487 – 513 Bloor St E, Oshawa

$9,800,000

For Sale: Land in Oshawa, ON

Maziar Moini

ProRealtor

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Listing Details

Description

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); 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: 4.08 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

Location & nearby

This listing is located in Oshawa, ON L1H 3M9

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