12783 56 AVENUE, Surrey
$2,500,000
This 101,494.8 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.
Investment Alert!! Rare opportunity to own a corner lot in the highly desirable Panorama Ridge neighbourhood. This property features an existing home that is currently tenant-occupied, providing rental income while you plan and build your dream home or investment property. Offering significant frontage in a sought-after location, the property is just steps from public transit and Colebrook Elementary School and enjoys stunning ocean views. Buyers are encouraged to conduct their own due diligence regarding zoning, redevelopment potential, permitted uses, servicing, and all municipal requirements.
How this price compares
This lot asks $25 per square foot of lot. That is 84% below the median of $150 across the 529 active lots VanPlex is showing in Surrey, and puts it 21 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
- $2,500,000
- Lot size
- 101,494.8 sqft
- Lot dimensions
- 0 x
- Frontage
- 0 ft
- Bedrooms
- 3
- Bathrooms
- 1
- Year built
- 1928
- MLS® area
- Panorama Ridge
- MLS® number
- R3134121
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Listing data via MLS®. Displayed for information only.