REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,600,000
Est. payment | /mo
$ 2,600,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Subdivision South E
MLS Listing ID X11998236
Style 2-Storey
Annual Tax Amount $8,999
Tax Year 2024
Property Sub-Type Multiplex
Property Description
DEVELOPMENT OPPORTUNITY PRIME MULTI-RESIDENTIAL SITE! An exceptional investment opportunity in one of London's most sought-after neighborhoods! This half-acre site has been rezoned for an 8-storey, 77-unit apartment building, allowing the next owner to proceed directly to the draft Site Plan Approval (SPA) phase without the challenges of rezoning. The property is currently tenanted, providing immediate cash flow to help offset holding costs during the SPA process. Located near Wortley Village, one of London's most vibrant and desirable communities, this site is highly appealing to future tenants. Its proximity to shops, dining, parks, and transit ensures strong rental demand and long-term growth potential. Additionally, the current zoning permits up to 12 storeys, with the potential to further increase density if underground parking is incorporated (buyer to conduct due diligence). This is a rare, turnkey development opportunity in a prime location. With growing demand for rental housing and limited supply, this project is strategically positioned for strong returns. The seller is willing to partner through a joint venture and is open to exploring flexible financing solutions. Don't miss your chance to capitalize on this incredible investment.
Location
Province ON
County Middlesex
Community South E
Area Middlesex
Rooms
Family Room No
Basement Development Potential
Kitchen 0
Interior
Interior Features None
Cooling Central Air
Fireplace No
Heat Source Gas
Exterior
Parking Features Front Yard Parking
Garage Spaces 1.0
Pool None
Roof Type Asphalt Shingle
Lot Frontage 150.0
Lot Depth 143.0
Building
Foundation Poured Concrete
Others
ParcelsYN No
Listed by RE/MAX TWIN CITY REALTY INC.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
7885 Tranmere Dr Unit 1, Mississauga, Ontario, L5S1V8, CAN