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$2,950,000
Est. payment /mo
5.96 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Upper Lantzville
MLS® Listing ID 1039366
Lot Size 5.960 Acres
Acres 5.96
Property Sub-Type Freehold
Property Description
Rare development opportunity in highly desirable Upper Lantzville. This prime 5.96-acre property has been largely cleared and offers municipal services at the lot line with excellent frontage on Harwood Drive. Extensive planning, due diligence, and entitlement work is already complete, positioning the site well ahead of typical early-stage opportunities and enabling a streamlined path to execution. The standout advantage is the R8-zoned Lot A frontage along Harwood Drive, which supports a smart phased development strategy that can proceed independently: Start with 14 high-end patio homes on the R8 portion for early revenue generation and strong cash flow, then deliver 9 single-family strata lots on the R1/R2 balance in subsequent phases. This creates an efficient, financeable, lower-risk approach aligned with strong local demand for quality ground-oriented housing in one of Vancouver Island's most supply-constrained markets. Key completed items include rezoning (R1/R2/R8), environmental and wetland assessments, stormwater management plan (updated February 2026), RAPR approval, survey, and park dedication satisfaction. Development Permit (DP) documentation is fully prepared and ready to submit, with community amenity contributions already made. An existing ~2,100 SF tenanted home provides potential interim income during early phases. An optional larger-scale opportunity exists with the adjacent property at 6685 Harwood Road. The adjacent property owners have expressed interest in a potential sale, which could enable a combined ~34-unit vision if acquired. However, the subject property delivers via the phased R8 lot, robust standalone value and development flexibility without requiring assemblage. This is a rare chance to secure well-advanced development land in a high-growth corridor. NDA required for qualified developers. Contact listing agents for the full confidential package. (id:24570)
Location
Province BC
Zoning Unknown
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Others
Ownership Freehold
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Listed by 460 Realty Inc. (NA)
NEARBY PROPERTIES FOR SALE
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