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$ 1,895,000
Est. payment | /mo
0.34 Acres Lot
$ 1,895,000
Est. payment | /mo
0.34 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Jubilee
MLS® Listing ID 1039227
Lot Size 0.344 Acres
Acres 15000.0
Property Sub-Type Freehold
Property Description
Echoes of the Past, Looking to the Future. This Property proudly offers 7 bedrooms with 3 Accommodations, and a Country ambiance with City convenience. Huge 15,000 sq ft lot (100 x 150) GRD-1 Zoning. 1:6 promises a rich and varied future for the astute investor! Close to the RJH, Camosun, UVIC, and amenities. Walk score 99/100. A perfect holding property with excellent income ($9800/mo.). Please do not bother the Tenants. Min. 72 hr notice, and only upon a signed NDA. The Seller has spoken with the City of Victoria and understand that due to their large double-sized lot plus proximity to key transport corridors, the following could be developed: Development Options: A. 8-10 townhouses sited within the original lot; up to 3 stories each B. Existing house could be moved to one side, and a 2nd single family dwelling could be built on the open half lot with potential for subdivision. C. Subdivision of the lot into 2 normal sized lots, and development of new single family dwellings on each lot, with additional infill carriage units; D. Maintain the house as a cash-flow positive rental unit; keep as a holding property E. Other options, to be explored and determined by the buyer: BACKGROUND: The property is Zoned General Residential District 1 which allows for a diversity of building forms ranging from residential infill with a 1.6:1 floor square ratio and 14 m building height. This permits a wide range of options including houseplexes, house conversions, 3-story townhouses etc, without requiring rezoning. More intense development is also possible and would see an increase in options for floor square ratio and height. The house has character/heritage value but is not on the Heritage register. It currently operates as a cash-flow positive multi-family tenanted rental property with 6 off-street parking spaces. A Rare Opportunity indeed. Buyer to verify all information and measurements, and satisfy themselves. (id:24570)
Location
Province BC
Zoning Unknown
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 6
Garage No
Private Pool No
Others
Ownership Freehold
Virtual Tour https://sites.listvt.com/vd/248124366
Listed by Coldwell Banker Oceanside Real Estate
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