164 ALBERT STREET, Oshawa (Central), Ontario, L1H4R2

Property Description

Prime redevelopment opportunity in a strategic Central Oshawa location. The subject property is currently improved with a registered legal two-unit dwelling, complete with separate hydro services and dual gas meters, providing holding income during planning and entitlement phases. The existing configuration includes a 3-bedroom main unit and a bachelor-style secondary apartment. The City of Oshawa has confirmed the property is presently zoned R2/R3-A/R5-C/R6-B/R7-A(Residential), permitting a wide spectrum of residential intensification, ranging from single detached dwellings to apartment buildings. Under the existing Residential zoning, there may be potential for land severance and redevelopment into multiple single detached dwellings, subject to municipal approvals and possible minor variances for frontage and/or lot area. Further enhancing the long-term upside, City Council has approved City-initiated amendments tore zone the property to CO-C (Central Oshawa). The proposed CO-C zoning supports a higher-order, mixed-use development framework, allowing for apartment buildings, rental flats, professional offices (excluding clinics), personal service establishments, restaurants, retail uses, daycare centres, schools, and other complementary uses. These amendments are currently under Provincial review, and timelines for final approval remain unknown. As currently structured, any redevelopment proposal must align with both the existing Residential zoning permissions and the approved Central Oshawa zoning framework. While traditional severance may be achievable under the current zoning, the future CO-C designation signals a shift toward more comprehensive redevelopment and urban intensification rather than simple lot splits. (id:64974)

Quick Facts

• Property Type: House (Freehold)
• Bedrooms: 3 (3 above)
• Bathrooms: 3 (1 half)
• Ownership: Freehold
• Attached: No
• Parking: 3 spaces (No Garage)
• Frontage: 59 ft (18 m)

Costs

• Annual Taxes: $2,851.00

Listing Provided by: RE/MAX WEST REALTY INC.
Board: Toronto Regional Real Estate Board
Data provided via CREA DDF®.