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The # of FEE SIMPLE lots has now TRIPLED. The yield's also increased 5 X fold, from 30 homes (15 x duplex lots) to now 160 homes (40 x fourplex lots) !!!
160 homes under current new zoning.
Price is only $ 56 k / per door, land cost !!!
DP approved. Phase 1 is 35 lots for the first 140 homes.
40 x (fourplex lots @ $499k) = $20M less $2M remaining service costs is net $18M residual value.
Even 40 x (lots @ $479k) = $19.2M less $2M is still net $17.2M. Land's for sale at less than half price @ only $ 8.97M
OR, rezone as CD multifam strata for 350 - 500 units on the 18.7 AC prime property.
Permits in place & trees already cleared, internal roads roughed in and $250k pond's already constructed.
* Devp is ripe for 2025 Spring/ Summer construction at this great location. Courtenay has a significant housing shortage, and pent up demand for both LOTS & affordable homes.
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Listed by Easy List Realty
Data was last updated April 3, 2025 at 04:05 AM (UTC)
Area Statistics
Listings on market:
155
Avg list price:
$599,000
Min list price:
$41,900
Max list price:
$8,970,000
Avg days on market:
47
Min days on market:
1
Max days on market:
1,052
Avg price per sq.ft.:
$433.68
These statistics are generated based on the current listing's property type
and located in
CV Courtenay City. Average values are
derived using median calculations.