Sunday, April 19, 2015

Algonquin Student Housing Land

new development land
  • lot size is 100.00W X 85.30D Irreg
  • Legal .... Plan 375 PT LOT 2545 to 2548 Irregular
  • selling for Land Value only
  • taxes are $3300 for 2015
  • Zoning is R2F
- earn $1600 + Utilities  in rental income while you wait for plans. 
- R2F Zoning allows for 2 Singles or four semi

-  facing Ainsley Park

- will be going on MLS next week

- $459,000 ($114,750 per lot)

I believe highest and best use would be to build 2 semis with secondary units in the basement; putting in as many bedrooms as possible and marketing to Algonquin students at $500 per room, per month plus utilities.  These will cash flow well as a long term build and hold or build and sell to investor buyers.

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