Attention investors, builders and savvy parents! 269 Albert St. is one of the last sizeable lots with great frontage in this area that is developable on its own, with no land assembly required. Undeveloped parcels near the universities are few and far between, and most of what remains has already been bought up by developers for their own future projects.
The value here is in the land, and the price is very attractive compared to recent sales of similar-size properties with comparable location and zoning. In the meantime, the existing 4-bedroom house works hard for you: rent it out and collect income until you're ready to redevelop, or buy it for your son or daughter and their friends while they're at school.
Hold, rent, and watch your investment appreciate as development properties in this area become scarcer and harder to obtain. Opportunities with this proximity to the Universities are becoming fewer and more desirable as time goes by. (Supply and Demand).
In Northdale, a residential development requires a minimum lot frontage of 65.6 feet (20 metres). Most Northdale lots have about 50 feet of frontage, which falls short of that requirement. That's what makes this lot so rare.
With 80 feet of frontage, it's a true anomaly in the neighbourhood.
