Exceptional investment potential awaits with this property! Located in Colwood, this expansive lot spans over half an acre and presents an easily sub-dividable opportunity. Currently hosting a non-conforming fourplex, the property offers ample space for another build or subdivision, with the existing dwelling occupying only half of the parcel.The fourplex comprises two 3-bedroom units and two 2-bedroom units, providing a variety of rental options to maximize income potential. Practical amenities include separate paid laundry facilities and individual meters for each unit, ensuring convenience and efficiency for both landlord and tenants. Upgrades to the property include a natural gas hot water tank, a newer furnace, and updated roof and decks, enhancing the overall appeal and value. Each unit is assigned its own address, promoting a sense of individuality and privacy. The property boasts generous parking provisions and is ideally situated in a thriving area, with Colwood's recent expansion of Veterans Memorial Way just a stroll away. Residents will appreciate the convenience of being within walking distance to Belmont City Centre, Westshore Mall, and public transit, making this an attractive location for tenants and future development alike. Whether you're seeking immediate rental income or long-term development prospects, this property offers a compelling opportunity for savvy investors. *Buyer to verify any development or sub-division potential with local authorities.* (id:32467)

Building

• Cooling Type: None
• Fireplace: No
• Interior Size: 4638 sqft
• Building Type: Fourplex

Features

• Feature: Wooded area, Rectangular

Land

• Land Size: 0.51 ac

Maintenance Fee

• Maintenance Fee: 0.00

Ownership

• Type: Freehold

Structure

• Structure: Shed

Information entered by eXp Realty
Listing information last updated on: 2024-04-23 17:04:30