Property Specs:
Price$3,950,000.00
CityLondon, ON
Address798-812 DUNDAS Street
Listing ID40553500
ConstructionBrick, Concrete, Metal, Stucco, Concrete…
StatusFor sale
Extended Features:
Amenities Nearby Public Transit, SchoolsCommunications High Speed InternetCommunity Features High Traffic AreaFeatures Paved driveway, Southern exposure, Visual exposureOwnership FreeholdBasement FullConstruction Materials Concrete block, Concrete WallsFire Protection Security systemFoundation Poured ConcreteUtility Water Municipal water
Details:
Investment opportunity in the heart of East London's bustling commercial district. Positioned east of downtown, this prime redevelopment site offers the potential for high-rise apartment buildings. Boasting close proximity to an array of locally-owned shops, eclectic restaurants, and cultural landmarks, including the iconic Aeolian Hall, London Police Station, and Western Fair District. The proposed site plan, complete with city feedback, outlines the possibility of two 6-storey buildings, reflecting the exciting vision for the development. Current zoning density allows for up to 250 units per hectare, with the opportunity for further density increases through a zoning amendment. Recent changes eliminating parking requirements for new residential developments along Dundas Street streamline the process, enhancing the project's feasibility. Phase 2 environmental assessment completed. Currently leased to two tenants, the property offers immediate rental income, providing a steady cash flow while awaiting redevelopment. Don't miss the chance to shape the skyline of East London and unlock the full potential of this premier redevelopment site. Contact us today to schedule a viewing or discuss further details, and let's turn your vision into reality. (id:4555)