Builders - contractors - Investors. Here is an opportunity to either build a new apartment building of up to 10 units or renovate the existing 6 unit apartment building. This building lot is zoned for up to a 10 unit apartment building. Present zoning is R4AU and new zoning is N3B. Lot size is 55 ft x 79 ft. The location is minutes to downtown, walk to trendy Beechwood Avenue. This is an excellent rental area. Presently there is a vacant 6 unit apartment building that is structurally sound however experienced a fire in the basement unit. The building could be repaired and brought back to operation. The building has 6 - 2 bedroom apartments all with laundry facilities. The new zoning will permit the construction of up to a 10 unit apartment building. The lot is serviced with hydro, gas, water and cable. Ideal for a builder interested in building a new apartment building or for a contractor to renovate the existing 6 unit apartment building. Survey is available upon request. The listing agent must be present to provide access to the apartment building. (id:28469)
Facts & features
Property
MLS® Number
X13678450
Property Type
Vacant Land
Community Name
3402 - Vanier
Building
Size Interior
3,000 - 3,500 Sqft
Land
Acreage
No
Size Depth
55 Ft ,2 In
Size Frontage
79 Ft ,2 In
Size Irregular
79.2 X 55.2 Ft
Size Total Text
79.2 X 55.2 Ft
Zoning Description
N3b Or R4ua
Utilities
Cable
Available
Electricity
Installed
Sewer
Installed
Monthly payment estimate
$
Estimated payment—per month
Mortgage amount
—
Total interest
—
Down payments under 20% typically require mortgage default insurance (CMHC), which is not included in this estimate.
Estimate only — excludes property tax, insurance and condo fees. Rates compound semi-annually as is standard for Canadian mortgages.
Cost of ownership
Est. monthly payment
$3,361/mo
Ontario land transfer tax
$11,655 one-time
Payment assumes 20% down over 25 years. First-time buyers may get up to $4,000 back on land transfer tax.