The Toronto real estate market is forcing buyers to pay historically high prices. But a vacant lot in York is likely out of the price range of even the most motivated homebuyer.
The lot, located at 2 A Fern Avenue, spans a whopping 24,000 sq ft and is entirely empty apart from a large storage shed towards the back. The property hit the market on Monday with an asking price of $3,000,000.
Although it’s not much to look at now, the spacious lot will likely attract the attention of developers with its ability to fit multiple homes. The listing also highlights the fact that all utilities, including electricity, cable, natural gas, and sewers, are available to the property, which would help when building a future development.
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The location of the vacant Toronto lot would be desirable to future residents since it’s close to the TTC and UP Express, making for an easy commute. It’s also just a short drive away from Highway 400, Highway 401, Highway 427, Black Creek Drive, and Toronto Pearson Airport.
Just two blocks away from the property are the Humber River Nature Trails which would provide expansive and easily accessible outdoor space. The neighbourhood also has an arena, swimming pool, tennis club, and baseball diamonds, so there’s no shortage of sports facilities.
Whatever the lot ends up selling for, it’ll be interesting to see what becomes of it in the future.