House for sale
1530 Willemar Ave, Courtenay
$849,900
Features
Style
Main Level Entry With Lower Level(s)
Year Built
1944
Floor Area
2,369 sqft
Lot Size
21,780 sqft
Gross Property Tax
$5,390 /year
Zoning
R-SSMUH
Amenities
Balcony/Deck, Fencing: Partial, Garden, Insulated Windows, Dishwasher, F/S/W/D
Additional Features
Central Location, Easy Access, Family-Oriented Neighbourhood, Level, Recreation Nearby, Rectangular Lot, Shopping Nearby, Sidewalk, Southern Exposure, See Remarks
Description
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.
MLS® Number 969275