Explore the potential of this mixed residential development site in the picturesque View Royal! Encompassing 14,810 sq/ft, this property boasts a two-level home with recent updates. Positioned in a dynamic, growing area amidst new condominium constructions and nestled between a modern townhouse development and an older one, this site holds promise. The existing dwelling serves as an excellent investment, featuring two levels that cater to both rental income and potential owner occupancy. Conceptual plans are available for a 4-story apartment or a 10-townhouse development, adding versatility to the property. Currently, the home is a lucrative holding asset, generating $3,500/month in rental income. Situated in a highly walkable location, the property is just steps away from the 4 Mile Pub, parks, the galloping goose, schools, and the ocean. Whether you're heading to Vic General, CFB Esquimalt, or shopping destinations. Recent upgrades gas heating, foundation waterproofing, electrical.

Interior Features Of 229 Island, View Royal, View Royal

Dining/Living Combo, Soaker Tub

Appliances Included:

F/S/W/D

Exterior Features Of 229 Island, View Royal, View Royal

Fenced

Other Structures At 229 Island, View Royal, View Royal

Storage Shed

Lot Features Of 229 Island, View Royal, View Royal

Central Location, Cleared, Easy Access, Level, Near Golf Course, Recreation Nearby, Rectangular Lot, Shopping Nearby, Sidewalk

Location Features:

Transit Nearby

Listed by Fair Realty.