“I don't have a listing there, but The East Mall is probably the sweetest spot for that type of property given its proximity to the downtown and the public transit that makes it easier for those who work and play there to get home,” said Romey Halabi, a property investment specialist with Sutton-Group Tower Realty. “The sweet price range for rents would be $800 for a smaller apartment to $1,450 for a larger one.”
The assessment mirrors those of two other Realtors focused on helping investors into GTA properties. Inventory challenges and some of the highest asking prices in the city’s history have stymied the acquisition plans of many small-apartment buyers, especially those focused on solid cash flow and not necessarily on value appreciation.
Solid income earners looking for rental digs in the Old City of Toronto are increasingly facing the same challenges, something helping lift demand for East Mall apartments. Investors should be increasingly aware of that trend, said Halabi.
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