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Listed by Martek Morgan Finch Incorporated
$ 1,600,000
Est. payment | /mo
$ 1,600,000
Est. payment | /mo
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1282394
Annual Tax Amount $1,153
Tax Year 2024
Lot Dimensions 2.19 acres
Source NLAR
Property Description
This fantastic 2.14-acre development site in a great location in the Northwest section of Labrador City is now available for purchase. The site is pad ready with access to full municipal services and utilities adjacent to the site. A corner lot located on the Southeast corner of Tamarack Drive and Wax Wing Avenue, this site provides 415 feet of frontage on Tamarack Drive and 204 feet along Wax Wing Avenue. With existing zoning of Residential Medium Density, this site has previously been approved by the Town for the development of two 31-unit apartment buildings and also permits the development of row housing units, or a combination of both.
In an area with near 0% percent rental vacancy, a critical housing shortage, rental rates trending upwards, and a shortage of shovel-ready sites with zoning already in place for multi-family development, this site provides a significant opportunity for real estate investors, developers and companies requiring staff housing. Vendor would consider splitting the site into two (2) 1-acre sites and selling them individually. Pricing would be different if divided. Contact the agent for more details.
In an area with near 0% percent rental vacancy, a critical housing shortage, rental rates trending upwards, and a shortage of shovel-ready sites with zoning already in place for multi-family development, this site provides a significant opportunity for real estate investors, developers and companies requiring staff housing. Vendor would consider splitting the site into two (2) 1-acre sites and selling them individually. Pricing would be different if divided. Contact the agent for more details.
Location
Province NL
Zoning RDM
Building
Sewer Municipal
Water Municipal
Nearby Locations
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