Multi Family home located in Malahat & Area
MLS #1014467
Listed by Coldwell Banker Oceanside Real Estate
- Built in: 1957
- Type: Commercial Sale
- Cooling: None,
- Heating: Baseboard,
- Foundation Details: Pillar/Post/Pier, Slab,
- Lot Size: 0.7 acres
- Total Parking: 3
- Parking Features: On Site,
- Features: Corner Lot,
- Zoning: R3
Description
COBBLE HILL DEVELOPMENT PROPERTY. Fully serviced, level & cleared 0.7 ac. corner lot w/ multiple access points. Flexible paths forward for immediate or phased development. Property features an updated 2B/1B dwelling to support conventional mortgage financing (vs. bare land) & increase post subdivision lot value. Home can serve as a primary or secondary home if future owners wish to build (prev. rented for $2,200/mo). Preliminary approval secured for a 3-lot subdivision per current R3 zoning (900 m² lots) with no park dedication required. Property is designated “Compact Suburban” in the CVRD’s newly adopted OCP, w/ rezoning expected in 2025/26. CS zoning will support higher density - up to 8 lots (333 m²) - including duplexes & multi-unit. Buyers may continue with the current application (and explore a second/future subdivision), or hold/redesign plans in alignment with the OCP. Several unique outbuildings including detached A-frame/office & studio can remain or be removed if preferred.