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$24,800,000
Available - For Sale
Listing ID: C11934192
The Location is ideal for the Proposed Development of a 200-unit, Eleven-story Rental Apartment Building, currently in the planning phase. This project is perfectly aligned with the Multi-Unit CMHC approval process, offering an exceptional opportunity to secure the maximum 100 points in the MLI Select program. It's a once-in-a-lifetime chance to own a rental, retirement, or student housing property in the heart of Toronto's Midtown one of the city's hottest rental markets. A prime opportunity that forward-thinking developers are actively pursuing in Toronto's core neighborhoods NOW.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 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 , mirroring its value with respect to a rental building . According to the Appraisal Report, the completed building will generate over $5,500,000 Rental Income per year. The owner developer is willing to acquire the Site Plan Approval if the Buyer asks for it with an agreeable extra cost. Listing brokerage & Seller make no representation and/or warranties with respect to the Property Tax, Approvals etc. Buyer must conduct own Due Diligence to verify all information. **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.
Price $24,800,000
Taxes: $16,500
Tax Type: Annual
Occupancy by: Vacant
Address: 464-468 Winona Dr , Toronto, M6C 3T7, Ontario
Postal Code: M6C 3T7
Province/State: Ontario
Legal Description: PART LOT 20 PL 115 TWP OF YORK PARTS 3 &
Lot Size: 71 x 303.5 (Feet)
Directions/Cross Streets: St. Clair and Winona
Zoning: RM
Category: Designated
Use: Residential
Total Area: 21,098
Total Area Code:  Sq Ft
Area Influences: Major Highway   Subways
Soil Test: Y
Sewers: San+Storm
Water: Municipal
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SOLTANIAN REAL ESTATE INC.

464-468 Winona Dr , Toronto, M6C 3T7, Ontario

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Maria Tompson
Sales Representative
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416-548-7854
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416-548-7854
Fax:
416-981-7184

 
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Type: Com - Land
Area: Toronto
Municipality: Toronto
Neighbourhood: Oakwood Village
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Lot Size: 71.00 x 303.50(Feet)
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Tax: $16,500
Maintenance Fee: $0
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Personal Pic Maria Tompson Sales Representative Your Company Name, Brokerage Independently owned and operated. pic Cell: 416-548-7854 | Office: 416-548-7854
Personal Picture
Maria Tompson
Sales Representative
Your Company Name, Brokerage
Independently owned and operated.
sales@bestforagents.com

 

 

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