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29 George St

George St, Aurora, Aurora, ON, L4G 2S1

4
Beds
2
Baths
$2,188,000
List Price
Details
Photos
11
Comparables
History
29 George St, Aurora, ON - 1 of 3
29 George St, Aurora, ON - 2 of 3
29 George St, Aurora, ON - 3 of 3
32 days on market

Quick Summary

  • Expansive 0.53-acre lot with development potential
  • Existing 8-unit, 3-story apartment building
  • Proposed 4-story apartment building with 26 units
  • Convenient location near Aurora GO station and Hwy 404
  • Renovated and updated 2-bedroom and 1-bedroom units
  • Shared laundry facilities in basement
  • Current cap rate of 5.1% with potential to increase to 7%
  • Tenants pay own hydro, landlord pays gas and water

25 & 29 George Street, Aurora - #25 Is 3 Storey Multi-Residential 8 Unit Apartment Building And #29 Is An Adjacent Residential Vacant Single Detached Dwelling With An Approx. Total Lot Size of 126 x 200 Feet (0.53 Acres). The Entire Site Is Proposed For A Zoning By-law Amendment to Permit A Development of 4 Storey Apartment Building With... Show More

25 & 29 George Street, Aurora - #25 Is 3 Storey Multi-Residential 8 Unit Apartment Building And #29 Is An Adjacent Residential Vacant Single Detached Dwelling With An Approx. Total Lot Size of 126 x 200 Feet (0.53 Acres). The Entire Site Is Proposed For A Zoning By-law Amendment to Permit A Development of 4 Storey Apartment Building With 26 Units in Addition to the Existing 8 Unit, 3 Storey Apartment Building on the Subject Lands, With a Total of 42 Parking Spaces And 34 Residential Units. The Proposed Development Will Consist Of 42,162 SF in Gross Floor Area. The Existing Apartment Building Has 7 - 2 Bedroom Units And 1 - 1 Bedroom Unit. All Units Are Renovated & Updated. Shared Laundry in Basement. All Tenants Are Month to Month Basis. Current Cap Rate Is About 5.1% - Potential to Increase Cap Rate to 7% Based On Average Current Market Rents In the Area. Tenants Pay Their Own Hydro And Landlord Pays For Gas And Water. Close Proximity To Aurora Go Train Station, Hwy 404, Yonge Street, Shops, Retail Plazas, Entertainment & All Public Amenities. The Two Properties 25 & 29 George Street Must Be Sold Together.

Property Details

Size

Sq. Ft. Not Available
7 total rooms
4 Beds
3 Above Grade - 1 Below Grade
2 Baths

Parking

6 Parking Spaces
None

Build

Year Built
-
Model Name
-
Basement
Part Fin, Sep Entrance
Exterior
Brick
Foundation
-
Builder Name
-
Stories
-
Flooring
Hardwood Floor
Roof
-

Heating & Cooling

Heating
Forced Air
Cooling
None

Utilities

Water
-
Sewer
Sewers
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Rooms

Living

12′9″ x 17′10″

Dining

11′4″ x 13′3″

Kitchen

11′3″ x 13′4″

Prim Bdrm

11′6″ x 13′9″

Br

11′5″ x 11′8″

Br

10′11″ x 11′6″

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Ownership Details

Ownership

Title
Freehold
Zoning
-

Taxes

Property Tax Year
2023-01-01
Property Tax Amount
$6,064.94

Source

Listing Brokerage

MLS® Listing
N8335382
Last Updated
May 14, 2024
Brokerage
ROYAL LEPAGE YOUR COMMUNITY REALTY
Call us 800-591-0566

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