164 Albert Street
Central, Oshawa
$599,900
Bedrooms: 3
Bathrooms: 3
Living Area: 1,100 sqft
Price Per Sqft: $545.36
About this Detached
in Central, Oshawa
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. Purchasers are advised to conduct independent planning, zoning, and development due diligence with the City of Oshawa and relevant authorities
Listed by RE/MAX WEST REALTY INC..
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LAND TRANSFER TAX CALCULATOR
| Purchase Price | |
| First-Time Home Buyer |
|
| Ontario Land Transfer Tax | |
| Toronto Land Transfer Tax | |
Province of Ontario (effective January 1, 2017)
For Single Family or Two Family Homes
- Up to and including $55,000.00 -> 0.5%
- $55,000.01 to $250,000.00 -> 1%
- $250,000.01 to $400,000 -> 1.5%
- $400,000.01 & $2,000,000.00 -> 2%
- Over $2,000,000.00 -> 2.5%
First-time homebuyers may be eligible for a refund of up to $4,000.
Source: Calculating Ontario Land Transfer Tax
Source: Ontario Land Transfer Tax for First-Time Homebuyers
City of Toronto (effective March 1, 2017)
For Single Family or Two Family Homes
- Up to and including $55,000.00 -> 0.5%
- $55,000.01 to $250,000.00 -> 1%
- $250,000.01 to $400,000 -> 1.5%
- $400,000.01 & $2,000,000.00 -> 2%
- Over $2,000,000.00 -> 2.5%
First-time homebuyers may be eligible for a rebate of up to $4,475.
Source: Municipal Land Transfer Tax Rates and Calculations
Source: Municipal Land Transfer Tax Rates Rebate Opportunities
MORTGAGE CALCULATOR
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| * This material is for informational purposes only. | |||
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