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$8,970,000
Est. payment /mo
18.7 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 956346
Rental Info Unrestricted
Annual Tax Amount $6,000
Tax Year 2023
Lot Size 18.700 Acres
Acres 18.7
Property Sub-Type Land
Property Description
For additional information, please click on Brochure button below.
The # of FEE SIMPLE lots has now TRIPLED. The yield's also increased 5 X fold, from 30 homes (15 x duplex lots) to now 160 homes (40 x fourplex lots) !!!
160 homes under current new zoning.
Price is only $ 56 k / per door, land cost !!!
DP approved. Phase 1 is 35 lots for the first 140 homes.
40 x (fourplex lots @ $499k) = $20M less $2M remaining service costs is net $18M residual value.
Even 40 x (lots @ $479k) = $19.2M less $2M is still net $17.2M. Land's for sale at less than half price @ only $ 8.97M
OR, rezone as CD multifam strata for 350 - 500 units on the 18.7 AC prime property.
Permits in place & trees already cleared, internal roads roughed in and $250k pond's already constructed.
* Devp is ripe for 2025 Spring/ Summer construction at this great location. Courtenay has a significant housing shortage, and pent up demand for both LOTS & affordable homes.
The # of FEE SIMPLE lots has now TRIPLED. The yield's also increased 5 X fold, from 30 homes (15 x duplex lots) to now 160 homes (40 x fourplex lots) !!!
160 homes under current new zoning.
Price is only $ 56 k / per door, land cost !!!
DP approved. Phase 1 is 35 lots for the first 140 homes.
40 x (fourplex lots @ $499k) = $20M less $2M remaining service costs is net $18M residual value.
Even 40 x (lots @ $479k) = $19.2M less $2M is still net $17.2M. Land's for sale at less than half price @ only $ 8.97M
OR, rezone as CD multifam strata for 350 - 500 units on the 18.7 AC prime property.
Permits in place & trees already cleared, internal roads roughed in and $250k pond's already constructed.
* Devp is ripe for 2025 Spring/ Summer construction at this great location. Courtenay has a significant housing shortage, and pent up demand for both LOTS & affordable homes.
Location
Province BC
County Courtenay, City Of
Area Cv Courtenay City
Zoning R-SSMUH
Direction North
Rooms
Kitchen 0
Exterior
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available
View Y/N Yes
View Mountain(s)
Total Parking Spaces 10
Building
Lot Description Acreage, Level, Private
Faces North
Sewer Sewer To Lot
Water Municipal
Others
Restrictions Restrictive Covenants
Tax ID 001-800-485
Ownership Freehold
Pets Allowed Aquariums, Birds, Caged Mammals, Cats, Dogs
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Listed by Easy List Realty