Overview

This lot in Fort Erie is for sale. It has been on the market 56 days, fresher than the Fort Erie average of 101 days.

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Description

Prime Investment Opportunity 250 Phipps St, Fort Erie - Security Deposit already paid! An exceptional 1.246-acre development site in Fort Erie, site-plan approved for a four-storey, 43-unit multi-residential building. Previously home to the original Rose Seaton School, this site carries forward its legacy as Rose Seaton Heights, a key addition to the revitalization of this growing north-end neighborhood. For those looking to move forward seamlessly, the purchase price includes the site-plan agreement, paid $300K Town of Fort Erie security deposit, studies, reports, and plans; providing a significant cost and time advantage. The buyer will be responsible for separately paying permit fees to the Town of Fort Erie. Located within walking distance to parks, Downtown Bridgeburg, and the scenic Niagara River with its walking, running, and cycling trails, this property offers tremendous potential in a rapidly developing area. Don't miss this rare opportunity to invest in a shovel-ready, multi-residential project in a prime Fort Erie location. (id:66096)

Market Timing

Days on market

56d

Fort Erie (Central) listings, avg age

101d

List price

$2.19M

Homes here sell slower than most markets

Sold homes in this market spent an average of 62 days on the market over the past year, against a median of 48 days across the markets we publish.

Haho

This vacant land in Fort Erie (Central) has been listed for 56 days, which is 45 days fresher than the city average of 101. Act while there is still low competition.

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Area context

Neighbourhood profile (L2A)

This home lists at $2,190,000, about 30.2× the local median household income of $72,500.

Carrying it typically needs a household income of about $427,784 (20% down, 25-yr amortization, stress-tested) — roughly 490% above the area median.

Median household income: $72,500
Population: 17,293
Median age: 49.2
Owner / renter: 74% / 26%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA L2A)

$2,190,000

For sale

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Financing

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250 Phipps Street, Fort Erie (Central) - Vacant Land for Sale

Description

Property Details

Features

Services

Market Timing

Location

Nearby Places

Neighbourhood profile (L2A)

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