Explore the potential of this mixed residential development site in the picturesque View Royal! Encompassing 14,810 sq/ft, this property boasts a two-level home with recent updates. Positioned in a dynamic, growing area amidst new condominium constructions and nestled between a modern townhouse development and an older one, this site holds promise. The existing dwelling serves as an excellent investment, featuring two levels that cater to both rental income and potential owner occupancy. Conceptual plans are available for a 4-story apartment or a 10-townhouse development, adding versatility to the property. Currently, the home is a lucrative holding asset, generating $3,300/month in rental income. Situated in a highly walkable location, the property is just steps away from the 4 Mile Pub, parks, the galloping goose, schools, and the ocean. Whether you're heading to Vic General, CFB Esquimalt, or shopping destinations. Recent upgrades gas heating, foundation waterproofing, electrical.
Address
229 Island Hwy
List Price
$1,350,000
Property Type
Residential
Type of Dwelling
Single Family Residence
Style of Home
Character
Area
View Royal
Sub-Area
VR View Royal
Bedrooms
2
Bathrooms
1
Floor Area
944 Sq. Ft.
Lot Size
14810 Sq. Ft.
Lot Size (Acres)
0.34 Ac.
Year Built
1937
MLS® Number
975747
Listing Brokerage
Fair Realty
Basement Area
Unfinished, Walk-Out Access, With Windows
Postal Code
V9B 1G3
Tax Amount
$3,207.00
Tax Year
2023
Features
Dining/Living Combo, F/S/W/D, Natural Gas, Soaker Tub, Wood
Amenities
Central Location, Cleared, Easy Access, Fenced, Level, Near Golf Course, Primary Bedroom on Main, Recreation Nearby, Rectangular Lot, Shopping Nearby, Sidewalk, Storage Shed