12666 114 AVENUE, Surrey
$1,385,000
This 8,671 sqft property in Surrey is a detached single-family home on a lot the new rules make suitable for a multiplex. Surrey follows the provincial small-scale housing rules, so most single-family lots allow three to four homes, and up to six near frequent transit. Surrey's larger lots and lower land prices often lift the number of units that pencil out.
Investors and developers, alert! Incredible opportunity in a highly desirable, central, and quiet neighbourhood! This 3-bedroom rancher sits on a massive 8,671 sq. ft. rectangular corner lot with R3 zoning, opening up fantastic development and multi-unit potential.(Buyers Must Do Their Own Due Diligence). A premier holding property, it generates an impressive total rental income of $4,500/month on a flexible month-to-month basis (Home: $3,000/month | Storage Shed: $1,500/month). All measurements are approximate and should be verified by the Buyer/Buyer's Agent. Call right away to schedule a private viewing!
How this price compares
This lot asks $160 per square foot of lot. That is 9% above the median of $147 across the 495 active lots VanPlex is showing in Surrey, and puts it 303 of 495 from cheapest to most expensive. Asking prices only, taken from the current MLS® feed.
Land price per square foot is only one input. Frontage, lane access, slope, and how many homes the zoning actually allows decide what a lot is worth to a builder.
Lot and property details
- Price
- $1,385,000
- Lot size
- 8,671 sqft
- Lot dimensions
- 71 x 122
- Frontage
- 71 ft
- Bedrooms
- 3
- Bathrooms
- 1
- Year built
- 1947
- MLS® area
- Bridgeview
- MLS® number
- R3172893
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Listing data via MLS®. Displayed for information only.