The Location is ideal for the Proposed Development of a 200-unit, Eleven-story Rental Apartment Building, currently in the planning phase. This optimal utilization of the land is highly supported by Toronto's municipal policies that focus on increasing Rental Housing availability to address the current housing crisis in midtown Toronto.The land zoning originally included Rental Building and it is surrounded by Four high Demand Rental Complexes. Hence the previously approved townhouse project is no longer the Highest and Best Use of the land. The Land has been Appraised at $25,100,000 in 2023, mirroring its value with respect to the Proposed Development. According to the Appraisal Report, the completed building will generate over $5,500,000 Rental Income per year.
Extras
Furthermore, feasibility studies and additional information will be provided for the buyer's Due Diligence once a confidentiality agreement is signed following the acceptance of the Conditional Agreement of Purchase and Sale.
PART LOT 20 PL 115 TWP OF YORK PARTS 3 & 4, PLAN 66R26535, TORONTO (YORK) TOGETHER WITH AN EASEMENT OVER PART LOT 20 PL 115 PARTS 1 & 2, 66R26535 AS IN AT5005921 CITY OF TORONTO and PT LT 20 PL 115 TWP OF YORK AS IN CY643901,
Occupancy
Owner
Possession Date
TBD
Taxes (2023)
$16,500
Tax Type
Annual
Directions/Cross Streets
St. Clair and Winona
Neighbourhood
Oakwood Village
Area
Toronto
Price History
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Lot
71 x 303.5 ft
Total Area
21,098 ft2
Area Influences
Major Highway, Subways
Soil Test
Y
Sewers
San+Storm
Utilities
A
Water
Municipal
Survey
Y
Lot/Bldg/Unit Code
Lot
Zoning
RM
Seller Property Info Statement
N
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