3055 140 STREET, Surrey
$7,990,000
This 106,725 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.
Investor/Developer Alert! Rare 2.45-acre flat, cleared property in prestigious Elgin Chantrell, extending from 140 Street to 139 Street. The solid, partially updated home (2015) offers 7 bedrooms and 6 bathrooms, complemented by a detached 5-car garage, an additional rear garage and ample storage, providing excellent holding value. Proposed rezoning from RA to R2 and subdivision into 8 residential lots, each approx. 10,021 sqft, with potential for single-family homes or multiplex development. Current Planning Status: Third Reading. An exceptional investment opportunity in one of South Surrey's most desirable neighbourhoods. Call for details!
How this price compares
This lot asks $75 per square foot of lot. That is 49% below the median of $146 across the 496 active lots VanPlex is showing in Surrey, and puts it 89 of 496 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
- $7,990,000
- Lot size
- 106,725 sqft
- Lot dimensions
- 162 x
- Frontage
- 162 ft
- Bedrooms
- 7
- Bathrooms
- 6
- Year built
- 1973
- MLS® area
- Elgin Chantrell
- MLS® number
- R3175474
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Listing data via MLS®. Displayed for information only.