Toronto C15, ON M2K 1L1,5 & 7 Foxwarren DR
Toronto C15, ON M2K 1L1,5 & 7 Foxwarren DR
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Melissa, Maria & Amanda 3rd Ave Realty Team

Melissa, Maria & Amanda 3rd Ave Realty Team

+1(705) 888-0860
$ 2,299,000
Est. payment | /mo

7,252 SqFt


Save
$ 2,299,000
Est. payment | /mo
Save

7,252 SqFt

Key Details

Property Type Commercial

Sub Type Land

Listing Status Active

Purchase Type For Sale

Square Footage 7,252 sqft

Price per Sqft $317

MLS Listing ID C8421362

Annual Tax Amount $9,760

Tax Year 2023

Property Description

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.

Location

Province ON

County Toronto

Community Bayview Village

Area Toronto

Region Bayview Village

City Region Bayview Village

Interior

Heating Yes

Cooling Yes

Exterior

Garage Spaces 8.0

Utilities Available Yes

Listed by ZEN HOME REALTY

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Melissa, Maria & Amanda 3rd Ave Realty Team

Realtor | License ID: 4769738

+1(705) 888-0860 | info@thirdavenue.ca

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5 & 7 Foxwarren DR