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Toronto C03,ON M6C 3T7
Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
Square Footage 21,098 sqft
Price per Sqft $1,398
MLS Listing ID C9353710
Annual Tax Amount $16,500
Tax Year 2023
Property Description
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.
Location
Province ON
County Toronto
Community Major Highway,Subways
Exterior
Community Features Major Highway,Subways
Utilities Available Available