Business For Sale · Land

238A BERKELEY STREET, Toronto (Moss Park)

238A BERKELEY STREET, Toronto (Moss Park), ON M5A4C3

$1.8M total

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Asset Class

Land

Size

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Building class

A

Zoning

UR — Urban Reserve

$ / SF

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Occupancy

89%

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 Street to 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 Berkeley Street (238A - 238B - 240 Berkeley)-Individual Lot Areas: Range from 1,017 to 1,072 sq ft-Unit Sizes: Range from 1,895 to 2,007 sq ft GFA approx.-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 to mirror successful, recent neighbourhood precedents. 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. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.75M
Down payment30% · $525K
Interest rate6.25%
Amortization25 years
Occupancy89%
Expense growth2.5%

Monthly debt service

$8K

Projected NOI

$86K

Annual cash flow

$-11K

Cash-on-cash

-2.14%

DSCR

0.88

Going-in cap

4.90%

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

105,575

Households

49,059

Median income

$95,500

Median age

45.1

Daytime population

149,914

5-yr growth

0.8%

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

Secure deal room

Confidential diligence documents for 238A BERKELEY 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.