238-240 Berkeley Street For Sale

Toronto, Moss Park, M5A 2X4

$5,250,000

Description

Listed by KELLER WILLIAMS REFERRED URBAN REALTY.

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.

Included: Architectural drawings for 6 freehold townhomes with backyard and garage. 6 lots with individual PINS. Additional density can be achieved. Potential for CMHC funding options. Possible to buy one row of townhouses (3/6 lots).

Location

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  • Address: 238-240 Berkeley Street
  • Neighborhood: Moss Park
  • City: Toronto
  • State: Ontario
  • Postal Code: M5A 2X4

Property Details

  • Property ID: C11931506
  • Property Price: $5,250,000
  • Style: Vacant Land
  • Central Vac.: N
  • Taxes: $14,488.55 (2024)
  • Acreage: < .50 Acres
  • Lot: 120.25x51.34 (Feet)

Property History

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  • Contact Manoj Kukreja

    Sales Representative, Re/max Premier Inc., Brokerage
    (647) 576 - 2100