Home of the Future 9 Unit Townhouse Complex - Park Springs Manor!

7543 - 112 Ave - Development Site T5B 0E5 :

Main Photo: Home of the Future 9 Unit Townhouse Complex - Park Springs Manor!banner
$550,000
Prop. Type:
Vacant Lot
MLS® Num:
NEW
Status:
Sold
What a Phenomenal Development Opportunity! This Prime Real Estate is located in Virginia Park directly across from Borden Park.

The Listing consists of 2 lots, each 33 x 120.1 for a total of 7,926 sq.ft. Proposed construction for a 9 unit upper end Townhouse structures, called Park Springs Manor. Each unit is a 1230 sq.ft. 3 Storey Townhouses with 2 Bedrooms plus a Den on three levels. The Fifth level is an outdoor level consisting of a private roof top deck of 400 sq.ft. with a hot tub, privacy walls & a phenomenal view of both the downtown Edmonton skyline & a majestic view of Borden Park across the street. The Main level consists of  the two parking stalls which are situated under each of the units. The total area per unit including parking and the roof top deck is approximately 2,000 sq.ft. of indoor/outdoor private living space. The Units would feature separate utilities. There is no interior common area space. The estimated retail value per unit at $381 sq.ft. would be $469,900. Estimated cost of construction at $190 sq.ft.  for 10070 sq.ft. total would be $2,103.300, leaving the Developer with a handsome profit! One lot has an older vacant 4 plex and 1 lot is bare land. Occupied Residential Dwellings which are occupied by previous Sellers. The four-plex consists of 4 large 1 bdrm units & storage in the basement. The frame & construction is sound however the project requires cosmetic upgrading. The two homes are in good rentable condition. This is an excellent redevelopment area within minutes of Downtown & with new construction of other residential developments, the expansion of Concordia College & the Cromdale Capital Health, all nearby. It is just a few blocks away to Edmontons renowned River Valley Trails, the LRT station, Rexall Place, Commonwealth Stadium & only a half hour walk to downtown Edmonton! Please Do Not Disturb Home Occupants. Architectural Drawings are available for one 9 unit townhouse complex however the Buyer will have to meet with the Architect to amend the drawings to the Buyer's Satisfaction. For Additional Information, Call Val @ 780-707-9395; vtoffoli@shaw.ca  www.valtoffoli.com

 

Price:
$550,000
Property Type:
Vacant Lot
MLS® Num:
new
Status:
Sold
Floor
Type
Dimensions
Other
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View Of Borden Park from Property
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Rendering of 1 of the 2 Proposed 9 Unit Townhouse Structures - #1
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Rendering of 1 of 2 Proposed 9 Unit Townhouse Structures - #2
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E-Map Dimensions -2 lots- 7543-112 Ave
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Existing Four Plex - 7543-112 Ave -Photo #1
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Existing Four Plex - 7543 - 112 Ave - Photo #2
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Listing information last updated on April 27, 2012 at 03:50 PM (UTC)
VAL TOFFOLI
Copyright 2018 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.