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In-PersonVirtual Tour
$ 899,900
Est. payment | /mo
5 Beds
2 Baths
$ 899,900
Est. payment | /mo
5 Beds
2 Baths
Key Details
Property Type Single Family Home
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 700 - 1100
Subdivision 7302 - Meadowlands/Crestview
MLS® Listing ID X13810390
Style Bungalow
Bedrooms 5
Property Sub-Type Freehold
Property Description
PRICED FOR LAND VALUE - EXCEPTIONAL DEVELOPMENT POTENTIAL! CORNER LOT! (125.46 feet by 77.49 feet). An outstanding opportunity for builders, developers and investors to capitalize on a property offering exciting future possibilities under N2E zoning. The value here is in the LAND and its redevelopment potential. Under the City of Ottawa's new zoning framework, N2 - Neighbourhood Zone 2 provides increased residential development flexibility, permitting a density of up to 1.5 dwelling units per 100 m of lot area, to a maximum of 6 dwelling units per building, subject to lot dimensions, servicing, setbacks and all applicable City requirements. The "E" subzone reflects a more suburban development pattern, including an 18-metre minimum lot width and 6-metre minimum front-yard setback. This creates an exciting opportunity to explore a variety of redevelopment concepts and residential configurations, making this an attractive land acquisition for those looking toward future intensification and long-term value. Buyers are encouraged to complete their own due diligence with the City of Ottawa regarding their intended development plans. The property is currently improved with a detached bungalow that is tenant-occupied, providing existing rental income while a purchaser explores future development opportunities. A property to buy for today, but with an eye firmly on tomorrow - LAND VALUE, INCOME and DEVELOPMENT POTENTIAL all in one! Current rental income is $4295/month and viewing will only be allowed upon acceptance of an offer since being sold for LAND POTENTIAL! (id:24570)
Location
State ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Central air conditioning
Exterior
Parking Features Yes
View Y/N No
Attached Garage No
Total Parking Spaces 6
Garage Yes
Private Pool No
Building
Story 1
Sewer Sanitary sewer
Architectural Style Bungalow
Others
Ownership Freehold
Listed by ROYAL LEPAGE PERFORMANCE REALTY