About the Listing 498601 -

An Exceptional Opportunity Awaits Custom Home Builders And Visionary Investors Alike To Create A Bespoke Luxury Estate Or High-End Investment Property In The Highly Coveted Fairport/Spruce Hill Community, A Prestigious Neighborhood Where Newly Built Custom Residences Have Achieved Sale Prices In Excess Of Four Million Dollars. This One-Of-A-Kind Property Features An Extra-Large Irregular Lot Measuring 128' X 353', Ideally Positioned At The End Of A Private, Tree-Lined Cul-De-Sac With Desirable Western Exposure And A Serene Backdrop Of Protected Ravine, Offering Exceptional Privacy, Tranquility, And Prestige. A Significant Investor Advantage Is That The Property Has Just Been Leased For One Year At $2,500 Per Month, Providing Immediate And Reliable Rental Income While Buyers Advance Through The Permit And Planning Phase, Effectively Offsetting Holding Costs, And The Seller May Consider An Offer Conditional Upon The Buyer Determining, In Their Sole And Absolute Discretion, That The Property Is Feasible For Their Intended Use. The Property Also Benefits From Approval For An Additional Laneway Dwelling Unit At The Rear, Offering Outstanding Flexibility For Multi-Generational Living Or Enhanced Future Income Potential, And Includes A Recently Completed Survey To Streamline Redevelopment. The Existing Residence Offers Further Upside With A Walk-Out Basement Featuring A Full In-Law Suite, Currently Used As Storage Yet Easily Converted Back To A Separate Apartment With Minimal Finishing. This Rare Offering Includes Two Parcels Of Land, Parcel 1725 Measuring 60' X 197' Where The Current Residence Is Situated, And Parcel 1725A Measuring 68' X 353', Expanding The Canvas For A Truly Remarkable Build In One Of Durham's Most Established And Sought-After Enclaves.

Listing Highlights