This prime 18,091 sqft development lot in Burnaby´s Government Road neighborhood offers exceptional potential for multi-family or subdivision projects, currently zoned R1 with a 3.0 FAR density (54,273 sqft buildable). The property, assessed at $2,557,000 ($2,292,000 land, $265,000 improvements), is priced below future value, with a minimum land valuation of $8.1M+ (18,091 sqft x 3.0 FAR x $150/sqft). Options include an 8-storey apartment development, subdivision into 8 luxury homes (est. $1.8M-$2.2M+ each), or 4 smaller homes, with rental income of $6,500/month. Nearby schools include Seaforth Elementary and Burnaby Mountain Secondary, and the area scores 82/100 for transit. Includes survey plans-ideal for developers or investors awaiting rezoning. Priced at $2,999,999.Act now ! (id:58426)
| MLS® Number | R3007412 |
| Property Type | Single Family |
| AmenitiesNearBy | Recreation, Shopping |
| Features | Private Setting |
| ParkingSpaceTotal | 6 |
| ViewType | View |
| BathroomTotal | 5 |
| BedroomsTotal | 6 |
| Amenities | Laundry - In Suite |
| Appliances | All |
| ArchitecturalStyle | 4 Level |
| BasementDevelopment | Finished |
| BasementFeatures | Unknown |
| BasementType | Unknown (finished) |
| ConstructedDate | 1978 |
| ConstructionStyleAttachment | Detached |
| FireplacePresent | Yes |
| FireplaceTotal | 2 |
| Fixture | Drapes/window Coverings |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| SizeInterior | 4343 Sqft |
| Type | House |
| RV |
| Acreage | No |
| LandAmenities | Recreation, Shopping |
| LandscapeFeatures | Garden Area |
| SizeFrontage | 87 Ft ,2 In |
| SizeIrregular | 18094.11 |
| SizeTotal | 18094.11 Sqft |
| SizeTotalText | 18094.11 Sqft |
https://www.realtor.ca/real-estate/28369819/8246-burnlake-drive-burnaby
Contact us for more information
Naomi Wang
Personal Real Estate Corporation
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