Pre Reno Rent: $1,411.00
Post Reno Rent: $3,550.00
Rental Value Increase: 152%
Project Cost: $246,400.00
Return On Investment: 10.42%
Renovation Project
Queen West
The Project
Trinity Bellwoods is a very trendy area of downtown Toronto. I guess our clients had faith and the foresight that this area would become so valuable when they bought this property in the mid 1990’s. We have been managing this property for nearly two decades.
The basement of this house had been vacant for almost 13 years while the main floor, one bedroom unit, and second floor, two-bedroom unit, were rented on an on going basis.
Our clients provided us with a task to see how we could monetize the basement space without breaking the bank – we proposed merging the main and basement units into a spacious, open-concept layout.
Despite initial reservations about a basement bedroom, a collaborative decision was made to proceed. The transformation resulted in a modern, appealing space with high ceilings, a stylish kitchen, and well-appointed bathrooms on the main floor. The property leased quickly, even before being listed at full asking price.
