$1,150,000

Vacant Land For Sale In East London, London, Ontario

$1,150,000

Property Information:

Prime Development Opportunity: Shovel-Ready Apartment Building Site. This fully approved site is ready for the construction of a 4-storey apartment building featuring 15 residential units (6 two-bedroom/two-bathroom and 9 one-bedroom/one-bathroom)along with a ground-floor commercial space. All architectural, structural, mechanical, and electrical drawings have been completed and submitted for permit issuance. The Zoning By-law Amendment (ZBA) and Site Plan Approval (SPA) processes are fully complete. Upgraded stormwater, sewer, and water services have already been extended to the property line this year. Included in the purchase price are approximately $200,000 in soft costs and $200,000 in hard costs already invested in site preparation, including a $95K deposit with Magest Building Structures. An ""as built"" appraisal valued the property at $5.9M prior to recent interest rate adjustments. Seller will consider VTB. (id:27)

Building Features:

  • Air Conditioning: Yes
  • Heating Type: Other
  • Heating Fuel: Natural gas
  • Cooling Type: Fully air conditioned

Property Features:

  • Property Type: Vacant Land
  • Amenities Nearby: Public Transit
  • Features: Irregular lot size
  • Irregular: Yes
  • Lot Depth: 150.0 Feet
  • Lot Frontage: 78.0 Feet
  • Lot Size: 78 x 150 FT ; Street
  • Zoning: BDC(47)
  • Sewer: Storm sewer

Courtesy of: CENTURY 21 FIRST CANADIAN CORP

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This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association.