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Picasso Place 13042 Yonge St 64 Unit Apartment Building $26,262,228 USD ($410,347 USD/Unit) 4.08% Cap Rate Richmond Hill, ON L4E 1N6
Investment Highlights
- Amenities include lockers available on each floor, bicycle racks, full Gym and a rooftop green-deck.
- Fibre Optic Internet is also built in through Bell via the SmartOne system.
- There is SmartOne integration through the building.
- Picasso Place is currently self-managed, and tenants are qualified prior to lease up.
Executive Summary
13042 Yonge Street (Picasso Place) is located in the Oak Ridges neighborhood of Richmond Hill, a well-established and growing community known for its family-friendly atmosphere and proximity to nature. Situated along Yonge Street, one of the GTA’s busiest and most accessible roads, the property benefits from excellent connectivity. Public transit options, including York Region Transit bus routes, are readily available, making it easy to travel within Richmond Hill and connect to GO Transit for trips to downtown Toronto.
The Property consists of 64 units; 47 one bedrooms, 15 two bedrooms and 2 two bedrooms with a terrace.
The Property consists of 64 units; 47 one bedrooms, 15 two bedrooms and 2 two bedrooms with a terrace.
Property Facts
| Price | $26,262,228 USD | Building Class | C |
| Price Per Unit | $410,347 USD | Lot Size | 0.60 AC |
| Sale Type | Investment | Building Size | 64,102 SF |
| Cap Rate | 4.08% | Average Occupancy | 75% |
| No. Units | 64 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 1.08/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | GC1 | ||
| Price | $26,262,228 USD |
| Price Per Unit | $410,347 USD |
| Sale Type | Investment |
| Cap Rate | 4.08% |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 64,102 SF |
| Average Occupancy | 75% |
| No. Stories | 5 |
| Year Built | 2024 |
| Parking Ratio | 1.08/1,000 SF |
| Zoning | GC1 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wi-Fi
Site Amenities
- Fitness Center
- Security System
- Tenant Controlled HVAC
- Storage Space
- Bicycle Storage
- Elevator
- Key Fob Entry
- Smoke Detector
- Backup Power / Generators
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Fairly walkable
50/100
Exceptionally drivable
100/100
Strong public transit
80/100
Moderately bikeable
70/100
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Picasso Place | 13042 Yonge St
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