562 Kingston Rd
The Beaches, Scarborough, M4E 1P9
FOR SALE
$3,500,000
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BEDROOMS4
BATHROOMS4
KITCHENS12
ROOMSE7403294
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Property Description
**Future Mid Rise Development**1-Of-A-Kind Location & Signature/Luxury Projects In Prestigious Downtown Toronto**Rare Development Opportunity in the Downtown Toronto Beaches Area. Site Plan Submitted To City & Under Process For Rezoning for 57 Rental Suites & development potential of 37,8000 SQFT(Please Buyer Verify With City)**TRCA Approved**Back To the Ravine**The existing Fourplex consists of 4 apartment units, including 2 Br, 1 Kitchen & One 3 Pc Washroom, family room, dining room, big storage in basement, one parking in the backyard & 2 balconies Each. Located in the Downtown Toronto Beaches Area, this is a prime redevelopment opportunity for builders. The building is fully tenanted. Elevate Urban Living Experience In Downtown Toronto .Buyer To Do All Due Diligence. All Info Provided & Advertised By Seller & LA To Be Verified By Buyer.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2021-03-02 | 2021-03-10 | 8 | $1,800 | $1,800 | Leased |
| 2020-12-14 | 2021-02-15 | 67 | $2,000 | - | Expired |
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Property Details
Street
Community
City
Property Type
Multiplex, 2-Storey
Lot Size
45' x 150'
Fronting
South
Taxes
$7,922 (2023)
Basement
Finished
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
1
Driveway
Private
Garage Type
None
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Scarborough Market Statistics
Scarborough Price Trend
562 Kingston Rd is a 8-bedroom 4-bathroom home listed for sale at $3,500,000, which is $1,453,250 (71.0%) higher than the average sold price of $2,046,750 in the last 30 days (March 27 - April 25). During the last 30 days the average sold price for a 8 bedroom home in Scarborough increased by $911,750 (80.3%) compared to the previous 30 day period (February 26 - March 26) and down $3,303,250 (61.7%) from the same time one year ago.Inventory Change
There were 7 8-bedroom homes listed in Scarborough over the last 30 days (March 27 - April 25), which is up 40.0% compared with the previous 30 day period (February 26 - March 26) and down 0.0% compared with the same period last year.Sold Price Above/Below Asking ($)
8-bedroom homes in Scarborough typically sold ($62,250) (3.0%) below asking price over the last 30 days (March 27 - April 25), which represents a $43,450 decrease compared to the previous 30 day period (February 26 - March 26) and ($145,000) more 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 8-bedroom homes in Scarborough over the last 30 days (March 27 - April 25) stood at 57.1%, up from 20.0% over the previous 30 days (February 26 - March 26) and up from 14.3% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 8-bedroom 4-bathroom home in Scarborough stood at 61 days when successfully sold over the last 30 days (March 27 - April 25), compared to 43 days before being removed from the market upon being suspended or terminated.Listing contracted with Soltanian Real Estate Inc.
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