290 Sheppard Ave W
Lansing-Westgate, North York, M2N 1N5
FOR SALE
$2,888,000
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Property Description
Don't miss this incredible investment opportunity in the prime North York area! This rarely offered property on Sheppard Ave West, just a few blocks west of the vibrant Yonge & Sheppard corridor, presents a multitude of possibilities for both end users and investors. For those looking to embark on a redevelopment project, this property holds immense potential. With the possibility of constructing a stand-alone office building up to 6 stories, you can capitalize on the thriving local market. Additionally, the current building can be renovated to accommodate various uses, providing flexibility to suit your specific needs.The City of Toronto has recently introduced a new secondary plan for this area, highlighting its promising future and further emphasizing the significance of this investment opportunity. For investors seeking immediate returns, this property holds significant income-generating potential. With the ability to produce an estimated rental income of $6,000 to $8,000 per month
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2023-06-16 | 2023-12-31 | 198 | $2,688,888 | - | Expired |
Extras
**Zoning Amendment Application Has Been APPROVED For Application Proposes To Develop A 6 Storey Hotel Containing 38 rooms with 6 Surface Parking Spaces At 290 Sheppard Avenue West.**
Nearby Intersections
Property Features
Fenced Yard, Park, Place Of Worship, Public Transit
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Property Details
Street
Community
City
Property Type
Detached, Backsplit 3
Lot Size
50' x 125'
Fronting
North
Taxes
$25,559 (2023)
Basement
Finished, Full
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
6
Driveway
Private
Garage Type
Detached
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North York Market Statistics
North York Price Trend
290 Sheppard Ave W is a 4-bedroom 3-bathroom home listed for sale at $2,888,000, which is $836,481 (40.8%) higher than the average sold price of $2,051,519 in the last 30 days (March 27 - April 25). During the last 30 days the average sold price for a 4 bedroom home in North York declined by $7,154 (0.3%) compared to the previous 30 day period (February 26 - March 26) and up $4,880 (0.2%) from the same time one year ago.Inventory Change
There were 567 4-bedroom homes listed in North York over the last 30 days (March 27 - April 25), which is up 16.7% compared with the previous 30 day period (February 26 - March 26) and up 5.0% compared with the same period last year.Sold Price Above/Below Asking ($)
4-bedroom homes in North York typically sold $22,091 (1.1%) above asking price over the last 30 days (March 27 - April 25), which represents a $8,227 increase compared to the previous 30 day period (February 26 - March 26) and $33,945 less than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 4-bedroom homes in North York over the last 30 days (March 27 - April 25) stood at 55.2%, up from 51.4% over the previous 30 days (February 26 - March 26) and down from 58.3% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 4-bedroom 3-bathroom home in North York stood at 16 days when successfully sold over the last 30 days (March 27 - April 25), compared to 46 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Realtron Realty Inc.
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