DEVELOPMENT OPPORTUNITY! This property situated in a walkable community near shopping, banking, amenities, schools and public transportation offers the opportunity for redevelopment/rezoning to higher density to accommodate townhomes or mixed use development up to 4 stories with an FAR of 1.75 equating to a permitted development of approximately 11,970sqft subject to application and approval from the municipality. Tenant on a month to month basis paying $1800 per month would like to stay. The Official Community Plan provides for "Neighbourhood Centre" permitting the following uses - Multi-unit residential, mixed-use, Commercial, Institutional, Live/work, home occupation and customer service oriented industrial uses. Buyers must complete their due diligence with Colwood municipality to ensure they may utilise the property for their intended use. Great opportunity to buy and hold as higher density gets approved throughout Colwood.
Data was last updated November 24, 2024 at 08:05 PM (UTC)
Area Statistics
Listings on market:
200
Avg list price:
$923,950
Min list price:
$299,999
Max list price:
$2,500,000
Avg days on market:
68
Min days on market:
1
Max days on market:
676
Avg price per sq.ft.:
$544.93
These statistics are generated based on the current listing's property type
and located in
Colwood. Average values are
derived using median calculations.