46086 RIVERSIDE DRIVE, Chilliwack
$1,149,000
This 20,473 sqft property in Chilliwack is a detached single-family home on a lot the new rules make suitable for a multiplex. Under BC's Bill 44 small-scale housing rules, most single-family lots in Metro Vancouver now allow at least three to four homes, and lots near frequent transit can allow up to six. Confirm the exact number for this lot against the city's own zoning.
An exceptional development opportunity on an approximately 20,473 sq. property in an established Chilliwack neighbourhood. Currently zoned R1-A and designated Mixed Residential under OCP, the property offers potential for future multi-unit redevelopment. The existing 3,291 sq. ft. two-storey home features 4 bedrooms, 3 bathrooms, a basement and separate in-law suite accommodation, with multiple outbuildings. Sold "as is, where is". Potential rental income while exploring future redevelopment. R4/R4-A townhouse rezoning would be consistent with the OCP designation, subject to rezoning and City approvals. Preliminary density concepts suggest approximately 8 units, subject to due diligence and approval—strong nearby precedent.
How this price compares
This lot asks $56 per square foot of lot. That is 38% below the median of $90 across the 162 active lots VanPlex is showing in Chilliwack, and puts it 25 of 162 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
- $1,149,000
- Lot size
- 20,473 sqft
- Lot dimensions
- 96 x 216
- Frontage
- 96 ft
- Bedrooms
- 0
- Bathrooms
- 3
- Year built
- 1953
- MLS® area
- Chilliwack Proper East
- MLS® number
- R3183640
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Listing data via MLS®. Displayed for information only.