Small Bungalow With CMHC MLI Refinance
- Location: East York
- Scope: Top-up bungalow to create 4 x 3-bed units + add 3-bed garden suite
- Construction Timeline: 12 months
- Goal Achieved: Maximize lot potential, qualify for CMHC MLI Select, and create a high-cash-flow, refinance-ready multiplex
What We Did:
We added two full storeys to a small post-war bungalow, creating four large 3-bedroom units (each ~1,000 sq ft). In the backyard, we built a fully detached 3-bedroom garden suite.
All designs hit energy efficiency targets to qualify for CMHC MLI Select, which means the owner got reduced insurance premiums, lower interest rates, and better loan terms. More money stayed in their pocket.
Why It Worked:
- Smart density: 5 full units with no development charges (ADU deferred)
- New 3-bedroom layouts = higher rents and stable family tenants and no rent controls
- MLI Select = better financing on refinancing and fully cashed out
- Project is expected to cash flow $3,000+/month, even after pulling all equity out