Realestate

Property Details

1 of 21
$749,850
237 First Avenue, Welland, ON L3C 1Y7
3
2
1
MLS®X13239440
Property Type
Residential Freehold
Sub Type
Detached
Heating
Forced Air
Cooling
Wall Unit(s)
Lot Size
198 x 120 Feet
Approx Age
51-99
PERFECT MINI-DEVELOPMENT POTENTIAL!!! This is a promising development opportunity for investors keen on creating an eight-townhouse site within walking distance of Niagara College. This lot is ideal for either demolishing the existing house to construct eight affordable townhouses or subdividing into three 40-foot frontage lots. With the HST rebate currently available, there is strong demand for land to secure pre-sales. Concept plans suggest the possibility of eight townhouse lots at approximately $100,000 per lot, with an additional $50,000 allocated for consulting and necessary official plan and zoning by-law amendments. Pre-consultations are recommended for any development initiatives, whether for three lots or eight townhouses. A demolition estimate is also available, and tenants are amenable to staying until demolition is required. This is an excellent opportunity for development and land acquisition in a prime student area near Niagara College. Ask agent for any concept plans for townhouse or detached lots.
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