Endless possibilities for this multi-unit apartment building with new TOC 1 Zoning located in high-demand area across from McMaster University and Childrens Hospital. Potential to expand the building footprint, with allowable height of 72 feet, and 127 foot frontage. Adjacent TOC 1 property with 60 ft frontage available. Permitted uses include Commercial applications with possible reduced setback requirements. Current use--Legal 7 unit, brick & concrete 3 storey apartment building with 129 K gross rents. Recent improvements to 4 apts with the prospect of increasing revenue to market rents within 12-16 mos (155K+). All units have individual electrical breaker panels, separately metered with digitally controlled electric heattenants pay heat & hydro. Parking for 7 vehicles or more. Roof-2 layer Torch Down (2006); Thermo Windows (2006); 2 Rheem 60 gal. gas direct vent water heaters (2019); hard wired smoke detectors in stairwells; common paid laundry room facilities. (id:5764)
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