Develop & Construct or Own & Operate - Be opportunistic in a transitioning neighborhood! Recently rezoned TD1 site on 0.34 acres. Located less than 400m to the Cyrville Transit Station with plans for a 6-storey mid-rise residential building. Currently operates as Triplex-Office with three 2BDRM units, an office building and fenced storage yard. Unit 1 (lower): Vacant-renovated with projected rent $1850/month incl. Unit 2 (ground): Spacious-upgraded eat-in kitchen $1950/month incl. Unit 3 (upper): Bright-upgraded kitchen and bath $1940/month incl office outbuilding with bathroom Fenced Year Yard: Vacant-previously leased for $1350/month for equipment storage - professionally graded with compacted gravel and separate gated entrance. Storage Shed: 2 Storage Units included with Unit 1&2 Parking: 8 spaces (included) Current income is $46,680/year with potential to increase to $85,080/year. Notices for rent increases of 2.5% take effect in October 2024. Existing leases 1yr+ (id:47423)
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Detailed Information
Lot
100 x 150 ft
Listing Contract Date
2024-07-13
Maintenance Fee Type
Waste Removal, Heat, Electricity, Water, Insurance, Other, See Remarks
Municipal ID
042630224
Ownership Type
Freehold
# of Parking Spaces
20
Property Type
Office
Transaction Type
For sale
Zoning Description
TD1[2755]-h
Building
Land
Total Size
0.34 acres
Size of Irregular Land
0.34
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