18.7 Acres Lot
18.7 Acres Lot
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
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
State 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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3775 Panorama Crescent, Chemainus, British Columbia, V0R 1K4, CAN