237 First Avenue

237 First Avenue in Welland - 3 bedroom, 2 bathroom. Listed at $749,850.

PERFECT MINI-DEVELOPMENT POTENTIAL!!! This is a promising development opportunity for investors keen on creating an eight-townhouse site within walking distance of Niagara College. This lot is ideal for either demolishing the existing house to construct eight affordable townhouses or subdividing into three 40-foot frontage lots. With the HST rebate currently available, there is strong demand for land to secure pre-sales. Concept plans suggest the possibility of eight townhouse lots at approximately $100,000 per lot, with an additional $50,000 allocated for consulting and necessary official plan and zoning by-law amendments. Pre-consultations are recommended for any development initiatives, whether for three lots or eight townhouses. A demolition estimate is also available, and tenants are amenable to staying until demolition is required. This is an excellent opportunity for development and land acquisition in a prime student area near Niagara College. Concept plans for townhouse or detached lots available.

Property Details

Property Type: Mortgage
Style: 1 1/2 Storey
Square Footage: 1300 sqft
Basement: Full
Heating: Gas
Cooling: Wall Unit(s)
Parking: 6 spaces
Property Taxes: $3,689/yr
Neighbourhood: 767 - N. Welland
Postal Code: L3C 1Y7

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