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487 Bloor St E - 487,489,513,517 Bloor Street E, Oshawa
4.08 Acres of Residential Land Offered at $6,968,146 USD in Oshawa, ON L1H 3M9
Investment Highlights
- Prime 4-acre land in Whitby's growing neighborhood with fast-track city approval for high-density development up to 20 stories.
- Strategic location with easy access to highways, transit, schools, and shopping centers, promising convenience and lifestyle amenities for residents.
- Comprehensive commercial and residential mix with 494 apartment units and essential amenities including daycare, convenience store, and beauty salons.
Executive Summary
We are looking for either at buyer or J.V partner or lender for about $8 Million cash as debt or equity.
On March 2024 the property has been appraised for as is $14,100,000 and as approved for $18,200,000 and as if completed $324,700,000
Planned development includes 494 apartment units across three buildings.
Favorable city planning with pre-submission meeting comments and potential fast-track approval process.
Zone changes application submitted in September 2023, with expected approval by July 2024 for high-density construction of up to 20 stories.
RSC (Record of Site Condition) ready since 2022
Approximate total fees of $670K required for site plan approval, including various studies and design services.
Estimated total investment of $7.8M plus fees, with a 10-12 month holding period for interest.
Land size: 4 Acre land ( 178,131 sqf)
Total GFA: 444,569 SQF (Commercial (Daycare , convenience Store and Beauty Salons)
Units: 494 Apartment
Parking: 2 floors underground
Price: $9.8 Mil ( $30/sqf buildable)
Pre-submission meeting with city comments
Comparable condo sales in the area averaging around $1,000 – $1,050 per sqf
Rental comps averaging $3.8/sqf
Property Facts
1 Lot Available
Lot
| Price | $6,968,146 USD | Lot Size | 4.08 AC |
| Price Per AC | $1,707,879 USD |
| Price | $6,968,146 USD |
| Price Per AC | $1,707,879 USD |
| Lot Size | 4.08 AC |
Here is a Prime sought-after Oshawa location to build a Mixed-use projects (Residential and commercial on main floor including daycare, convenience store, and beauty salons)
Description
Condos Highlights: Located in the heart of Oshawa neighbourhood. Easy access to Highway 412 & 401 5 minute drive from Lakeview Park Beach & Waterfront 8 minute drive to Oshawa GO Station 8 minute commute to Downtown Oshawa 8 minute drive to the Durham College Whitby Campus 9 minute drive to Pickering Town Centre and Oshawa Centre 9 minute drive to the Oshawa Centre 10 minute drive to Ontario Tech University & Durham College Oshawa Campus 20 minute drive to the Whitby Town Square Close to shops, restaurants and schools Many nearby public transportation options Nearby parks Comps sold in the area: The Landing Condos $1,050/sqf https://locatecondo.com/i/the-landing-condos/#price Station No. 3 Condos $1,050/sqf https://locatecondo.com/i/station-no-3-condos/ Harbour Ten10 $1,000/sqf https://locatecondo.com/i/harbour-ten10-condo/ As for rental comps , the going rent rate are: 1BD $2,150 $3.8 /sqf/m 1BD+D $2,280 $4.0 /sqf/m 2BD $2,300 $3.4 /sqf/m
zoning
| Zoning Code | R2/R3-A/R4-A/R6-B (Reside (Designated Residential, fronts major arterial Intensification Area for 300 units/ha. Completed initial consultations, preparing formal applications..) |
| R2/R3-A/R4-A/R6-B (Reside (Designated Residential, fronts major arterial Intensification Area for 300 units/ha. Completed initial consultations, preparing formal applications..) |
-
Maziar Moini -
Home Leader Realty
Presented by
487 Bloor St E - 487,489,513,517 Bloor Street E, Oshawa
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