Multi-family for sale

220 Macdonald Rd, Lake Cowichan

$3,950,000 or
$3,950,000 or

Multi-family for sale

220 Macdonald Rd, Lake Cowichan

Features

Lifestyle
956429 3950000 /en/multi-family~for-sale~lake-cowichan/956429?view=Summary /en/multi-family~for-sale~lake-cowichan/956429/photos 48.8330400000 -124.0481600000 true
Floor Area
6,000 sqft
Lot Size
104,544 sqft
Zoning
r-3
Additional Features
Acreage
Total no. of Units
6

Description

Attn Developers-Opportunity to complete this subdivision in sought after Lake Cowichan. Currently phase 2 is 35% complete with sewer and water and electrical close to the lot lines. The lots have already been cleared and graded and have a subdivision plan. The parcel includes plans for 23 lots, and 3 older duplexes which could be 3 additional lots. One duplex is move in ready with one half of it currently rented, the second half is ready for a tenant. The second duplex requires some finishing work and the third requires substantial work. There are new roofs on all three buildings, and new windows in two of the duplexes. These lots (under one pid) are located 1 km to the beach, shopping and trails. This is a fantastic place to raise a family and enjoy outdoor life all year round! ‘As is’ Appraisal value of the property is $3.960M which includes the subdivision costs of paving, sewer and water to 35% of the proposed lots. Vendor can partially finance $2M at current bank lending rates.
MLS® Number 956429

Listing REALTOR®

Belinda Kissack, REALTOR<sup>®</sup>

Belinda Kissack

REALTOR®

RE/MAX Island Properties

Location

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  • The amounts shown above are for information purposes only and do not include taxes, if applicable.
  • You must purchase mortgage default insurance if your down payment is less than 20 per cent of the purchase price of the property.
  • This calculator doesn't calculate the further 2% tax on residential property greater than $3,000,000 or the additional property transfer tax on residential property transfers to foreign entities or taxable trustees. Learn more about property transfer tax.
  • There are additional costs to buying a home. Speak with your REALTOR® for more information.
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