25-29 George St, Aurora, Ontario L4G 2S1

$5,038,000
List Price
$5,038,000
MLS#
N8335396
Status
A
Type
Land
SubType
Vacant Land
Province
Ontario
Municipality
Aurora
Area
York
Neighborhood
Aurora Village
Subdivision
Yonge Street & Wellington Street West

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.

Additional Information

Taxes
$15,286
Water
Municipal
Gas
Y
Extras
Close Proximity To Aurora Go Train Station, Hwy 404, Yonge Street, Shops, Retail Plazas, Entertainment & All Public Amenities. The Two Properties 25 & 29 George Street Must Be Sold Together.
Lot Frontage
126
Legal Description
PT LT 27 PL 246 AURORA AS IN R522366 ; AURORA And PT LT 27 PL 246, PART 1, PLAN 65R37844 TOWN OF AURORA
Zoning
RA1, (151) And RA1, (449)

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of ROYAL LEPAGE YOUR COMMUNITY REALTY.