Spruce is an excellent investment property. A few of you have been thinking of purchasing one of these homes as a rental unit. And for those of you who will live here, who knows? You might want to take off to Europe for a year, and rent out your place while you’re gone.
Either way, we thought you might like to get a look at some typical rental rates in the area, to get an idea what you could expect to charge in rent at Spruce.
The following rates are based on comparable homes – usually, suites that are 0-5 years old, in contemporary towers like Spruce. The figures were supplied by One West Properties, a firm that specializes in crunching data like this. So they offer a pretty reliable idea of what your home at Spruce will earn in rent every month.
1 bedroom (@ 530 sq. ft.) = approx $1400/mo
1 bedroom + den (@ 655 sq. ft.) = approx $1600/mo
2 Bedrooms (@ 900 sq. ft.) = approx $2300/mo
It’s clear that these boutique homes are great rental properties – and a very solid investment, all around.
