5 beds · 3 baths · 2369 sqft
Prime Development Opportunity in Courtenay! Discover an excellent opportunity for development in an affordable area of Courtenay. This character home is situated on a 0.504-acre (2,023 m²) a flat and mostly cleared lot, now benefiting from the New R-SSMUH (Residential Small-Scale Multi-Unit Housing) zoning regulations, which significantly enhance its potential for multifamily development. The property boasts dual lane access and main street frontage, offering flexibility and ease for development projects. The existing home is positioned at the front third of the lot, allowing for rental income while planning and permits are obtained for further development. The larger back two-thirds of the property is ideally suited for constructing up to four small-scale multi-unit housing units. These new zoning regulations are part of a strategic initiative to increase housing supply and diversity, providing a range of affordable housing options. This property represents an ideal investment for those looking to capitalize on Courtenay’s evolving real estate market. This is a unique opportunity to develop a prime piece of real estate with significant potential for return on investment. Whether you are an investor or a developer, this property offers a substantial chance to create a valuable asset in a growing and affordable area of Courtenay. (id:39198)
Building Type House
Year built 1944
Square Footage 2369 sqft
Stories
Bedrooms 5
Bathrooms 3
Parking 5
NeighbourhoodCourtenay City
Land size 0.5 ac
Heating type Forced air
Basement type
Parking Type
Time on REALTOR.ca69 days
This home may not meet the eligibility criteria for Requity Homes. For more details on qualified homes, read this blog.
Brokerage Name: Royal LePage-Comox Valley (CV)
Home price
$849,900
Start with 2% down and save toward 5% in 3 years*
* Exact down payment ranges from 2-10% based on your risk profile and will be assessed during the full approval process.
$7,731 / month
Rent $6,837
Savings $894
Initial deposit 2%
Savings target Fixed at 5%
Start with 5% down and save toward 5% in 3 years.
$6,814 / month
Rent $6,627
Savings $186
Initial deposit 5%
Savings target Fixed at 5%