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$ 24,800,000
Est. payment /mo
Active
464-468 Winona DR Toronto C03, ON M6C 3T7
21,098 SqFt
UPDATED:
02/01/2025 06:11 PM
Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
Square Footage 21,098 sqft
Price per Sqft $1,175
Subdivision Oakwood Village
MLS Listing ID C11934192
Annual Tax Amount $16,500
Tax Year 2024
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 project is perfectly aligned with the Multi-Unit CMHC approval process, offering an exceptional opportunity to secure the maximum 100 points in the MLI Select program. It's a once-in-a-lifetime chance to own a rental, retirement, or student housing property in the heart of Toronto's Midtown one of the city's hottest rental markets. A prime opportunity that forward-thinking developers are actively pursuing in Toronto's core neighborhoods NOW.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 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 , mirroring its value with respect to a rental building . According to the Appraisal Report, the completed building will generate over $5,500,000 Rental Income per year. The owner developer is willing to acquire the Site Plan Approval if the Buyer asks for it with an agreeable extra cost. Listing brokerage & Seller make no representation and/or warranties with respect to the Property Tax, Approvals etc. Buyer must conduct own Due Diligence to verify all information.
Location
Province ON
County Toronto
Community Oakwood Village
Area Toronto
Exterior
Community Features Major Highway, Subways
Utilities Available Available
Lot Frontage 71.0
Lot Depth 303.5
Listed by SOLTANIAN REAL ESTATE INC.
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