Discover an unparalleled investment opportunity at 64 High St West, located in the vibrant heart of Strathroy, Ontario. This prime property offers a rare chance for investors, builders, and developers to capitalize on an incredible development project. The draft plans, currently under review, outline a new 24-unit apartment building. The proposed design includes 8 one-bedroom and 16 two-bedroom units, addressing the growing demand for diverse housing options in the area. Strategically situated in a thriving community, this property benefits from proximity to essential amenities, transportation links, and local services, enhancing its appeal for future residents. The review process for the draft plans is progressing smoothly, and a minor variance application is underway, with optimistic expectations for approval with positive feedback from the municipal level. The existing 7-plex has a great tenant profile, offering 7 units consisting of 1 Bachelor, 3 1 Bed Units, 1 1 Bed + Den, 1 2 Bedroom and 1 3 Bedroom + Den. Seize this unique opportunity to make a substantial impact in Strathroy's development landscape or buy and hold this great property as it stands and benefit from some serious upside. (id:47421)
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Detailed Information
Bathrooms
7
Lot
130 x 130 ft
Listing Contract Date
2024-09-16
Location Description
Princess & High St W
# of Parking Spaces
10
Property Type
Multi-family
Transaction Type
For sale
Zoning Description
R3
Building
Basement Type
Partial
Exterior Finish
Vinyl siding, Brick
Fireplace Present
Yes
Foundation Type
Brick, Concrete
Heating Type
Other
Stories Total
2
Type
Other
Utility Water
Municipal water
Land
Total Size
130 x 130 FT
Sewer
Sanitary sewer
Size of Irregular Land
130 x 130 FT
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