A quick question. I assumed no major structural changing on foundations, and no new roof replacement needed. Just electrical, water pipes, heat pipes, entrances doors are needed in main. Am i right? Cant wait to see the GS. And i really want yo see the cost breakdown. Thanks
They did extensive fire separations, replaced heating system with zoned radiant heating, and used very high end finishes for kitchen and baths. The scope was quite extensive to get it to the high quality units with individual water and hydro meters.
This does not make any sense. Who would rent this strange units if you can get the full condo for that price? Basement room for 2K? 600 Strange 1 bedroom for 2.2?? 3.5% cap rate at best? + vacancy + Hussle.... unless i do not understand something... not worth it unless you live in one unit and rent the others but the life experience will be so so...
Great information. Who would ever thought that a one storey sf house would result in 4 620 sf units + 520 sf ADU one floor ...thanks for sharing. Happy Holidays
Are these potential rental income numbers backed up by data? It seems way off for the size of the unit. How comparable are these to condo rentals with the same size? Its def a cool idea, but I think for the 4-plex to work, you'll have to do a tear down or addition to make units that people want to actually live in. min 1200 sqft. I think a duplex would probably be the best way to convert these single family homes + garden suite. You may lose out on some rental income but shouldn't be by much?
The rental numbers were comparable to other similarly sized 1 bedroom units in the area of multi-unit homes. Condos of the same size would be similar in price, and there is a big demand from people who want to live in RD zone for access to community amenities not available to condo residents.
Excellent video, very informative. Regarding the sub-meters, could you provide the link or name of the hydro and water sub-meters used? By the sounds of it, they are some kind of smart sub-meters which transmit data to an online database for the owner to use in splitting the bills. Looking at installing something similar for my project. Thank you in advance.
I have a few questions, Hello, I am planning to do something similar with a potential 2 units in my basement + GS, while living upstairs myself. Where is this property located, and how do you handle parking for so many units on a single-family home lot?
Very interesting, looking forward to see a cost breakdown for all this and maybe even contacting you to see what's possible. In my opinion the rent numbers are very inflated even for Etobicoke. You have to consider the income, family side, parking spots for renters that choose to live in this style of property. Since this isn't even a low-rise and very cramped with no balcony and very little outdoor space.
I will admit the 4 units(1bedroom each) are nicely done. On the other hand why would you charge 2400/2200 month when most are suffering with $$$$ , why not charge 2000 each ,that 8000/month or even better 1800 ,thats 7200/month ,this would help the renters and also some cash flow for owner. What will it to get people stop thinking about there dam wallet and starting helping each others out .
It was very expensive for him to do the conversion, and the market rent only covers the cost to maintain the mortage and the expenses that went into this large renovation. $7200/mth does not cover the cost to acquire the house and all the work that went into this project unfortunately - as well as ongoing maintenance.
@@suiteadditions Ok ,so 7200 covers the mortgage and reno's I get it ,I'm sure they will rent , but for 7200/month I would have bought a tri-plex with 6 full aptements including parking and laundry with positive cash flow from day one
This should be illegal, houses are not meant to become apartment buildings. This is why we have a housing crisis
You haven't been following building code and bylaws for the last 10-15 years. Good luck living in Canada
increasing supply helps with the crisis >>> EDUCATE YOURSELF
Good job, who was the architect you used for this project?
A quick question. I assumed no major structural changing on foundations, and no new roof replacement needed. Just electrical, water pipes, heat pipes, entrances doors are needed in main. Am i right?
Cant wait to see the GS.
And i really want yo see the cost breakdown. Thanks
They did extensive fire separations, replaced heating system with zoned radiant heating, and used very high end finishes for kitchen and baths. The scope was quite extensive to get it to the high quality units with individual water and hydro meters.
This does not make any sense. Who would rent this strange units if you can get the full condo for that price? Basement room for 2K? 600 Strange 1 bedroom for 2.2?? 3.5% cap rate at best? + vacancy + Hussle.... unless i do not understand something... not worth it unless you live in one unit and rent the others but the life experience will be so so...
Yea those rents are absurd for a one bedroom in a bungalow. You could have your pick from a wide range of condos with amenities at that price.
There is proximity to a hospital and has access to many community amenities that are not available to condo residents being in a RD zone.
Great information. Who would ever thought that a one storey sf house would result in 4 620 sf units + 520 sf ADU one floor ...thanks for sharing. Happy Holidays
@layperson Yes we definitely need to get creative with housing these days.
Are these potential rental income numbers backed up by data? It seems way off for the size of the unit. How comparable are these to condo rentals with the same size?
Its def a cool idea, but I think for the 4-plex to work, you'll have to do a tear down or addition to make units that people want to actually live in. min 1200 sqft.
I think a duplex would probably be the best way to convert these single family homes + garden suite. You may lose out on some rental income but shouldn't be by much?
The rental numbers were comparable to other similarly sized 1 bedroom units in the area of multi-unit homes. Condos of the same size would be similar in price, and there is a big demand from people who want to live in RD zone for access to community amenities not available to condo residents.
$2400/month rent for 620 sq ft. Am I understanding this correctly?
I live in Winnipeg. What's the minimum wage in Toronto??
Excellent video, very informative. Regarding the sub-meters, could you provide the link or name of the hydro and water sub-meters used? By the sounds of it, they are some kind of smart sub-meters which transmit data to an online database for the owner to use in splitting the bills. Looking at installing something similar for my project. Thank you in advance.
Check out waterbillsolutions.com
Do u hav the link for the 80k loans?
Not yet available - should be in 2025
Great vid u got new subscriber
I have a few questions,
Hello, I am planning to do something similar with a potential 2 units in my basement + GS, while living upstairs myself.
Where is this property located, and how do you handle parking for so many units on a single-family home lot?
This property is located in Etobicoke, and it has a double wide driveway that can support many vehicles (although it's not required).
i love your videos andy, but the rent here is outrageous. Idk what kind of research he did because a 1 bed condo in core downtown is 2k
how much it cost to make this 4 unit?
@roger8913 Still adding up the receipts!
What’s the address of this property?
One more question, for the washer/dryer, are those all in one units? Both drying and washing? is there a vent required?
Correct they are 2-in-1 units
Very interesting, looking forward to see a cost breakdown for all this and maybe even contacting you to see what's possible.
In my opinion the rent numbers are very inflated even for Etobicoke. You have to consider the income, family side, parking spots for renters that choose to live in this style of property. Since this isn't even a low-rise and very cramped with no balcony and very little outdoor space.
Dont mention the cost, not sure about the purpose of this clip
I will admit the 4 units(1bedroom each) are nicely done. On the other hand why would you charge 2400/2200 month when most are suffering with $$$$ , why not charge 2000 each ,that 8000/month or even better 1800 ,thats 7200/month ,this would help the renters and also some cash flow for owner. What will it to get people stop thinking about there dam wallet and starting helping each others out .
It was very expensive for him to do the conversion, and the market rent only covers the cost to maintain the mortage and the expenses that went into this large renovation. $7200/mth does not cover the cost to acquire the house and all the work that went into this project unfortunately - as well as ongoing maintenance.
@@suiteadditions Ok ,so 7200 covers the mortgage and reno's I get it ,I'm sure they will rent , but for 7200/month I would have bought a tri-plex with 6 full aptements including parking and laundry with positive cash flow from day one
No room for parking and 4x the garbage being produced from what used to be a single family home. Basically an over priced rooming house.
Ruining neighbourhoods everywhere.