This is a micro cache that will take you to Graffiti Alley in Toronto, where supposedly, Felix lives. The cache is right across from the gate that we see leading to his loft. If you keep walking toward Spadina, you will come across the famous platform where the Steam bath guy stands. The whole alleyway is really worth a visit, and it's constantly changing. Just a word of caution, I would only recommend looking for this cache during the day, as it can be rather sketchy.
The cache is magnetic and fits Felix's personality, and therefore can't really be confused with the garbage that lays everywhere around there (warned you). What can I say, this is for the true Clone Club members.
Note: Cameron's House or Bobby's bar in the show, is right nearby, on Queen St just before you hit Spadina.