5 & 7 Foxwarren Drive
Bayview Village Toronto M2K 1L1

$2,299,000 /For Sale
Commercial

Main Photo: 5 & 7 Foxwarren Drive in Toronto: Bayview Village Property for sale (Toronto C15)  : MLS®# C8421362
Photo 1: 5 & 7 Foxwarren Drive in Toronto: Bayview Village Property for sale (Toronto C15)  : MLS®# C8421362
Photo 2: 5 & 7 Foxwarren Drive in Toronto: Bayview Village Property for sale (Toronto C15)  : MLS®# C8421362
Status:
Active
Prop. Type:
Commercial
MLS® Num:
C8421362
Bus Major:
Residential
Prime Redevelopment Opportunity in a Coveted NeighbourhoodPresenting an exceptional opportunity to acquire a substantial parcel of land at 5 & 7 Foxwarren Drive, currently featuring one building with two assigned street numbers. This property is ideal for demolition and redevelopment into a fourplex and a separate garden suite.Potential Redevelopment Plans:Main Building (Fourplex): Can be designed to accommodate four spacious units, each featuring over 2,000 square feet with 3 bedrooms and 4 bathrooms. Includes the option to add an underground garage with a car lift for parking 6 vehicles.Garden Suite: A separate, two-level building with 3 bedrooms, 3 bathrooms, and a rooftop garden, covering approximately 1,100 square feet.Key Features:Large Land Area: The property spans 7,252 square feet, offering ample space for redevelopment.Versatile Design Potential: The existing building is currently furnished and decorated for 16 occupants, suitable for licensed short-term rentals or large families.Prime Location: Only 2.5 minutes walking distance to Bayview Shopping Mall and steps from the Subway Station.Cost Efficiency: No minor variance, committee of adjustment, or development fees required for the five legal units.Convenient Amenities: Proximity to shopping, dining, and public transportation.Immediate Rental Income: The seller will rent back the property for $7,800 per month for one year, providing the perfect timeline for final design, city zoning permits, and building permits. This arrangement offers significant rental income, facilitating easier mortgage acquisition for the buyer.This property offers a rare combination of substantial land area, redevelopment potential, and a prime location. Seize the opportunity to design and build a high-yield investment in a desirable neighbourhood.
Bayview And Sheppard
Property Type:
Commercial
Commercial Type:
Land
Depth:
121'
Frontage:
75'
Total Area:
7,252 sq. ft.
Bathrooms:
3.0
Zoning:
Residential/ Short-Term Rental Licenced
Heating type:
Gas Forced Air Closd
Garage:
Outside/Surface
Total Parking Spaces:
8
Possession Details:
Immediate/TBA
Taxes:
$9,760.92 / 2023
Assessment:
$- / -
Utilities:
Y
Water supply:
Municipal
Sewer:
Sanitary
Seller Property Info Statement:
No
Air Conditioning:
Y
Log/Bldg/Unit Code:
Lot
Type Taxes:
Annual
Category:
Designated
Major Business Type:
Residential
Freestanding:
Yes
Date Listed:
Jun 09, 2024
Original Price:
$2,299,000
  • Photo 1: 5 & 7 Foxwarren Drive in Toronto: Bayview Village Property for sale (Toronto C15)  : MLS®# C8421362
    Photo 1 of 2
  • Photo 2: 5 & 7 Foxwarren Drive in Toronto: Bayview Village Property for sale (Toronto C15)  : MLS®# C8421362
    Photo 2 of 2
Listed by ZEN HOME REALTY
Data was last updated June 19, 2024 at 06:55 AM (UTC)
Shoren Konstantin
Vikram Dhanju