[jmi22]

mhmm 10 units and asking price of $1,490,000

site is sellling at $149,000/unit

a bit steep for the area...

$1,490,000 / 16,042 sq ft (GFA) = works out around $92 per buildable!

To be honest, still feels a bit steep for the area. With today's construction costs and only 10 units, feasibility looks pretty tight. I'd be more interested closer to the $70-80/buildable SF range.

Yea, no parking on-site, no nearby transit station, no college/uni in the immediate area, tough sell for every category of potential residents.

Even once St. Clair-Old Weston GO opens, the current transit configuration means you have a 20 minute walk to reach the station. Unless a Milton Line infill station magically manifests at Runnymede or Jane, this site will be a tough sell for years to come.

 

[Tormick]

mhmm 10 units and asking price of $1,490,000

site is sellling at $149,000/unit

a bit steep for the area...

$1,490,000 / 16,042 sq ft (GFA) = works out around $92 per buildable!

To be honest, still feels a bit steep for the area. With today's construction costs and only 10 units, feasibility looks pretty tight. I'd be more interested closer to the $70-80/buildable SF range.

Also still an empty parking lot, so you're also not buying any incumbent income.

 

[jmi22]

Parking is surely bringing in some income no?

 

[Tormick]

Parking is surely bringing in some income no?

Sorry you're right, just looked at Google Maps and it looks like it has a couple cars. Just not the holding income of a retail unit or a GreenP.