2561 MCGILL STREET, Vancouver
$1,500,000
This 4,092 sqft property in Vancouver is a detached single-family home on a lot the new rules make suitable for a multiplex. In Vancouver, most single-family lots fall under the R1-1 zone, which allows a multiplex of up to six units on many lots, and more on larger or corner sites. The final count depends on lot area, frontage, and whether you keep any existing character home, so each lot should be checked against the city's rules.
Attention builders, investors and dream home buyers! Exceptional opportunity on a level 4,092 sq. ft. lot with beautiful North Shore mountain views. This 2-level home has lot of updates including new furnace, hot water tank, roof., floors, paint and appliances. Generating over $4K per month in rental income. It offers excellent holding potential while you plan your future. Whether you're looking for a starter home, investment property or future custom build, this property provides outstanding flexibility. Located in a desirable family-friendly neighbourhood, enjoy nearby waterfront walking trails, parks, schools, easy access to Hwy 1 and downtown Vancouver, plus the convenience of being next to the PNE. A rare opportunity with strong income potential and future possibilities.
How this price compares
This lot asks $367 per square foot of lot. That is 18% below the median of $447 across the 758 active lots VanPlex is showing in Vancouver, and puts it 178 of 758 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
- $1,500,000
- Lot size
- 4,092 sqft
- Lot dimensions
- 33 x 124
- Frontage
- 33 ft
- Bedrooms
- 4
- Bathrooms
- 2
- Year built
- 1925
- Zoning
- R1-1
- MLS® area
- Hastings Sunrise
- MLS® number
- R3146568
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Listing data via MLS®. Displayed for information only. Zoning R1-1 stamped from the city record on 2026-07-25.