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 $3,500/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 |
Commercial Sale |
| Type of Dwelling |
Unimproved Land |
| Area |
View Royal |
| Sub-Area |
VR View Royal |
| Lot Size |
14810 Sq. Ft. |
| Lot Size Acres |
0.34 Ac. |
| Year Built |
1937 |
| MLS® Number |
975746 |
| Listing Brokerage |
Fair Realty
|
| Postal Code |
V9B 1G3 |
| Tax Amount |
$3,207 |
| Tax Year |
2023 |
| Features |
Forced Air, Hardwood |
