Prime Development Opportunity in Courtenay! This character home on 0.50-acre (2,023 m²) flat, cleared lot, benefiting from new R-SSMUH (Residential Small-Scale Multi-Unit Housing) zoning regulations, enhancing its multifamily development potential. The property has dual lane access and main street frontage, offering flexibility for development. The existing home is at the front third of the lot, allowing for rental income while planning and permits are obtained. The larger property is possible for small-scale multi-unit housing units. These new zoning regulations aim to increase housing supply and diversity, providing affordable housing options. This property is an ideal investment for those looking to capitalize on Courtenay’s evolving real estate market. Whether you are an investor or a developer, this property offers a chance to create a valuable asset in a growing and affordable area of Courtenay.
Data was last updated December 27, 2024 at 08:05 AM (UTC)
Area Statistics
Listings on market:
117
Avg list price:
$599,900
Min list price:
$47,500
Max list price:
$5,990,000
Avg days on market:
77
Min days on market:
7
Max days on market:
956
Avg price per sq.ft.:
$433.79
These statistics are generated based on the current listing's property type
and located in
CV Courtenay City. Average values are
derived using median calculations.