detailed Information
Freestanding Y
Bathrooms 11
Lot 75 x 125 ft
Total Area 11,232 ft2
Air Conditioning Y
Basement Y
Chattels Y
Garage Type None
Parking Spaces 10
Heat Type Baseboard
Financial Statement N
Outside Storage N
Area Influences Public Transit, Rec Centre
Sewers Storm
Utilities Y
Water Municipal
Crane N
Survey Y
Lot/Bldg/Unit Code Lot
Zoning Multi-Residential
Seller Property Info Statement Y

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