344 Edgehill Dr – Purpose Built Duplex – Need to Sell
December 31, 2024
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 highly supported by Toronto's municipal policies that focus on increasing Rental Housing availability to address the current housing crisis in midtown 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 in 2023, mirroring its value with respect to the Proposed Development. According to the Appraisal Report, the completed building will generate over $5,500,000 Rental Income per year. **** 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. (id:46421)
| Business Type | Residential |
| Business Sub Type | Residential |
| MLS® Number | C9353710 |
| Property Type | Vacant Land |
| Community Name | Oakwood Village |
| Amenities Near By | Highway |
| Size Interior | 21,098 Ft2 |
| Utility Water | Municipal Water |
| Acreage | No |
| Land Amenities | Highway |
| Size Depth | 303 Ft ,6 In |
| Size Frontage | 71 Ft |
| Size Irregular | 71 X 303.5 Ft |
| Size Total Text | 71 X 303.5 Ft |
| Zoning Description | Rm |
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I provide real estate services to those seeking to buy or sell real estate in Simcoe County, including Barrie, Orillia, Innisfil, Essa, Springwater, Oro-Medonte, Midland.
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