Property description for 464-468 Winona Drive, Toronto (Oakwood Village), ON M6C 3T7

An exceptionally rare opportunity to acquire a premier development site in the heart of Midtown Toronto between Humewood and Cedarvale neighborhoods -one of the city's strongest and most resilient rental markets. The listing price includes Site Plan Approval (SPA) for the proposed 200-unit, 11-story rental development. PAC meetings' feedback and prepared Application Package suggest a short approval period. All seller's obligations related to SPA delivery will be detailed in the Agreement of Purchase and Sale. Offers may be made conditional on these final approvals, giving developers valuable certainty as the project moves toward completion of the planning process. Two independent appraisals have valued the land at about $25 million without approvals, reflecting its true highest and best use as a large-scale rental development. The proposed building aligns perfectly with CMHC's MLI Select program. The completed asset is expected to exceed $100 million in value with projected annual rental income of more than $5,500,000.Situated in a prime Midtown location surrounded by established high-demand rental buildings, the site benefits from strong municipal support for rental intensification as Toronto prioritizes new rental supply. The previously approved townhouse plan is no longer the highest and best use of the land, which is now optimized for a transformative multi-residential project. With near-zero vacancy in the area and robust demand for high-quality rental housing, this is a rare chance for forward-thinking developers to deliver a flagship rental asset in one of Toronto's most coveted neighbourhoods. (id:38686)

QUICK OVERVIEW

134 Days on website

INTERIOR

BUILDING AND CONSTRUCTION

EXTERIOR AND LOT

UTILITIES

AREA AND SCHOOLS

FINANCIAL INFO

ADDITIONAL INFO

Price per square foot and days on website are not provided values and are calculated by REMAX.

Listing Agent RICHARD ISAAC HIMELFARB

Listing Office Forest Hill Real Estate Inc., 416-975-5588

Updated Wednesday, April 1, 2026 at 11:56:17 AM

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NEIGHBOURHOOD

About the Oakwood Village Neighbourhood

The character of Oakwood Village is exemplified by its slower-paced environment. There is a fair amount of greenery in this neighbourhood as there are many tree-lined streets. Public green spaces are very easy to get to since there are a few of them nearby for residents to unwind in. This part of the city is also very quiet, as the streets tend to be very calm.

Learn more about Oakwood Village

Elementary Schools

At least one elementary school within a 5-minute walk

Daycares

At least one daycare within a 5-minute walk

Parks

Exceptionally large amount of park space within a few minutes’ walk

Groceries

At least one supermarket within a 5-minute walk

Pedestrian friendly

Most day-to-day needs are within a few minutes' walk

CLIMATE RISK FOR M6C 3T7

FINANCING

10 Tips for Getting the Best Mortgage Rate in Canada

Mortgage Payments for 464-468 Winona Drive, Toronto (Oakwood Village), ON M6C 3T7

$133,915

Monthly

Estimated Payment

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464-468 WINONA DRIVE, TORONTO (OAKWOOD VILLAGE), ON M6C 3T7