Listings

Residential For Sale

238-240 Berkeley Street, Toronto, On M5a 2x4

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Property Description

Opportunity to acquire a fully approved development site for 6 freehold townhomes, each on separately deeded lots. The site comes with architectural drawings and detailed renderings, offering a turnkey solution for immediate development. Additionally, theres potential for higher density through further approvals, with current zoning already allowing up to 15 dwelling units as-of-right. Each townhome spans approximately 2,000 square feet, with an option to increase to 2,400 square feet by eliminating the garages, offering flexible design and space optimization. –> Cleared Site, eliminating the need for costly and time-consuming demolition –> No tenants to evict and no rental replacement requirements, streamlining the development process –> Development Charge Savings, 4 development credits due to the previous duplexes on-site. Build 6 townhomes while paying development charges for only 2 units. No development charges if the site is converted to three 5-unit multiplexes –> Spacious lot dimensions: 15.58m x 37.18m (511 x 1220) — Vendor Take-Back Mortgage Available –> Zoned and Site Plan Approved, can go straight to building permits –> Additional Potential: Build up to 15 units as-of-right, with support for higher density with additional approvals –> Proximity to Financial District –> Growth area and is seeing substantial development, including new residential, commercial, and mixed-use projects that are transforming the neighbourhood and upcoming Ontario Line TTC Subway Station only a 10-minute walk, Toronto Metropolitan University and the University of Toronto nearby. **EXTRAS** Included: Architectural drawings for 6 freehold townhomes with backyard and garage. 6 lots with individual PINS. Additional density can be achieved. Potential for CMHC funding options. Possible to buy one row of townhouses (3/6 lots).

Basic Details
Property Type:
Residential
Listing Type:
For Sale
Listing ID:
C11931506
Price:
$5,250,000
Status:
Active
Office Name:
KELLER WILLIAMS REFERRED URBAN REALTY
Property Sub Type:
Vacant Land
Features
Interior Features:
None
Sewer:
Sewer
Address Map
Country:
US
State:
ON
County:
Toronto
City:
Toronto C08
Zipcode:
M5A 2X4
Street:
Berkeley
Street Number:
238-240
Street Suffix:
Street
Direction Faces:
West
Financial
Tax Annual Amount:
14488.55
Listing Information
Mls Status:
Deal Fell Through
Modification Timestamp:
2025-04-16T12:48:03Z
Originating System Name:
TRREB
Residential For Sale
Listing ID:
C11931506
$5,250,000
Agent info
Contact Agent