Description
55' x 122' R-CG CORNER LOT WITH REAR LANE ACCESS, LEGAL SECONDARY SUITE, AND STRONG REVENUE POTENTIAL! This property is excluded from the repeal of the city wide rezoning. Prime inner-city redevelopment opportunity in an area experiencing significant revitalization, with numerous multi-unit projects completed and underway on similar-sized parcels. Located just one block from International Avenue and close to shopping, schools, transit, and other amenities, this property offers exceptional future development potential while generating strong rental income today. Previously generating $4,265 per month in rental income (including garage rental and utilities), this is a rare opportunity to secure a redevelopment site with immediate cash flow.This extensively updated property features 5 bedrooms, 2.5 bathrooms, and a LEGAL secondary suite, making it an attractive income-producing asset while future plans are explored.The main floor offers 3 bedrooms and 1.5 bathrooms, including a private primary bedroom with its own ensuite, separated from the additional bedrooms for added privacy. Hardwood flooring, built-in shelving, eight closets, a balcony off the living room, and a spacious bathroom featuring a horseshoe-shaped vanity with abundant storage provide excellent functionality for owners or tenants alike.The lower level features a bright LEGAL 2-bedroom suite with large windows throughout, oversized bedrooms with built-in desks, a full bathroom, and a renovated kitchen complete with a full appliance package, ample counter space, and abundant cabinetry. Shared laundry and additional storage are conveniently located in the common area, while the utility room is protected by a sprinkler system.Outside, the property includes an oversized heated double detached garage, driveway parking for two additional vehicles, a large fenced yard, mature trees, storage shed, and concrete patio.Major updates include windows and patio doors (2017-2022), lower suite kitchen (2018), furn ace and hot water tank (2019), main floor bathroom renovations (2020), lower suite bathroom renovation (2022), garage door (2022), vinyl plank flooring in the lower suite (2017), and more.Whether you're an investor seeking strong cash flow, a developer looking for your next project, or a buyer wanting both income and future upside, this well-maintained property offers exceptional value in a rapidly evolving inner-city location. (id:54406)
