75 Mutual Street, Toronto, ON, M5B 2B7, CA

75 Mutual Street

Attributes

Building area net

247 m²

Year built

1960

Land area gross

199 m²

Zoning

CR 4.0 (c0.5: r4.0) SS1

Parking spaces

Asset Description

Jones Lang LaSalle Real Estate Services, Inc. is pleased to offer for sale a 100% freehold interest in 75 Mutual Street, Toronto, ON (the “Property” or the “Site”). The Site presents a rare opportunity to acquire a 2,143 square foot (“SF”) lot in the Church-Yonge Corridor, currently improved with an existing three (3) storey, office building totalling 2,655 SF. The Property is located near the intersection of Dundas Street East and Jarvis Street, positioned in proximity to Toronto Metropolitan University (“TMU”), just 10 metres from their flagship HOEM student housing residence building. The Property will be vacant upon closing, offering an opportunity for owner-users looking to acquire a building in the downtown core, or developers looking to take advantage of the acute shortage of student housing options.

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Investment Highlights

The Site’s strategic positioning just 250 metres from Toronto Metropolitan University, presents an excellent opportunity for a future student housing development. The university, with 46,723 students, currently has a significant shortage of on-campus accommodations, providing only one bed for every 40.8 students in its residence program. The substantial gap in student housing options presents a significant opportunity for potential purchasers to capitalize on the shortfall to generate attractive returns. Current ownership has draft plans for a 24-unit student residence building, with the opportunity to scale through assembling adjacent parcels of land.