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$24,990,000
Status: OFF MARKET
The Location is ideal for the Proposed Development of a 200-unit, Eleven-story Rental Apartment Building, currently in the planning phase. This optimal utilization of the land is now absolutely supported by Toronto's municipal policies that focus on increasing Rental Housing availability to address the current housing crisis.Hence the previously approved townhouse project is no longer the Highest and Best Use of the land. The Land has been recently Appraised at $25,100,000 in as-is condition, mirroring its value with respect to the Proposed Development. According to the Appraisal Report, the completed building can generate over $5,000,000 Rental Income per year.
| Property Type | :Commercial |
|---|---|
| MLS Number | :C7401202 |
| Listing Type | :Sale |
| Possession Date | : |
| Last Updated | :16 Jul, 2024 (250 Days ago) |
| Source | :TRREB |
| Area | :Toronto |
|---|---|
| Postal Code | :
M6C 3T7
|
| Price | : $24,990,000 |
|---|---|
| Property Taxes | :$16868.19 |
| Tax Year | :2023 |
|---|
| Cross Street | :St. Clair and Winona |
|---|
| Fireplace/Stove | :No |
|---|
16 Jul, 2024
TREB #C7401202
Available
$24,990,000
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$24,990,000
464-468 Winona Dr, Toronto, Ontario
Listing ID #C7401202
Price drop by $110,000