An exceptional opportunity to acquire approximately 1.105 acres of strategically located development land along King Street East, surrounded by established residential communities and an extensive range of schools, parks, shopping, transit, services, and everyday amenities. The property is currently zoned R2 – Medium-High Density Residential, offering the potential for a range of multiple-unit residential uses. The R2 zoning adds significant appeal for builders, developers, and investors seeking land with residential development potential. With approximately 1.105 acres of land, the property provides a variety of future residential concepts, subject to applicable zoning provisions, municipal requirements and all required approvals. Its location along King Street East provides convenient connectivity while placing future residents within close proximity to schools, parks, public transit, shopping, restaurants and other essential amenities. The combination of substantial land area, R2 Medium-High Density Residential zoning, established surrounding neighbourhoods, and convenient access to major amenities makes this an opportunity to investigate the possibilities for future residential development. Whether you are a builder looking for your next project, a developer seeking a strategically positioned residential parcel or an investor exploring long-term development potential, this property offers an opportunity to secure a sizeable development site in an established and desirable location. Development potential is subject to municipal approvals, zoning compliance, permitted-use requirements, site plan approval, servicing and infrastructure capacity, environmental and technical requirements, and all other applicable approvals and regulations. A rare opportunity to acquire and explore the potential for future residential development in a well-established and highly connected area. (id:66096)
Property Details
MLS®
40866904
Property Type
Vacant Land
Zoning
R2
Lot Size
1.70 acres
Frontage
113 ft
Price per Acre
$528,824 per acre
Basement
None
Ownership
Freehold
Property Tax
$9,353/yr
Listed
36 days ago
Services
Water
None
Sewer
No sewage system
Features and services as supplied by the listing brokerage.
Market Timing
Days on market
36d
Cambridge listings, avg age
57d
List price
$899K
Extended: 36 days on market, against an average age of 57 days across the listings currently for sale in this city
Market timing · days on market0 → 57d avg age of current listings
Extended · day 36
Homes here sell faster than most markets
Sold homes in this market spent an average of 32 days on the market over the past year, against a median of 48 days across the markets we publish.
Homes here sell close to asking price
Homes in this market sold for an average of 99.9 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.
Haho
This vacant land in Cambridge has been listed for 36 days, which is 21 days fresher than the city average of 57. Act while there is still low competition.
Listed by RE/MAX Twin City Realty Inc. · ANURAG SHARMA
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Area context
Neighbourhood profile (N3H)
This home lists at $899,000, about 11.0× the local median household income of $82,000.
Carrying it typically needs a household income of about $175,606 (20% down, 25-yr amortization, stress-tested) — roughly 114% above the area median.
Median household income
$82,000
Population
24,306
Median age
40.8
Owner / renter
62% / 38%
Avg. household size
2.5
Source: Statistics Canada, 2021 Census (FSA N3H)
$899,000
For sale
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Financing
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