$5,250,000
238 Berkeley ST Toronto C08, ON M5A 2X4
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$5,250,000
Est. payment /mo
6,173 SqFt
Active
238 Berkeley ST Toronto C08, ON M5A 2X4
UPDATED:
10/25/2024 02:30 PM
Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
Square Footage 6,173 sqft
Price per Sqft $850
MLS Listing ID C9510235
Annual Tax Amount $14,488
Tax Year 2024
Property Description
Opportunity to acquire a fully approved development site for 6 freehold townhomes, each on separately deeded lots. The site comes with architectural drawings and detailed renderings, offering a turnkey solution for immediate development. Additionally, theres potential for higher density through further approvals, with current zoning already allowing up to 15 dwelling units as-of-right. Each townhome spans approximately 2,000 square feet, with an option to increase to 2,400 square feet by eliminating the garages, offering flexible design and space optimization. *** Cleared Site, eliminating the need for costly and time-consuming demolition. *** No tenants to evict and no rental replacement requirements, streamlining the development process. *** Development Charge Savings, 4 development credits due to the previous duplexes on-site. Build 6 townhomes while paying development charges for only 2 units. No development charges if the site is converted to three 5-unit multiplexes. *** Spacious lot dimensions: 15.58m x 37.18m (511 x 1220). *** Vendor Take-Back Mortgage Available. *** Zoned and Site Plan Approved, can go straight to building permits. *** Additional Potential: Build up to 15 units as-of-right, with support for higher density with additional approvals. *** Proximity to Financial District *** Growth area and is seeing substantial development, including new residential, commercial, and mixed-use projects that are transforming the neighbourhood and upcoming Ontario Line TTC Subway Station only a 10-minute walk, Toronto Metropolitan University and the University of Toronto nearby. ***
Location
Province ON
County Toronto
Community Public Transit, Subways
Area Moss Park
Exterior
Community Features Public Transit, Subways
Utilities Available Available
Listed by KELLER WILLIAMS REFERRED URBAN REALTY