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1563 BATHURST STREET, Toronto (Forest Hill South) — listed at $2,890,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
Exceptional development opportunity in prime Forest Hill South. Approved severance and minor variances in place for the creation of four residential lots, each intended for three-storey semi-detached dwellings. Approvals are subject to conditions, including servicing and municipal requirements. Proposed lots offer efficient frontage and density, with approved relief for increased floor space index, reduced setbacks, and enhanced building envelopes.The property is currently fully tenanted, generating approximately $8,000/month in rental income, providing interim holding income during the development and permitting process.Property is being sold as-is with tenants. Buyer to verify all information and conduct their own due diligence regarding development potential and fulfillment of approval conditions. (id:60164)
What's the parking situation?+
This property includes 4 spaces — Attached Garage, Garage.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $10,429.02, heating is natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
Is there air conditioning?+
Yes — central air conditioning cooling is in place.
How is the space laid out across floors?+
This is a 2-storey multi-family. The 8 bedrooms and 4 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
Could this work as an investment property?+
The basement description mentions: Finished, Separate entrance, N/A, N/A. If it has a separate entrance, there may be rental income potential — but verify zoning and whether a legal second unit is permitted in Toronto (Forest Hill South) before counting on it.
How is the home heated? Is it efficient?+
Heating is natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
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