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 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.
Address
1530 Willemar Ave
List Price
$749,000
Property Type
Residential
Type of Dwelling
Single Family Residence
Area
Comox Valley
Sub-Area
CV Courtenay City
Bedrooms
5
Bathrooms
3
Floor Area
2,369 Sq. Ft.
Lot Size
21780 Sq. Ft.
Lot Size (Acres)
0.5 Ac.
Year Built
1944
MLS® Number
981670
Listing Brokerage
Royal LePage-Comox Valley (CV)
Basement Area
Not Full Height, Partially Finished
Postal Code
V9N 3M3
Tax Amount
$5,390.00
Tax Year
2024
Features
Dishwasher, F/S/W/D, Forced Air, Insulated Windows, Mixed, Natural Gas
Amenities
Balcony/Deck, Central Location, Easy Access, Family-Oriented Neighbourhood, Fencing: Partial, Garden, Level, Recreation Nearby, Rectangular Lot, See Remarks, Shopping Nearby, Sidewalk, Southern Exposure