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.
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
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
The information contained on this site is based in whole or in part on information that is provided under copyright by the Toronto Regional Real Estate Board (TRREB) or by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. TRREB and CREA reproduce and distribute this information as a service for their members and assume no responsibility for its accuracy. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations of any kind are made with respect to the accuracy of such information. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.
