12679 97A AVENUE, Surrey
$1,449,000
This 7,205 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.
This home features 8 bedrooms and 3 bathrooms and has been well maintained. Inside, you'll discover a spacious living area, a fully enclosed kitchen overlooking the dining room and 3 sizable bedrooms. Outside, delight in the fenced backyard, ideal for children and hosting gatherings. This property offers an attractive opportunity for investors as the entire property is tenanted for $4,900 a month. If you are looking to occupy the above, the two 2-bedroom rental suites are generating a combined income of $2,500 monthly. Former grow-op, underwent remediation in 2009.Conveniently located near schools, shopping centre's, parks, walking distance to transit and has a back lane access. Great property to build a six-plex or duplex with a laneway home.
How this price compares
This lot asks $201 per square foot of lot. That is 34% above the median of $150 across the 526 active lots VanPlex is showing in Surrey, and puts it 438 of 526 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
- $1,449,000
- Lot size
- 7,205 sqft
- Lot dimensions
- 60 x IRR
- Frontage
- 60 ft
- Bedrooms
- 8
- Bathrooms
- 3
- Year built
- 1958
- MLS® area
- Cedar Hills
- MLS® number
- R3093734
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Listing data via MLS®. Displayed for information only.