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. (id:47423)
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Detailed Information
Bedrooms
5
Bathrooms
3
Features
Central location, Level lot, Southern exposure, See remarks, Other, Rectangular
Listing Contract Date
2024-07-10
Municipal ID
000-115-428
Ownership Type
Freehold
# of Parking Spaces
5
Property Type
Single Family
Transaction Type
For sale
Zoning Description
R-SSMUH
Zoning
Residential
Building
Constructed Date
1944
Cooling Type
None
Heating Fuel
Natural gas
Heating Type
Forced air
Total Finished Area
2369 sqft
Type
House
Rooms
Room
Level
Dimensions
Notes
Other
Lower level
8 ft x Measurements not available
Storage
Lower level
5'6 x 3'8
Storage
Lower level
3'3 x 5'3
Laundry room
Lower level
5'11 x 8'10
Bedroom
Lower level
24'8 x 12'1
Bedroom
Lower level
13'9 x 13'2
Bedroom
Lower level
14'6 x 12'10
Bathroom
Lower level
5 ft x Measurements not available
Other
Main level
5'5 x 2'1
Mud room
Main level
13 ft x Measurements not available
Living room
Main level
14'3 x 10'9
Kitchen
Main level
13'2 x 9'6
Kitchen
Main level
13'2 x 12'2
Dining room
Main level
Measurements not available x 12 ft
Primary Bedroom
Main level
Measurements not available x 14 ft
Bedroom
Main level
8'1 x 10'11
Bathroom
Main level
7'7 x 4'11
Bathroom
Main level
10'1 x 7'9
Land
Total Size
0.5 acres
Size of Irregular Land
0.5
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