12921 56 AVENUE, Surrey
$4,500,000
This 70,131.6 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.
SUBDIVISION POTENTIAL – APPROX. 3 LOTS! Rare opportunity to own 1.61 acres in prestigious Panorama Ridge. Zoned R1 (½ Acre Residential) with Suburban 1 OCP designation, offering potential for an approximate 3-lot subdivision (buyer to verify with City of Surrey). Features 2 road frontages, city water, and sewer at 56 Ave. The existing 3,400 sq. ft. Tudor-style home offers 6 bedrooms and 3 bathrooms on a private, park-like property with mature fruit trees and is on septic. Surrounded by luxury estate homes and easy access to King George Blvd, HWY to Richmond, and South Surrey/White Rock. Build, develop, or hold as an investment. Opportunity awaits!
How this price compares
This lot asks $64 per square foot of lot. That is 57% below the median of $148 across the 515 active lots VanPlex is showing in Surrey, and puts it 62 of 515 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
- $4,500,000
- Lot size
- 70,131.6 sqft
- Lot dimensions
- 107 x 642
- Frontage
- 107 ft
- Bedrooms
- 5
- Bathrooms
- 3
- Year built
- 1935
- MLS® area
- Panorama Ridge
- MLS® number
- R3150097
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Listing data via MLS®. Displayed for information only.