47 Ranleigh Avenue

Introducing a remarkable opportunity to acquire a Multi-Family Home for sale in Toronto , located at 47 Ranleigh Avenue, Toronto. This impressive property boasts a substantial lot measuring 34 feet by 191 feet, providing ample space for a variety of potential uses. Situated in the desirable Lawrence Park North community, this multiplex building is perfectly positioned just steps away from the bustling intersection of Yonge and Lawrence, making it an ideal choice for those seeking both convenience and potential.

This Multi-Family Home for sale in Toronto features an extensive layout with a total of 18 rooms, including 12 generously sized bedrooms and 3 bathrooms. The property is equipped with three kitchens, allowing for the versatility that a multi-family dwelling demands. While there is no den or additional rooms, the existing configuration is conducive to accommodating multiple families or individuals, making it a prime investment opportunity.

The exterior of the building is constructed from durable brick, ensuring both aesthetic appeal and longevity. Though the property does not feature a swimming pool or a fireplace, it compensates with a private driveway that provides parking for up to 7 vehicles, alongside a detached garage with space for 3 cars. This is particularly advantageous in the bustling city of Toronto, where parking can often be a challenge.

For those considering the investment potential of this Multi-Family Home for sale in Toronto, it is noteworthy that the property is being offered with a starting bid of just $1. This is an exceptional entry point for developers or investors looking to capitalise on the approved Official Plan Amendment and Zoning By-law Amendment, which were granted in April 2024. These approvals permit the construction of a 4-storey, 16-unit mid-rise building, presenting a significant opportunity for growth and profitability.

The location of 47 Ranleigh Avenue, Toronto, is another compelling aspect of this property. Nestled within the vibrant Lawrence Park North community, residents will enjoy easy access to local amenities, public transport, and green spaces. The area is known for its family-friendly atmosphere and proximity to quality schools, making it an attractive location for potential tenants or future homeowners.

In terms of utilities, the property is serviced by municipal water and sewer systems, ensuring a reliable supply for all residents. The heating system is water-based, and while the property does not feature central air conditioning or a central vacuum system, it does provide internet connectivity, a necessity in today’s digital age. The absence of a family room may be seen as a limitation; however, the expansive layout and multiple kitchens allow for flexible living arrangements.

As you consider this Multi-Family Home for sale in Toronto, it is important to highlight the potential for further value enhancement through Site Plan Approval and Building Permit execution. With planning approvals already in place, a development team can swiftly move forward with their vision, whether that involves a build-and-hold strategy or a build-and-sell approach.

In conclusion, 47 Ranleigh Avenue, Toronto, presents a unique and exciting opportunity for investors and developers alike. The combination of its prime location, approved development plans, and the versatility of its current configuration makes this Multi-Family Home for sale in Toronto a property not to be overlooked. We eagerly anticipate collaborating with an ownership group that shares our vision for this exceptional site, paving the way for a successful future in one of Toronto's most sought-after communities. Don't miss out on the chance to make this property your own and unlock its full potential.

Lawrence Park North is a charming residential neighbourhood nestled in the heart of Toronto, characterised by its tree-lined streets and a blend of architectural styles, from elegant detached homes to modern townhouses. The area boasts a serene suburban atmosphere while being conveniently located near the bustling urban amenities of the city. Residents enjoy easy access to lush parks, including the picturesque Lawrence Park, and a variety of local shops, cafes, and schools, making it an ideal spot for families and professionals alike. With excellent public transport links and a strong sense of community spirit, Lawrence Park North offers a delightful balance of tranquillity and accessibility, perfect for those seeking a peaceful yet connected lifestyle.

Schools in the Neighbourhood

This property is ideally situated near several reputable educational institutions, making it an excellent choice for families. Just 0.1 km away, Bedford Park Public School offers both English and French instruction for grades JK to 8, boasting a commendable school rating of 9.1. Additionally, Blessed Sacrament Catholic School, located 0.2 km from the property, provides a strong elementary education in English with a rating of 8.5. For secondary education, Northern Secondary School is a mere 2.0 km away, offering grades 9 to 12 with a solid rating of 8.4. Other nearby options include Loretto Abbey Catholic Secondary School and Marshall McLuhan Catholic Secondary School, which cater to older students, albeit with slightly lower ratings. Families seeking a diverse language of study will appreciate the availability of both English and French programs at various schools. The proximity to quality education not only enhances the community's appeal but also adds significant value to the property, making it an attractive investment for potential buyers.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 662 residents, with an average household size of 1.7 individuals. The demographic profile indicates a mature community, with an average age of 50.8 years. The average household income stands at $98,800, although 18.4% of the population is classified as low-income. The real estate market is characterized by an average property price of $1,140,000, reflecting the area's desirability. A significant portion of the population, 53.78%, is single, while 41.94% of households include children, suggesting a mix of family structures. Immigrants make up 44.44% of the community, contributing to its diversity. The rental market is robust, with 69.33% of residents renting their homes, and condos represent 18.67% of the housing stock. Education levels are high, with 65.71% of residents holding a college or university degree. However, a notable 43.81% of the population is not participating in the labor force, indicating potential challenges in employment opportunities. Overall, this demographic snapshot reveals a well-educated, diverse community with a mix of families and singles, set against a backdrop of high property values and a significant rental market.