DEVELOPMENT OPPORTUNITY! This property situated in a walkable community near shopping, banking, amenities, schools and public transportation offers the opportunity for redevelopment/rezoning to higher density to accommodate townhomes or mixed use development up to 4 stories with an FAR of 1.75 equating to a permitted development of approximately 11,970sqft subject to application and approval from the municipality. The Official Community Plan provides for "Neighbourhood Centre" permitting the following uses - Multi-unit residential, mixed-use, Commercial, Institutional, Live/work, home occupation and customer service oriented industrial uses. Buyers must complete their due diligence with Colwood municipality to ensure the buyers may utilise the property for their intended use. The 2 bedroom mobile home on the property provides $1800 per month revenue while you plan your development.
Address
592 Heatherly Rd
List Price
$899,000
Property Type
Residential
Type of Dwelling
Single Family Residence
Area
Colwood
Sub-Area
Co Royal Roads
Bedrooms
2
Bathrooms
1
Floor Area
840 Sq. Ft.
Lot Size
6840 Sq. Ft.
Lot Size (Acres)
0.16 Ac.
Year Built
1972
MLS® Number
979004
Listing Brokerage
Royal LePage Nanaimo Realty (NanIsHwyN)
Basement Area
Crawl Space, Other
Postal Code
V9C 1K1
Tax Amount
$2,392.00
Tax Year
2023
Features
Baseboard, Dining/Living Combo, Eating Area, Electric, F/S/W/D, Mixed, Refrigerator, Window Coverings
Amenities
Balcony/Deck, Central Location, Curb & Gutter, Easy Access, Fencing: Partial, Ground Level Main Floor, Level, Marina Nearby, Near Golf Course, No Through Road, Recreation Nearby, Rectangular Lot, Serviced, Shopping Nearby, Workshop