Business For Sale · Land

239A MILAN STREET, Toronto (Moss Park)

239A MILAN STREET, Toronto (Moss Park), ON M4K1B4

$1.8M total

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Asset Class

Land

Size

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Building class

A

Zoning

DC2 — Site Specific

$ / SF

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Occupancy

99%

About this property

PRIZE INFILL SITE - APPROVED RESIDENTIAL DEVELOPMENT LAND - THREE LOT PARCEL FOR SALE: A low risk "prize site" with clear entitlements and execution certainty. Located in the dynamic Moss Park neighbourhood of downtown Toronto. The Subject Site is currently vacant and located between Dundas St. to the north and Shuter St. to the south.THE APPROVAL: Allows the severance and reconfiguration of the two existing through lots into six individual lots, (3-lots fronting Berkeley, 3-lots fronting Milan) each improved with a 4-storey townhouse with integral garage and private driveway. Planning work completed by WND Associates and Craig Race Architecture. SITE METRICS: Two contiguous, generally rectangular through-lots spanning from Berkeley Streetto Milan Street, with a combined total lot area of 3,122 SF approx. for the 3-lot parcel. APPROVED BUILT FORM: Construction of three (3) modern, 4-storey townhouse units featuring integral garages and private driveways.-3 Units fronting Milan Street (239A - 239B - 241 Milan)-Individual Lot Areas: Range from 1,012 to 1,060 sq ft-Unit Sizes: Each approx. 2,000 sq ft GFA-Lot Frontage: 17 ft approx each of 3 lots ZONING COMPLIANCE: Compliant with maximum height provisions 41 ft./4 storeys with structured minor variances in place for parameters such as density, setbacks, and lot dimensions. EXEMPT FROM SITE PLAN CONTROL & PLAN OF SUBDIVISION: Thanks to provincial legislative thresholds exempting residential projects with 10 or fewer units, the development bypasses traditional, time-consuming Site Plan Control, drastically shortening the timeline to building permit issuance.ESTABLISHED NEIGHBOURHOOD CHARACTER: Designed with appropriate massing to seamlessly fit the local context. Three family-sized TH units in a high-demand downtown location with quick and easy access to employment, amenities, parks and extensive public transit options. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.75M
Down payment30% · $525K
Interest rate6.25%
Amortization25 years
Occupancy99%
Expense growth2.5%

Monthly debt service

$8K

Projected NOI

$98K

Annual cash flow

$614

Cash-on-cash

0.12%

DSCR

1.01

Going-in cap

5.58%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

110,812

Households

40,019

Median income

$77,000

Median age

40.9

Daytime population

182,932

5-yr growth

4.8%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 239A MILAN STREET, Toronto (Moss Park).

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.