12841 98 AVENUE, Surrey
$1,189,900
This 8,835 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.
Investors, builders, and first-time home buyers, this is a great opportunity to own an 8,835 sq ft lot in a prime Surrey location with strong development potential for a 4-plex or 6-plex (buyer to verify with the City of Surrey). The existing home is well kept and offers good rental income, with 3 bedrooms and 2 bathrooms upstairs, plus (3+1)-bedroom suites and an extra room downstairs that can be used as an office or additional rental space. The property is in a convenient area close to schools, shopping, and public transportation, making it attractive for tenants. With potential good rental income, this is a solid option for investors looking for both current income and future redevelopment potential. Call today to book a showing.
How this price compares
This lot asks $135 per square foot of lot. That is 10% below the median of $150 across the 529 active lots VanPlex is showing in Surrey, and puts it 198 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
- $1,189,900
- Lot size
- 8,835 sqft
- Lot dimensions
- 61 x 143
- Frontage
- 61 ft
- Bedrooms
- 7
- Bathrooms
- 4
- Year built
- 1956
- MLS® area
- Cedar Hills
- MLS® number
- R3124493
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Listing data via MLS®. Displayed for information only.