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$2,500,000
Status: For Sale
Attention Builders, Developers, and Investors! This prime development site in Oshawa is zoned R3-A/R5-B (Residential, allowing for the construction of a 25-unit apartment building. Situated in a neighborhood with high rental rates and no rent control on new constructions, this location offers a lucrative opportunity for long-term investment. The property is surrounded by multi-residential apartments, ensuring strong demand for new units. Current rental income of $5,500 per month helps to mitigate carrying costs while the project progresses through the approval stages. The City of Oshawa is already aware of the project, facilitating a smoother approval process. Take advantage of this exceptional opportunity to secure substantial returns on your investment.
| Property Type | :Residential |
|---|---|
| MLS Number | :E9258458 |
| Listing Type | :Sale |
| Possession Date | : |
| Last Updated | :02 Sep, 2024 (32 Days ago) |
| Source | :TRREB |
| Area | :Durham |
|---|---|
| Postal Code | : L1H 3T3 |
| Price | : $2,500,000 |
|---|---|
| Property Taxes | :$5036.91 |
| Tax Year | :2023 |
|---|
| Bedrooms | :3 + 2 |
|---|---|
| No. of Rooms | :14 |
| Air Conditioning | :Central Air |
| Heating | :Forced Air |
| Place of Worship | :No |
| Cross Street | :Simcoe St. S. & Whiting |
| Bathrooms | :4 |
|---|---|
| Fuel | :Gas |
| Fireplace/Stove | :Yes |
| Living | :4.50 m x 6.10 m |
|---|---|
| Kitchen | :5.40 m x 2.50 m |
| Br | :3.67 m x 2.44 m |
| Living | :2.40 m x 6.40 m |
| Br | :3.67 m x 2.44 m |
| Kitchen | :5.40 m x 2.40 m |
| Dining | :3.25 m x 3.10 m |
|---|---|
| Br | :3.70 m x 3.50 m |
| Br | :3.34 m x 2.00 m |
| Kitchen | :2.60 m x 2.90 m |
| Living | :4.50 m x 6.10 m |
| Br | :2.30 m x 2.70 m |
| Exterior Finish | :Alum Siding |
|---|---|
| Parking Space | :4 |
| Basement | :Apartment |
| Lot Features | :Wooded/Treed |
|---|---|
| Garage | :None |
| Laundry Level | :Lower |
16 Aug, 2024
TREB #E9258458
Listed
$2500000.0
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