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731 Princess Ave Victoria, British Columbia V8T 1K5

5 Bedroom 2 Bathroom 1493 sqft
None Baseboard Heaters

$625,000

This is a rare opportunity to own a piece of Victoria's downtown core with redevelopment potential, a great holding property or an excellent location to run your own business. The zoning allows for live/work, light industry, transient accommodations, office, and limited retail use and is one of the last undeveloped properties in an area already surrounded by other businesses. Properties like this are rare and the savvy investor will be able to make money here. This 5-bedroom property went through an extensive renovation in 2015 including a new foundation and roof. Currently, the rooms are rented individually and there is potential for more revenue depending on the purchaser's plans. Collect rent while you finalize your development plans or keep this in your long-term rental portfolio. Extremely low maintenance backyard and great tenants make this a low effort, high return rental. Please note: you cannot get a conventional residential mortgage for this property due to the zoning. (id:18492)

Property Details

MLS® Number 922758
Property Type Single Family
Neigbourhood Downtown
Features Rectangular
Parking Space Total 2
Plan Vip8

Building

Bathroom Total 2
Bedrooms Total 5
Constructed Date 1910
Cooling Type None
Heating Fuel Electric
Heating Type Baseboard Heaters
Size Interior 1493 Sqft
Total Finished Area 1493 Sqft
Type House

Parking

Stall

Land

Acreage No
Size Irregular 2352
Size Total 2352 Sqft
Size Total Text 2352 Sqft
Zoning Type Industrial

Rooms

Level Type Dimensions
Second Level Bedroom 16' x 9'
Second Level Bedroom 14' x 10'
Main Level Kitchen 15' x 12'
Main Level Bathroom 4-Piece
Main Level Bedroom 11' x 10'
Main Level Bedroom 10' x 9'
Main Level Bathroom 3-Piece
Main Level Living Room 14' x 13'
Main Level Primary Bedroom 16' x 11'
Main Level Laundry Room 6' x 5'
Main Level Hall 7' x 5'

https://www.realtor.ca/real-estate/25251899/731-princess-ave-victoria-downtown

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Saira Reynolds
Personal Real Estate Corporation

(778) 432-4611
(800) 432-4611
www.modernrev.com/
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https://ca.linkedin.com/in/sairawaters/
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Royal LePage Coast Capital - Oak Bay
2541 Estevan Avenue, V8r 2s6
Victoria, British Columbia V8R 2S6

(250) 592-4422
(800) 263-4753
(250) 592-6600
www.rlpvictoria.com

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April 24 2023 06:26:35

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