For pictures and marketing materials, click here
http://www.1181queenwest-condos.com/
PROJECT SUMMARY:
PROJECT NAME: 1181Queen West Condos
ADDRESS: 1181 Queen Street West In Toronto
PROJECT TYPE: Condominium, Retail
DEVELOPER(S): Skale Developments
ARCHITECT(S): Quadrangle Architects Ltd.
UNITS: 146
STOREYS: 16
UNIT SIZES:
ESTIMATED COMPLETION DATE: End Of 2021 (most likely End of 2022)
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Total Score
3.9/5
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Location
Score: 4/5
Queen West area (near Dufferin, Ossington)
Pros:
Trendy, hippy
Lots of culture and potential for growth
Close to Gardiner/QEW
Trinity Park & High park nearby
Cons:
Beside railway (noisy)
Pretty far from Yonge (25min streetcar ride Queen Station)
For detailed analysis, please download this report
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Luxury
Score: 4.5/5
This project is pretty high-end.
I wouldnโt say high-end like Shangri-La or Four Seasons
but definitely higher than your usual projects.
Funky architectural designs are usually
more luxury than average, and this fits the description.
Checkout the brochure for details.
Below are some pictures
For detailed analysis, please download this report
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Value
Score: x/5
Letโs compare it with some existing units
to see if this is a good deal!
First we find some comparable units.
Then we bring them to equal comparable settings
See if the value is good.
Comparable units
#12xx -68 ABELL ST, Toronto, Ontario M6J0B1 (as of March 2018)
$539,000
2 bedroom, 2 bath
615sqft
East view
+1 parking space
= $xxx psf
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For detailed analysis, please download this report
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Layout
The building has an interesting shape.
Often times we are fascinated by interesting shapes,
But most experienced investors know that
square or rectangle shapes are the best!
No circles or triangles.
These weird shapes tend to make decorating the condo
Difficult unless you have extremely good
Design sense or hire an interior designer
Who will help you decorate.
Pros:
High-end (not your average economy condo)
Very nice design & materials overall
Cons:
Expensive for the area
Beside railroad (can be a deal breaker if you are sensitive to noise)
Letโs take a look at individual layouts.
Iโve gone through every single layout and did the analysis.
Below are my top 3 picks.
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For detailed analysis, please download this report
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Cash flow
To give you an idea for what the cashflow will look like,
Iโll use the 709sqft unit example as that is what I would buy.
$xxx,000
Initial investment: 20% downpayment + closing cost 6% = $xxx,000
Mortgage amount: $xxx,000
Total Monthly expenses = $xxxx
Expected Monthly rent in 2022 = $xxxx ~ xxxx
Monthly position on first year = -$xx ~ -$xx
Keep in mind that this is the cheapest unit in the project.
Other larger units are not very investment type,
they are more โyou move in and you fall in loveโ type of
principal residence kind of units.
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For detailed analysis, please download this report
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Summary
In summary,
I think there are a few units in the project worth investing.
As you may know about me,
it is really all about
โbuy low sell highโ
The first part of that phrase is โbuy lowโ.
Everything starts with โbuy lowโ.
In this project there are some units that have
good potential to be โbuy lowโ.
If youโre looking to buy as your home to move in,
the larger units with good layouts and large terrace
can be a very good place to live,
especially if you consider
how the neighbourhood is going to develop in the future!
Please review the information,
donโt hesitate to contact me via phone, text or email to discuss.
๐
Thanks for reading my analysis,
I wish you wealth & abundance!
For my detailed professional analysis + complete investor package including floor plans, price list, please click here.