Lincoln Square / Bowmanville two-flat on 60' wide lot sells for $950,000, torn down for new condos

New construction condos at 2046 West Foster. Top floors have rooftop decks with very nice views of Winnemac Park. All photos Eric Rojas, Broker, Kale Realty.

A six unit condo building nears completion at 2046 West Foster in the Bowmanville neighborhood of Lincoln Square. The property has nice views overlooking Winnemac Park. The attractive vintage two-flat building that formerly sat on a 60' wide (better than double lot) had sold twice since 2017 and then was torn down.

2046 West Foster in Lincoln Square was sold twice in two years then developed. The original two-flat had was attractive and appeared higher-end in construction than the average brick two-flat. The wide double lot made it even more desirable.

2046 West Foster a 60'x 125' lot with existing two-flat was sold in 2017 (apparently before it went to open market ) for $725,000. $362,500 per 30' wide lot is a decent deal in Lincoln Square even for busy West Foster Ave. considering the potential for development (the original property was zoned RS3 single family of two-flat). Up-zoning to larger multi-unit on this stretch of Foster is usually common and approved.

The property was sold once again in 2019 for a hefty $950,000! Again it was sold prior to going to the greater market on the MLS.

The property overlooks Winnemac Park. Not the best photo of the park on a grey day. Soccer field in the foreground. The top floors will get really nice views of the changing colors throughout the year.

The six unit building nears completion. I have not been able to locate any advertising for the units for sale as of yet.

104 condos have closed to date this year in Lincoln Square (Jan 1st through April 10th). The median price of a closed condo is $312,000. 125 condo units sold over the same period of last year with a median price about $302,000. 

The top floor units will probably be listed in the low mid $600s. A top floor newer construction three bedrooms, two baths condo with rooftop deck just down West Foster similar to 2046 W Foster sold earlier this year for $615,000.