464-468 Winona Dr
Toronto, M6C3T7
For Sale
$29,500,000
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Designated
CATEGORY21,098 Sq Ft
TOTAL AREAC9353710
MLSIDContact Us
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.
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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.
Property Details
Category
Designated
Usage
Residential
Zoning
Rm
Total Area
21,098 Sq Ft
Lot Size
71' x 304'
Taxes
$16,500 (2023)
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Listing contracted with Soltanian Real Estate Inc.
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