$2,299,000 FOR SALE

Land

Lot: 75 x 121 ftTotal Area: 7,252 ft2
2023 Taxes: $9,760.92

5 & 7 Foxwarren Dr
Toronto, ON M2K 1L1 | Bayview Village

Prime Redevelopment Opportunity in a Coveted NeighbourhoodPresenting an exceptional opportunity to acquire a substantial parcel of land at 5 & 7 Foxwarren Drive, currently featuring one building with two assigned street numbers. This property is ideal for demolition and redevelopment into a fourplex and a separate garden suite.Potential Redevelopment Plans:Main Building (Fourplex): Can be designed to accommodate four spacious units, each featuring over 2,000 square feet with 3 bedrooms and 4 bathrooms. Includes the option to add an underground garage with a car lift for parking 6 vehicles.Garden Suite: A separate, two-level building with 3 bedrooms, 3 bathrooms, and a rooftop garden, covering approximately 1,100 square feet.Key Features:Large Land Area: The property spans 7,252 square feet, offering ample space for redevelopment.Versatile Design Potential: The existing building is currently furnished and decorated for 16 occupants, suitable for licensed short-term rentals or large families.Prime Location: Only 2.5 minutes walking distance to Bayview Shopping Mall and steps from the Subway Station.Cost Efficiency: No minor variance, committee of adjustment, or development fees required for the five legal units.Convenient Amenities: Proximity to shopping, dining, and public transportation.Immediate Rental Income: The seller will rent back the property for $7,800 per month for one year, providing the perfect timeline for final design, city zoning permits, and building permits. This arrangement offers significant rental income, facilitating easier mortgage acquisition for the buyer.This property offers a rare combination of substantial land area, redevelopment potential, and a prime location. Seize the opportunity to design and build a high-yield investment in a desirable neighbourhood.

Extras
This property is being sold for lot value only and Performa value. No interior showings will be available. A link to a YouTube video showcasing the house is provided.

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Listed By ZEN HOME REALTY
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number C8421362
Last Updated Jun 09, 2024
Property Summary
Property Type Land

More like this:
Use Residential
Category Designated
Legal Description Lot 198 Plan 4847 North York
Occupancy Partial
Possession Date Immediate/TBA
Taxes (2023) $9,760.92
Tax Type Annual
Directions/Cross Streets Bayview And Sheppard
Neighbourhood Bayview Village
Area Toronto
Price History
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Detailed Information
Freestanding Y
Bathrooms 3
Lot 75 x 121 ft
Total Area 7,252 ft2
Air Conditioning Y
Garage Type Outside/Surface
Parking Spaces 8
Heat Type Gas Forced Air Closd
Sewers Sanitary
Utilities Y
Water Municipal
Lot/Bldg/Unit Code Lot
Zoning Residential/ Short-Term Rental Licenced
Seller Property Info Statement N

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