Rare opportunity with this charming rancher located in Victoria just 300ft from Oak Bay. Level 50’x106’ property backing into Redfern park. Close to Red Barn Market, Xmas Truck Parade/events, Oak Bay Rec, Save-on-Foods and within walking distance to excellent schools such as Willows, Monterey and Oak Bay High. Great long term rental holding property with zero vacancy, or development opportunity. No easements or covenants on title to restrict building footprint or development. With a single month to month tenancy paying $40,800+ utilities annually (eligible for 3.5% rental increase), this is a secure income stream that doesn’t rely on unauthorized suites or conflict management between multiple tenants. With the land’s tax assessed value alone surpassing $1M, the upside potential is significant. Upgrades in 2021 to support longer term rental viability, see supplements for list of changes. This lot and location doesn't come up often at this price, book your showing today! (id:47421)
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Bedrooms
3
Bathrooms
1
Total Area
1,091 ft2
Features
Level lot, Partially cleared, Other, Rectangular
Listing Contract Date
2024-03-14
Municipal ID
005-616-999
Ownership Type
Freehold
Plan
VIP7965
Property Type
Single Family
Structures
Shed
Transaction Type
For sale
Zoning
Residential
Building
Constructed Date
1950
Cooling Type
None
Fireplace Present
Yes
# of Fireplaces
1
Heating Fuel
Electric
Heating Type
Baseboard heaters
Total Finished Area
943 sqft
Type
House
Rooms
Room
Level
Dimensions
Notes
Laundry room
Main level
8 ft x 5 ft
Bathroom
Main level
7 ft x 7 ft
Bedroom
Main level
9 ft x 9 ft
Bedroom
Main level
12 ft x 8 ft
Bedroom
Main level
11 ft x 10 ft
Living room
Main level
15 ft x 15 ft
Kitchen
Main level
14 ft x 11 ft
Other
Auxiliary Building
14 ft x 10 ft
Land
Total Size
5300 square feet
Size of Irregular Land
5300
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