Added 3 weeks ago
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Type: Investment
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Property Type: Commercial
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Business Type: Apts-6 To 12 Units
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Zoning: R3
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Age: No Data
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Taxes: 11675
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MLS®#: X9770327
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Days on Site: 4 Days
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Added: Oct 27, 2024 (3 weeks ago)
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Updated:
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Last Checked: 5 hours ago
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Listed By: KELLER WILLIAMS LIFESTYLES
Discover an unparalleled investment opportunity at 64 High St West, located in the vibrant heart of Strathroy, Ontario. This prime property offers a rare chance for investors, builders, and developers to capitalize on an incredible development project. The draft plans, currently under review, outline a new 24-unit apartment building. The proposed design includes 8 one-bedroom and 16 two-bedroom units, addressing the growing demand for diverse housing options in the area. Strategically situated in a thriving community, this property benefits from proximity to essential amenities, transportation links, and local services, enhancing its appeal for future residents. The review process for the draft plans is progressing smoothly, and a minor variance application is underway, with optimistic expectations for approval with positive feedback from the municipal level. The existing 7-plex has a great tenant profile, offering 7 units consisting of 1 Bachelor, 3 1 Bed Units, 1 1 Bed + Den, 1 2 Bedroom and 1 3 Bedroom + Den. Seize this unique opportunity to make a substantial impact in Strathroy's development landscape or buy and hold this great property as it stands and benefit from some serious upside.
Property
Status: Sale
Type: Apts-6 To 12 Units
Property Type: Investment
Property Type: Apartment
Area: Strathroy-Caradoc
Community: SW
Availability Date: Flexible
Inside
Bathrooms: 1
Air Conditioning: N
Washrooms: 1
Utilities
Utilities: Yes
Building
Heat Type: Gas Hot Water
Energy Certificate: N
Green Verification Status: N
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: None
Covered Parking Spaces: 10
Fees
Tax Year: 2023
Tax Legal Description: LTS 148 & 149 & ELY 30 FT OF LT 150, 34PL224; MUNICIPALITY OF ST
Taxes: $11,675
Expenses: Est
Insurance Fee: 7494
Other Expenses: 11808
Taxes Type: Annual
Taxes: 11675
Tax Year: 2023
Land
Cross Street: Princess & High St W
Municipality District: Strathroy-Caradoc
Parcel Number: 096080027
Lot Depth: 130 Feet
Lot Frontage: 130 Feet
Zoning: R3
Commercial Specific
Total Area: 17125
Total Area Metric: Sq Ft
Lot Code: Building
Gross Income/Sales: 97320
Caradoc North School
Elementary: PublicSt Vincent de Paul Separate School
Elementary: CatholicJ. S. Buchanan French Immersion Public School
Elementary: PublicOur Lady Immaculate School
Elementary: CatholicNorth Meadows Elementary School
Elementary: PublicMary Wright Public School
Elementary: PublicNorth Middlesex District High School
Secondary: PublicGlencoe District High School
Secondary: PublicHoly Cross Catholic Secondary School
Secondary: CatholicSt. Andre Bessette Secondary School
Secondary: CatholicSt Thomas Aquinas Secondary School
Secondary: CatholicStrathroy District Collegiate Institute
Secondary: Public
