$259,000
8 Smith Street
Beds
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Baths
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Sqft
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Year
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Type
Vacant Land
Suite
Investment signal
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Amherst. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
Fantastic development opportunity in Amherst. This property comes with an approved Development agreement allowing for the construction of Two 12 unit apartment buildings for a total of 24 residential units. It's an excellent option for builders or investors looking to take on a multifamily project in a strong rental market with steady demand for quality housing. Municipal water and sewer services are available, and the Development Agreement along with rough building layouts can be provided for review. With the DA already in place, a buyer can move forward without the hassle of going through the development Agreement process, saving significant time and uncertainty. The site offers a clear path for planning and design, with a buyer's preferred approach. (id:65958)
- Subtype
- Vacant Land
- Community
- Amherst
- Common interest
- Freehold
- Lot size
- 0.97 acres
- Lot dimensions
- 0.97
- On market
- Feb 18, 2026
- Status changed
- Apr 27, 2026
- Photos
- 3
- MLS#
- 202602958
- Area
- AMHERST
Features and systems
Parking
Lot
Cash on cash
16.39%
Cap rate
8.14%
GRM
9.0
Break-even rent
$1,655
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 27, 2026.