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Nixon*
#2 - 3179 Barons Rd
Nanaimo, BC
Canada V9R 5B3
Details
Address | 1530 Willemar Ave |
Area | Comox Valley |
Sub Area | Courtenay City |
State/Province | British Columbia |
Country | Canada |
Price | $849,900 |
Property Type | Single Family |
Bedrooms | 5 |
Bathrooms | 3 |
Floor Space | 2369 Square Feet |
Lot Size | 21780.00 Square Feet |
Waterfront | No |
Year Built | 1944 |
Taxes | $5,390 |
Tax Year | 2024 |
MLS® # | 969275 |
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.
Listed by ROYAL LEPAGE-COMOX VALLEY (CV)
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About
I have a background in Real Estate investing and am very knowledgeable on using a proven system to calculate cash flow with built in contingencies for the ups and downs we see in Real Estate.
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