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$ 2,600,000
Est. payment | /mo
0.49 Acres Lot
$ 2,600,000
Est. payment | /mo
0.49 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision South E
MLS® Listing ID 40698112
Originating Board Cornerstone - Waterloo Region
Lot Size 0.492 Acres
Acres 21431.52
Property Sub-Type Freehold
Property Description
DEVELOPMENT OPPORTUNITY – PRIME MULTI-RESIDENTIAL SITE! An exceptional investment opportunity in one of London's most sought-after neighborhoods! This half-acre site has been rezoned for an 8-storey, 77-unit apartment building, allowing the next owner to proceed directly to the draft Site Plan Approval (SPA) phase without the challenges of rezoning. The property is currently tenanted, providing immediate cash flow to help offset holding costs during the SPA process. Located near Wortley Village, one of London's most vibrant and desirable communities, this site is highly appealing to future tenants. Its proximity to shops, dining, parks, and transit ensures strong rental demand and long-term growth potential. Additionally, the current zoning permits up to 12 storeys, with the potential to further increase density if underground parking is incorporated (buyer to conduct due diligence). This is a rare, turnkey development opportunity in a prime location. With growing demand for rental housing and limited supply, this project is strategically positioned for strong returns. The seller is willing to partner through a joint venture and is open to exploring flexible financing solutions. Don't miss your chance to capitalize on this incredible investment. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by RE/MAX TWIN CITY REALTY INC. BROKERAGE-2
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