25-29 George ST Active Save Request In-Person Tour Request Virtual Tour
Aurora,ON L4G 2S1
Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID N8335390
Annual Tax Amount $15,286
Tax Year 2023
Property Description
25 & 29 George Street, Aurora - #25 Is 3 Storey Multi-Residential 8 Unit Apartment Building And #29 Is An Adjacent Residential Vacant Single Detached Dwelling With An Approx. Total Lot Size of 126 x 200 Feet (0.53 Acres). The Entire Site Is Proposed For A Zoning By-law Amendment to Permit A Development of 4 Storey Apartment Building With 26 Units in Addition to the Existing 8 Unit, 3 Storey Apartment Building on the Subject Lands, With a Total of 42 Parking Spaces And 34 Residential Units. The Proposed Development Will Consist Of 42,162 SF in Gross Floor Area. The Existing Apartment Building Has 7 - 2 Bedroom Units And 1 - 1 Bedroom Unit. All Units Are Renovated & Updated. Shared Laundry in Basement. All Tenants Are Month to Month Basis. Current Cap Rate Is About 5.1% - Potential to Increase Cap Rate to 7% Based On Average Current Market Rents In the Area. Tenants Pay Their Own Hydro And Landlord Pays For Gas And Water.
Location
Province ON
County York
Community Public Transit,Recreation/Community Centre
Interior
Heating Yes
Cooling Yes
Exterior
Community Features Public Transit,Recreation/Community Centre
Utilities Available Yes
Parking Type Outside/Surface