13240 108 AVENUE, Surrey
$2,599,000
This 8,712 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.
An exceptional opportunity for investors. Situated on an approx 8,712 sqft lot, the property is currently located within the R3 Urban Residential Zone is designated Mid-Rise 11 (mid 2) in the OCP. It offers an excellent future development potential. Ideally located with quick access to City Centre and just minutes from shopping, Skytrain, Rec centre, and etc. There is also potential for future rezoning to smaller lots in conjunction with neighbouring properties, adding further long-term value. An outstanding holding property with stable, positive rental income.
How this price compares
This lot asks $298 per square foot of lot. That is 99% above the median of $150 across the 529 active lots VanPlex is showing in Surrey, and puts it 504 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
- $2,599,000
- Lot size
- 8,712 sqft
- Lot dimensions
- 66 x 132
- Frontage
- 66 ft
- Bedrooms
- 3
- Bathrooms
- 1
- Year built
- 1957
- MLS® area
- Whalley
- MLS® number
- R3153407
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Listing data via MLS®. Displayed for information only.