This 2B/1B home sits on 0.7 acres that can be subdivided into three (3) parcels under current zoning or seven (7) under the new Official Community Plan. Subdividing into 7 will involve (A) waiting for the OCP's adoption in 2024-25 or (B) rezoning, which is what a neighbour has done to subdivide at that density now (30 units per hectare). Ideal for a local builder, investor, or a group/family purchase. The current house allows for conventional mortgage financing. It will remain on one subdivided parcel and can then be resold, lived in, or held as a rental property. Alternatively, the house could be subdivided onto a smaller parcel now, with the remaining land sold/held for future development, or vice versa. Centrally located in Cobble Hill village, with a local pub, parks, and trails only steps away, this build-friendly property has excellent sun exposure/drainage, mature fruit trees, & access on three sides — plus, all utilities on the road! (water, sewer, power, & natural gas). (id:47423)
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Detailed Information
Listing Contract Date
2024-06-07
Municipal ID
003-725-031
Ownership Type
Freehold
Plan
VIP19424
Property Type
Multi-family
Transaction Type
For sale
Zoning
Unknown
Building
Size (Exterior)
977 square feet
Type
Multi-Family
Land
Total Size
0.7 acres
Size of Irregular Land
0.7
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