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$2,850,000
Status: OFF MARKET
25 & 29 George Street, Aurora - #25 Is 3 Storey Multi-Residential 8 Unit Apartment Building And #29 Is An Adjacent Residential Vacant Single Detached Dwelling With An Approx. Total Lot Size of 126 x 200 Feet (0.53 Acres). The Entire Site Is Proposed For A Zoning By-law Amendment to Permit A Development of 4 Storey Apartment Building With 26 Units in Addition to the Existing 8 Unit, 3 Storey Apartment Building on the Subject Lands, With a Total of 42 Parking Spaces And 34 Residential Units. The Proposed Development Will Consist Of 42,162 SF in Gross Floor Area. The Existing Apartment Building Has 7 - 2 Bedroom Units And 1 - 1 Bedroom Unit. All Units Are Renovated & Updated. Shared Laundry in Basement. All Tenants Are Month to Month Basis. Current Cap Rate Is About 5.1% - Potential to Increase Cap Rate to 7% Based On Average Current Market Rents In the Area. Tenants Pay Their Own Hydro And Landlord Pays For Gas And Water.
| Property Type | :Commercial |
|---|---|
| MLS Number | :N8335366 |
| Listing Type | :Sale |
| Possession Date | : |
| Last Updated | :23 Aug, 2024 (476 Days ago) |
| Source | :TRREB |
| Area | :York |
|---|---|
| Postal Code | : L4G 2S1 |
| Price | : $2,850,000 |
|---|---|
| Property Taxes | :$9221.94 |
| Tax Year | :2023 |
|---|
| Cross Street | :Yonge Street & Wellington Street West |
|---|
| Fireplace/Stove | :No |
|---|
14 May, 2024
TREB #N8335366
Available
$2850000.0
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