12711 112A AVENUE, Surrey
$815,000
This 4,996 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.
New development opportunity for investors or a rare opportunity for first-time buyers. This property sits on a highly sought-after location in the neighborhood, with 5 minute walk to Scott Road SkyTrain Station that links the Surrey Central City shopping. Quick access to new major bridges and commuter routes into the city. The existing bungalow may require substantial repairs; therefore, the sale price reflects land values. This 5,000 sq ft lot offers unbeatable land value in Surrey. The current house could be renovated by a handy man, or removed for construction of a new dream home.
How this price compares
This lot asks $163 per square foot of lot. That is 9% above the median of $150 across the 529 active lots VanPlex is showing in Surrey, and puts it 315 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
- $815,000
- Lot size
- 4,996 sqft
- Lot dimensions
- 55 x
- Frontage
- 55 ft
- Bedrooms
- 2
- Bathrooms
- 1
- Year built
- 1949
- MLS® area
- Bridgeview
- MLS® number
- R3135165
Want the PlexScore and return on equity for this lot? Get PlexPro.
Listing data via MLS®. Displayed for information only.