Massey St – Upper Unit Reno

Massey St
Upper Unit
Reno

Prior to the renovation, the unit had been lived in by a tenant who had revolving room-mates. The tenancy had begun May 1, 2008 and LPRM negotiated tenant move out for August 31, 2015. With this occupancy, the unit became significantly deteriorated while the tenant enjoyed a significantly under-market value rental amount. The unit definitely needed to be updated to participate in the higher market rental rates that Toronto was experiencing in 2015. Through discussion with the owner, Landlord Renovation Inc., put together an extensive scope of work to completely update both the layout of the unit, while also performing some structural changes.

Pre Reno

Photos

  • Updated HVAC
  • Updated Plumbing
  • Updated Electrical
  • Completely relocated and remodeled kitchen
  • Main level bathroom relocated and remodeled
  • Relocated stairway to 2nd level loft floor built with metal railing and glass partition wall
  • Added a 2nd bathroom for the unit on the 2nd level loft floor
  • All new flooring throughout
  • All new appliances
  • All new cabinetry and fixtures
  • New Windows
  • New deck on the main level
  • New 2nd floor loft deck where none existed before

Pre Reno
Rent

$1411.10

Post Reno
Rent

$3250.00

Rental Value
Increase

130%

Project
Cost

$173,510.00

Return On
Investment

12.7%

Post Reno

Photos