Property Description

LAND ASSEMBLY FOR MULTI-FAMILY INFILL DEVELOPMENT Rare opportunity to acquire a three-property land assembly at 1304, 1308 & 1312 Main Street, Saskatoon, offering approximately 21,840 SF of combined land area and 156 feet of Main Street frontage. The assembled site presents an exceptional opportunity for multi-family infill residential development within an established Saskatoon neighbourhood. The properties are located within the 8th Street Corridor Residential area, providing potential for multi-unit residential development with an allowable building height of up to 4 storeys (15 metres). All three properties include fully leased, quality existing rental homes. The homes have benefited from recent upgrades and improvements and provide established, desirable rental accommodation. The properties currently generate approximately $90,600 in gross annual rental revenue, providing strong holding income while the purchaser plans and pursues future development of the assembled site. The substantial 156 feet of Main Street frontage and approximately 21,840 SF of combined land area provide flexibility for a variety of multi-family development concepts. This offering provides the unique opportunity to acquire a well-maintained, income-producing residential asset with six existing rental tenancies and significant future development potential. A quality opportunity for multi-family developers, investors and long-term land bankers seeking an income-producing property with redevelopment upside in an established Saskatoon location. (id:7434)