$1,350,000

229 Island Hwy
MLS® NO: 975746

Description

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.

General

Property Type:Unimproved Land
Taxes:$3,207
Tax Year:2023
Year Built:1937

Site Influences

Lot SqFt: 14,810
Acres: 0.34

Property Details

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Listed with:

Marko Juras
Fair Realty
Phone: 250-380-8297
Fax: 778-430-2228

NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.