2059 Bancroft Dr

Greater Sudbury P3B 1T1

Rare large-scale multi-family investment opportunity with cash-flowing fourplex. This urban development property includes a well-maintained four-plex, built in 2016, on an expansive 4.79-acre parcel in an established residential neighbourhood. The apartment building includes four single-storey self-contained 2-bedroom, 1-bath units, offering immediate and reliable rental income. The site appears to have excellent development potential, with mapping showing dual road frontages on Bancroft Drive and Second Avenue, the entire property located outside of Conservation Sudbury's Regulation Area, and multiple potential connection points for municipal services. The current site-specific zoning R3-1.D30(10), permits two apartment buildings with up to 30 units each. The owner has initiated a rezoning application to R3-1 to increase the number of units and flexibility in built form, with significant pre-development work and studies already completed. This opportunity is well-suited to investors seeking a cash-flowing asset with substantial redevelopment and value-add potential. Buyers to confirm zoning, density, and development possibilities with the appropriate authorities. (id:2493)