With many clients thinking about investment properties, they naturally gravitate towards pre-construction condos. That is, in fact, the norm in Toronto – purchase a pre-construction condo at the lowest price possible, in order to rent it out for maximum profits.
And this is an incredible strategy that has proven time and time again works very well. But with the new Toronto condo landscape, there are many other opportunities to “invest”, and they include suites that are offered at resale.
We’ve been hearing for quite some time that the condo market has dipped and there are plenty of suites to choose from. Well the tide is shifting – if you’ve looked at any real estate news from the past week, you’ll have seen this among the reporting, and it’s happening. Prices are starting to swing back up, and suites are being purchased at a very fast pace. The dip didn’t last long, but long enough for smart buyers to take advantage.
There are still some great investment properties out there, so we rounded up a handful of suites that we think make exceptional investments. Some are for investors, and some are for end users. Yes – end users.
When you purchase a condo or home for personal use, it is, after all an investment. You want to be sure you’re getting a solid appreciation in value while you’re living there enjoying your life. And there are some that are better opportunities than others. Let’s take a look.
*At the time this blog was written, the listings below were all live, active and available. DM us if you’d like to see more details on any of them, or if you’d like to see what’s available that could work for you.
Toronto East – Investment Properties in Riverside
One of the best neighbourhoods in all of Toronto for both living and investing is Riverside. Hands-down. It is highly sought after among those looking to live away from the noise of the downtown core, yet close and accessible enough via TTC that you can get in and out in no time.
It really has a neighbourhood vibe that’s suitable for families, young professionals and both older and younger couples – you’ll see all walks of life cruising the streets with coffee in hand on any given weekend. And that’s what makes it pretty special.
From an investment perspective, Riverside is poised to still see exponential growth in the coming years. Its close proximity to the East Harbour Master-Planned Community and the Lower Don Lands project help the area top our list of investment musts. Growth will continue, and plenty of it.
15 Baseball Place #612
Details:
- Brand new, never lived in suite at Riverside Square Condos
- 600 square feet
- 1-bedroom, 1-bathroom
- South-facing terrace
- List Price: $669,900
Why We Love It:
This listing stood out to us because it’s actually like buying pre-construction without the wait. Riverside Square is registering this month, so you’ll be able to move right in as an end user or rent it out immediately as an investor.
This condo is ideal for a young professional looking to get into a starter condo close to the downtown core, or even a couple moving in together for the first time. The open concept living space makes working from home possible. The massive terrace expands all of your living space during the warmer months.
The appreciation in value this type of large one-bedroom will see in the future will pay off greatly. 600 square feet 1-bedroom condos won’t be the norm, as footprints get smaller and smaller.
The neighbourhood of Riverside makes this very desirable among renters for those looking at a long-term hold.
15 Baseball Place #609
Details:
- Brand new, never lived in suite at Riverside Square Condos
- 1100+ square feet
- 3-bedrooms, 2 full bathrooms
- 450 square foot South-facing terrace
- List Price: $1,159,900
Why We Love It:
We know what you’re thinking – a 3-bedroom condo as an investment? Our answer is simple – YES! Suites of this size, in this neighbourhood with this much outdoor space will make you feel like you’re living in a semi. In fact, your outdoor space will be likely larger with this terrace than some of the semi-detached or even detached homes we’ve seen.
We’ve seen a lot of situations recently where young adult children have moved back in with parents to help navigate through the challenges of COVID. This is the perfect layout for that precise situation.
Even if you have a growing family, it’s ideal with 3-bedrooms and 2 full bathrooms. If you’re a professional couple, the third bedroom can be used as a fully closed off, private at-home office.
Floor plans of this size will become quite rare, so opportunities like this will be few and far between. And don’t forget – this suite has never been occupied so it’s like buying pre-construction without the wait – the best of both worlds once again with this opportunity at Riverside Square.
Yorkville – 155 Yorkville Avenue, 31st Floor
Yorkville will always be a destination neighbourhood for those looking to live in and invest in. They hype rings true with its glamorous buildings, high end shops and some of the best restaurants in Toronto
Overseas buyers are consistently looking for themselves, or even their children who may be attending University in Toronto.
Others are looking for a part-time city condo, as spending less time in the downtown area and more time at the cottage flips the demands on the need for space.
Details:
- 2-bedrooms
- 2-bathrooms
- Parking included
- Locker included
- Price: $869,000
Why We Love It:
The main reason this suite is on our list of investment properties, is at the time this blog was posted, it was the ONLY 2-bedroom condo in Yorkville for under $1 Million. In fact, it’s listed for under $900k.
You can’t even get into a 2-bedroom pre-construction condo in Yorkville for close to that price – and this suite includes parking and a locker.
Did you know that at 11 Yorkville, which is currently selling pre-construction suites, the parking alone is $199,900?!
This suite is an amazing addition to an investor’s portfolio as a marquee condo in Toronto’s most posh neighbourhood. And with a posh neighbourhood comes elevated rents and greater returns. You’ll have no problems renting this out to downsizers, or those looking for a part-time home in the city.
You’ll also find high end finishes in this suite that are unlike traditional downtown condos. Pot lights, integrated appliances, walk-in closet, high-end European style kitchen – these are all features you’d expect to find in a Yorkville condo, and this is no exception.
Leslieville – 1447 Dundas Street East
Details:
- 3-Bedrooms
- 5 Bathrooms
- Fully renovated
- Finished basement
- Backyard + deck
- Price: $1,349,900.00
Why We Love It
Many readers will be surprised with this selection, but we have to be honest – a single family detached home in Leslieville will always be on the list. Especially at this price.
Leslieville is THE destination for families, and to be honest, some simply can’t get together the deposit to purchase. Especially during these trying times. But a lot of people with families want to live there for its amazing school district, family-friendly vibe and its easy access to downtown.
A single-family detached home in Leslieville wouldn’t last long in the rental market and would likely be snagged up by a lovely family who is looking for a long-term home.
It’s one of the more unique investment properties, but even if you’re thinking you may want to get into a single family home a number of years from now, this could be a great investment with parents or a sibling for a long term hold that will pay off greatly in the future.
Investment Properties in Toronto
Investment properties are meant to be thought of in many different ways, and these are just a snapshot of the untraditional ways of getting into the real estate market. The lines between investor and end-user are blurring, which is why so many people are now considering themselves investors.
It’s not about the smallest suite any longer and the demands are no longer there. They are changing with the market and with smart strategies, there are many different ways to win.
If you’d like more information on any of these listings, or new listings that fit your specifics, simply fill out our form below – we’ll be in touch right away.
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