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$995,000
Est. payment /mo
0.7 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Cobble Hill
MLS® Listing ID 1014467
Year Built 1957
Lot Size 0.700 Acres
Acres 0.7
Property Sub-Type Freehold
Source Victoria Real Estate Board
Property Description
COBBLE HILL DEVELOPMENT PROPERTY. Fully serviced, level & cleared 0.7 ac. corner lot w/ multiple access points. Flexible paths forward for immediate or phased development. Property features an updated 2B/1B dwelling to support conventional mortgage financing (vs. bare land) & increase post subdivision lot value. Home can serve as a primary or secondary home if future owners wish to build (prev. rented for $2,200/mo). Preliminary approval secured for a 3-lot subdivision per current R3 zoning (900 m² lots) with no park dedication required. Property is designated “Compact Suburban” in the CVRD's newly adopted OCP, w/ rezoning expected in 2025/26. CS zoning will support higher density - up to 8 lots (333 m²) - including duplexes & multi-unit. Buyers may continue with the current application (and explore a second/future subdivision), or hold/redesign plans in alignment with the OCP. Several unique outbuildings including detached A-frame/office & studio can remain or be removed if preferred. (id:24570)
Location
Province BC
Zoning Unknown
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters
Cooling None
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 3
Private Pool No
Others
Ownership Freehold
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Listed by Coldwell Banker Oceanside Real Estate
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