823 QUEENS AVENUE, New Westminster
$2,500,000
This 3,300 sqft property in New Westminster is a detached single-family home on a lot the new rules make suitable for a multiplex. New Westminster follows the provincial small-scale housing rules, so most single-family lots allow three to four homes, and up to six near frequent transit. Heritage character adds a design step on some streets.
Prime holding and redevelopment opportunity in New Westminster. Currently improved with a single-family home, this property is designated M_RLM (Residential – Limited Mid-Rise) in the Official Community Plan and is located within the Transit-Oriented Area (Tier 3). OCP supports consideration of mid-rise residential development of up to 8 storeys, subject to City approvals and rezoning. An excellent opportunity for developers to acquire this property as a standalone investment or explore the potential for a land assembly with neighbouring properties. Centrally located close to transit, parks, schools, shopping and amenities. Buyer to verify all development potential with the City of New Westminster.
How this price compares
This lot asks $758 per square foot of lot. That is 218% above the median of $238 across the 111 active lots VanPlex is showing in New Westminster, and puts it 109 of 111 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
- 3,300 sqft
- Lot dimensions
- 0 x 0
- Frontage
- 0 ft
- Bedrooms
- 3
- Bathrooms
- 2
- Year built
- 1950
- MLS® area
- Uptown NW
- MLS® number
- R3146789
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Listing data via MLS®. Displayed for information only.