With so many great neighbourhoods in downtown Toronto to invest in income properties it can be hard to know where you should choose.
Some people prefer west of Yonge, whereas some others prefer to be on the east side. The reality is that these days there aren’t really any bad areas in Central Toronto to buy real estate in. Many opinions vary on where are the nicest parts of Central Toronto.
So, what is your favourite neighbourhood?
There are many neighbourhood guides out there that rank all the Toronto neighbourhoods and score them by transit access, overall safety, shopping, good schools, etc. Toronto Life magazine has been putting out a yearly directory every year and their top areas often change. I will highlight several of the best areas in Toronto that have always been attractive for landlords.
Five Toronto neighbourhoods where you can’t go wrong:
Riverdale, just east of the DVP and south of Danforth is split into Upper and Lower Riverdale at Gerrard. Upper Riverdale has access to Danforth shopping and subway as well as wonderful Withrow Park, one of the nicest parks in the city. Lower Riverdale down to Queen (also known as Riverside) has also become very popular with its proximity to downtown.
The Danforth (also known as Greektown) has some of the best amenities in the City and has the desirable Playter Estate and old East York neighbourhoods to the north. I have lived in and worked in Riverdale for the past fifteen years and still love it. The access to the DVP, subway stations and arguably the best restaurants in town just can’t be beat.
2. Bloor West / Runnymede Village
This neighbourhood is safe and accessible and has direct access to the Bloor subway. The houses are older and charming. There is great access to many shops along Bloor as well as proximity to High Park
3. Rosedale/Moore Park
This area is a little more expensive, but it has some of the finest houses to be seen in the City. 50% of all Rosedale residents live in condos and high-rise apartment towers. There is great access to the subway and excellent retail.
4. Davisville/Mount Pleasant
This midtown neighbourhood has seen many new condo projects in the past few years which has made this area very popular for renters. Some of the finest restaurants and retail can be found here. When the new Crosstown LRT is completed, you will have access to this great new enhanced transportation as well as access to the existing Yonge subway line.
5. Trinity Bellwoods
This area particularly centered around beautiful Trinity Bellwoods Park has become a bit of a “hipster” haven. Dundas West and lower Ossington have become know for their eclectic restaurants and bars. Some of the older streets have been gentrifying making this a very desirable are for investment.