Seize this rare opportunity to build a lucrative investment property in the heart of Westboro. Whether you choose to proceed w/ the approved 6-unit building or explore the potential for up to 12 units in it's R4UB zoning, this property offers unparalleled possibilities. The approved architectural plans include 9' ceilings, large sunlit windows, an elevator for convenience, a rooftop space for relaxation, dedicated parking, and a bike/garbage shed in the back. Unit Breakdown: Two luxurious 3-bedroom + den, 2.5-bath units w/ in-unit storage (each 1850 sqft) ideal to live in; One 2-bedroom unit; One 1-bedroom + den unit & Two 1-bedroom units. W/ a strategic unit mix, the projected annual rental income is an impressive $256,800. After a 20% projected expense of $38,520, the expected net NOI is $218,280, reflecting a solid 5.5% cap rate w/ potential for growth. It provides immediate income while you plan for the future. Act today to secure your chance at this prime Westboro investment. (id:47421)
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Detailed Information
Lot
52 x 107 ft
Amenities Nearby
Public Transit, Recreation Nearby, Shopping
Listing Contract Date
2024-03-25
Municipal ID
040200052
Property Type
Vacant Land
Transaction Type
For sale
Zoning Description
Residential
Building
Basement Development
Not Applicable
Basement Type
Unknown (Not Applicable)
Utility Water
Municipal water
Utilities
Type
Description
Fully serviced
Available
Land
Total Size
0.12 acres
Amenities
Public Transit, Recreation Nearby, Shopping
Sewer
Municipal sewage system
Size of Irregular Land
0.12
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