48 SIXTEENTH STREET, Toronto (New Toronto)

$1,499,999

For sale: Detached

Property type

Detached

Bedrooms / bathrooms

4 bedrooms, 2 bathrooms

Living area

1,100 sqft

MLS®

MLS® W13682280

Neighbourhood

New Toronto

A rare 50 x 100 ft parcel in South Etobicoke, approved by the Committee of Adjustment to sever into two building lots, with a solid, income-producing bungalow already on the property. Owner occupied - no tenants. The opportunity is what makes this property so unique. Minor variance approvals are in place for two single-family detached homes, each with an attached garage and rear deck. Each lot is approved for a 1,902 sq ft home - 3,804 sq ft total above grade, plus finished basements and attached garages. The approved 0.78 FSI provides approximately 30% more house than the 0.60 base zoning allowance on each lot. The approved homes feature 3 bedrooms + 1 bedroom in the lower level (3+1) and 3.5 bathrooms. The second floor includes a primary bedroom with walk-in closet and ensuite, plus two additional bedrooms sharing a 4-piece bathroom. The main floor includes a powder room, while the lower level provides a fourth bedroom with a guest bathroom. A complete pre-development package is included, meaning much of the hard work is already done. The package includes issued-for-permit architectural drawings, structural engineering, HVAC design, survey, R-Plan, arborist report and tree permit, Stage 1-2 archaeological assessment, and 3D photorealistic renderings. Just minutes' walk to the lake and steps to Humber College, the waterfront and bike trails, with easy access to public transit and the Gardiner. Live in the existing bungalow, generate income, or build two new homes - the approvals and pre-development work are already in place. **Rendering Drawings to show example, some photos are virtually staged **