12627 58 AVENUE, Surrey
$998,000
This 7,937 sqft property in Surrey is a detached single-family home on a lot the new rules make suitable for a multiplex. Surrey follows the provincial small-scale housing rules, so most single-family lots allow three to four homes, and up to six near frequent transit. Surrey's larger lots and lower land prices often lift the number of units that pencil out.
Best-priced opportunity on a nearly 8,000 sqft lot in a prime Surrey location. This basement-entry home features 3 bedrooms and 2 bathrooms on the main floor, plus a 1-bedroom suite below. The basement is currently rented for $1,600 per month on a month-to-month basis, offering immediate rental income. The spacious backyard includes a large deck and potential for duplex or future redevelopment, subject to City approval and buyer verification. Conveniently located near schools, parks, transit, and everyday amenities. Ideal for investors, builders, or families seeking long-term value. Updates include main-floor renovations completed in 2017–2018, basement walls, flooring, and kitchen renovated in 2017, and a new hot water tank and appliances installed between 2020 and 2021.
How this price compares
This lot asks $126 per square foot of lot. That is 16% below the median of $150 across the 529 active lots VanPlex is showing in Surrey, and puts it 174 of 529 from cheapest to most expensive. Asking prices only, taken from the current MLS® feed.
Land price per square foot is only one input. Frontage, lane access, slope, and how many homes the zoning actually allows decide what a lot is worth to a builder.
Lot and property details
- Price
- $998,000
- Lot size
- 7,937 sqft
- Lot dimensions
- 62 x
- Frontage
- 62 ft
- Bedrooms
- 4
- Bathrooms
- 3
- Year built
- 1970
- MLS® area
- Panorama Ridge
- MLS® number
- R3123774
Want the PlexScore and return on equity for this lot? Get PlexPro.
Listing data via MLS®. Displayed for information only.