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For new mortgages, if the downpayment or equity is less then 20% of the purchase price, the amortization cannot exceed 25 years and the maximum purchase price must be less than $1,000,000.
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1616 Nanaimo Street, Vancouver
MLS®: R2306735
2577
Sq.Ft.
2
Baths
4
Beds
4,995
Lot SqFt
1949
Built
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Description
Priced to sell! Well kept original owner home with huge potential for redevelopment. Currently zoned C-1. City has approved usage up to 2.5 FSR. Lot will need to go through a private rezoning process and would be treated as C-2 development opportunity. Transit oriented location close to Commercial Dr. and only 13min drive to downtown Vancouver. Priced at $160/sf Buildable @ 2.5 FSR. House is in good shape and very well kept for the age. 3 bed up and 1 bed down. Potential suite can be added with own entry for downstairs. Buy and HOLD or buy and take it through the City for redevelopment. Assembly potential maybe possible in the future.
Taxes (2018): $4,355.71
