Upper Junction Renovation

Renovation Project

Upper Junction

Pre Reno Rent: $1,414.00
Post Reno Rent: $2,400.00
Rental Value Increase: 70%
Project Cost: $136,146.00
Return On Investment: 8.69%

The Project

This Upper Junction property was in need of an update after 15 years of management and some tenants vacating after 10 years of tenancy.

We have been managing this property for over 15 years. It’s a three-unit property in purpose-built three-unit buildings several of which dot the GTA across its expanse.

Tenants in the upper unit had been there for over a decade and needless to say, the unit was tired and needed a much-awaited upgrade. Our client was hesitant at first to spend money on a three bed one bath unit which on the face of it would not be a money-spinner. After much deliberation with our client, we were finally able to get her to agree to the renovation doubling down on our conviction that we would be able to get her double the rent if not more, inspired by the pandemic.

We opened up the kitchen to make the living dining kitchen into a modern open-concept space. We added a side by side laundry to the suite with a quartz counter on top as well as incorporated a mudroom with sliding closets. We added a his-and-hers closet in the master as well as an r suite two PC powder room which was huge in the marketing of this unit as one bathroom with three bedrooms is a recipe for disaster in the mornings, for most households.

The main bathroom was gutted and a brand new tub toilet vanity, tiles were installed. Potlights throughout the unit. We also installed brand new windows with a white frame inside and black outside to give it that edgy look. All in all, this project came out well put, within budget and was rented right away at double the previous rent.

Post Renovation

Pre Renovation