Victoria Park - House or Townhouse

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Hey guys,

I am looking to possibly acquire an older property in Victoria Park with hopes to rent it out for a while and at a later stage rebuild.

Different lots/houses are in different zoning there and I am trying to think what would be more beneficial to me in the future.

1) Buying a lot in a great location ~7-8K Square Feet which I can one day tare down and rebuild a new home on it

2) Buying a lot that is a big bigger 9-10K square feet which Ic an one day tare down and rebuilt two townhouses (with zoning allowing this)

There are a few properties on the table, I am trying to understand if the long plan should be to build to two townhouses or 1 big house on the lot.

What do you think will have more long term appreciation / rentability?

Which do you think is the better choice?

Thank you