Added 6 months ago
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Type: Land
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Property Type: Commercial
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Business Type: Residential
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Zoning: Residential/ Sho
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Age: No Data
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Taxes: 9760.92
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MLS®#: C8421362
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Added: Jun 09, 2024 (6 months ago)
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Updated:
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Last Checked: 1 hour ago
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Listed By: ZEN HOME REALTY
Prime Redevelopment Opportunity in a Coveted NeighbourhoodPresenting an exceptional opportunity to acquire a substantial parcel of land at 5 & 7 Foxwarren Drive, currently featuring one building with two assigned street numbers. This property is ideal for demolition and redevelopment into a fourplex and a separate garden suite.Potential Redevelopment Plans:Main Building (Fourplex): Can be designed to accommodate four spacious units, each featuring over 2,000 square feet with 3 bedrooms and 4 bathrooms. Includes the option to add an underground garage with a car lift for parking 6 vehicles.Garden Suite: A separate, two-level building with 3 bedrooms, 3 bathrooms, and a rooftop garden, covering approximately 1,100 square feet.Key Features:Large Land Area: The property spans 7,252 square feet, offering ample space for redevelopment.Versatile Design Potential: The existing building is currently furnished and decorated for 16 occupants, suitable for licensed short-term rentals or large families.Prime Location: Only 2.5 minutes walking distance to Bayview Shopping Mall and steps from the Subway Station.Cost Efficiency: No minor variance, committee of adjustment, or development fees required for the five legal units.Convenient Amenities: Proximity to shopping, dining, and public transportation.Immediate Rental Income: The seller will rent back the property for $7,800 per month for one year, providing the perfect timeline for final design, city zoning permits, and building permits. This arrangement offers significant rental income, facilitating easier mortgage acquisition for the buyer.This property offers a rare combination of substantial land area, redevelopment potential, and a prime location. Seize the opportunity to design and build a high-yield investment in a desirable neighbourhood.
Extras
This property is being sold for lot value only and Performa value. No interior showings will be available. A link to a YouTube video showcasing the house is provided.
Property
Status: Sale
Type: Residential
Property Type: Land
Property Type: Designated
Area: Toronto
Community: Bayview Village
Availability Date: Immediate/TBA
Inside
Bathrooms: 3
Air Conditioning: Y
Washrooms: 3
Utilities
Utilities: Yes
Building
Heat Type: Gas Forced Air Closd
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: Outside/Surface
Covered Parking Spaces: 8
Fees
Tax Year: 2023
Tax Legal Description: Lot 198 Plan 4847 North York
Taxes: $9,761
Taxes Type: Annual
Land
Cross Street: Bayview And Sheppard
Municipality District: Toronto C15
Sewer: Sanitary
Lot Depth: 121 Feet
Lot Frontage: 75 Feet
Zoning: Residential/ Sho
Commercial Specific
Total Area: 7252
Total Area Metric: Sq Ft
Lot Code: Lot
Avondale Alternative Elementary School
Elementary: PublicSt Gabriel Catholic Catholic School
Elementary: CatholicFinch Public School
Elementary: PublicHollywood Public School
Elementary: PublicElkhorn Public School
Elementary: PublicBayview Middle School
Elementary: PublicSt Andrew's Junior High School
Secondary: PublicWindfields Junior High School
Secondary: PublicÉcole secondaire Étienne-Brûlé
Secondary: PublicCardinal Carter Academy for the Arts
Secondary: CatholicYork Mills Collegiate Institute
Secondary: PublicEarl Haig Secondary School
Secondary: Public
