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$ 2,975,000
Est. payment | /mo
0.49 Acres Lot
$ 2,975,000
Est. payment | /mo
0.49 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1020443
Rental Info Unrestricted
Year Built 1927
Annual Tax Amount $13,663
Tax Year 2025
Lot Size 0.490 Acres
Acres 0.49
Property Sub-Type Land
Property Description
942 Preston Way offers a rare opportunity to acquire a professionally managed 10-unit multi-family property with strong holding income and significant redevelopment potential. The building is fully tenanted with long-term residents, providing consistent cash flow while future plans are advanced.
Recent improvements include the renovation of two 2-bedroom units, supporting stable operations and enhancing overall property condition. Current zoning (RM3) permits development of a residential apartment building of up to six storeys, offering an immediate pathway for medium-density construction.
Developers will also appreciate the potential for rezoning to CC1, which would allow for higher density and expanded mixed-use possibilities. With its steady income stream, proven management, and strong land-use flexibility, 942 Preston Way is a prime opportunity for a developer seeking a centrally located, growth-oriented project site.
Recent improvements include the renovation of two 2-bedroom units, supporting stable operations and enhancing overall property condition. Current zoning (RM3) permits development of a residential apartment building of up to six storeys, offering an immediate pathway for medium-density construction.
Developers will also appreciate the potential for rezoning to CC1, which would allow for higher density and expanded mixed-use possibilities. With its steady income stream, proven management, and strong land-use flexibility, 942 Preston Way is a prime opportunity for a developer seeking a centrally located, growth-oriented project site.
Location
Province BC
County Capital Regional District
Area La Jacklin
Zoning RM#
Rooms
Kitchen 0
Exterior
Total Parking Spaces 14
Building
Sewer Sewer Connected
Water Municipal
Others
Pets Allowed Yes
Tax ID 002-456-184
Ownership Freehold
Acceptable Financing Purchaser To Finance
Listing Terms Purchaser To Finance
Pets Allowed Aquariums, Birds, Caged Mammals, Cats, Dogs
Listed by Pemberton Holmes - Westshore