Mixed Commercial For Sale

St. Clair, Toronto

$888,000

St. Clair West , Toronto, ON, M6C

Owner`s Description

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THIS PROPERTY IS OFF THE MARKET UNTIL FURTHER NOTICE

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3 Stories plus basement mixed residential / commercial building.

4 apartment units on 2nd & 3rd floors, convenience store on main floor, and finished basement apartment. Fire sprinklers protected (2010), reinforced new front (2010), new awning added (2010), soundproofed (2010) between 2 units, interlinked and independant smoke alarms, 3 parking spots.

8 bedrooms, 6 bathrooms, 5 electrical meters, 2 gas meters, 2 furnaces, 2 central air conditioning units, 3 owned hot water tanks, 5 fridges, 4 stoves, 5 range hoods.

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** Business included in the price, inventories are extra **

Business is 7 years old, with lottery terminal, ATM (rental), debit terminal, phone card terminal (rental), cash register, microwave, food weight scale, printer/copier, 4 fridges (2 Pepsi owned), 2 chest freezers, monitored alarm, 2 survelliance monitors with 8 cameras, additional independant door alarms, and high speed cable internet service for all equipments.

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Monthly residential rents gross $3705, with business rent potential $2000 TMI. Yearly full rent out to gross $68,460, and net around $52,000. Business net $40-50k yearly with potential for more.

Please book viewing appointments well in advance that allows me to give AT LEAST 24 hours clear notice to tenants. There will be no guarantee that all the units will be viewable during viewings.

2% commission for agent when their client successfully close the purchase. However, the commission will be factored into the price.

Land size: 29.36x121.47 FT Building size: 20x60 FT

Take a cyber tour with the video slide first

Property Features

Appliances: Built-in Oven, Fridge, Stove	Floor Covering: Carpet, Ceramic, Hardwood, Laminate
Basement: Apartment, Potential Income, Separate Entrance, Totally Finished	Bathroom: Bath and shower, Bath Tub
External Facing: Brick	Garage: Double
Garage Spaces: 2	Driveway Details: Asphalt
Parking Spaces: 3	Exposure: North
Location Details: Near Park, Public Transportation

Property Costs

Property Taxes:
$12,259 / year

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Property Summary
Property ID:	9331
Property Cat:	Mixed Commercial
Property Type:	Commercial
Beds:	8
Baths:	6
Size:	1,200 sq. ft
Lot Dimensions:	3,509 sq. ft
Property Width:	20.00 ft
Property Length:	60.00 ft

Property Tax Calculation

"The Land Transfer Tax in Toronto, Ontario based on the selling price of $888,000.00 is $27,720.00 and the annual property tax based on Assessment value of $888,000.00 is $7,041.00."

* The land transfer tax formula for Ontario

$0 to $55,000.00 - land transfer tax is 0.5% plus $55,000.00 to $250,000.00 - land transfer tax is 1.0% plus $250,000.00 to $400,000.00 - land transfer tax is 1.5% plus $400,000.00 and up - land transfer tax is 2.0%

Plus

* The land transfer tax formula for Toronto, ON

$0 to $55,000.00 - land transfer tax is 0.5% plus $55,000.01 to $400,000.00 - land transfer tax is 1.0% plus $400,000.00 and up - land transfer tax is 2.0%

The annual property tax for Toronto ON

Assessment Value of $888,000.00

Total Tax is: $7,041.00*
$2,051.00 goes to Education
$4,990.00 goes to the City

The total property tax is divided between city tax and education tax. A portion of this tax goes to fund the Province's Education system.

For 2011 the municipal tax rate is 0.5619218%.
For 2011 the education tax rate is 0.231000%.
The total tax rate for 2011 is 0.7929218%.

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