0.70 ACMultifamily$995,000Sale
0.70 AC
Multifamily
$995,000
Sale
Cassandra Cherneff
Coldwell Banker Oceanside Real Estate
The Space
Asking Price$995,000
Available Space0.70 AC
MLS® ID1014467
ZoningR3
Year Built1957
Parking Spaces3
SourceVictoria Real Estate Board
Corner Lot
The Building
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.
Property TypeMultifamily
Building Size918 ft²
Lot Size0.70 AC
MLS® ID1014467
ZoningR3
Year Built1957
Parking Spaces3
Corner Lot
NOTE: MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.
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