Size
4343 sqft
Lot size
18094 sqft
Street frontage
-
Possession
-
Price per sqft
$691
Taxes
$7,991.39 (2024)
Parking Type
-
Style
Single Family Re
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Description
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 !
Broker: RE/MAX City Realty
MLS®#: R3007412
Property details
Parking:
6
Parking type:
-
Property type:
Detached
Heating type:
Forced Air
Style:
Single Family Re
MLS Size:
4343 sqft
Lot front:
87 Ft
Listed on:
May 26, 2025
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Rooms
| Level | Name | Size | Features |
|---|---|---|---|
Main | Living Room | 16.00 x 29.00 ft | |
Main | Bedroom | 9.00 x 18.00 ft | |
Main | Storage | 9.00 x 3.00 ft |
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Instant estimate:
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$76,252
lower than listed pricei
High
$3,101,808
Mid
$2,923,747
Low
$2,833,551
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