8246 Burnlake Drive Burnaby, British Columbia V5A 3K9

$2,999,999

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:46156)

Property Details

MLS® Number	R3007412
Property Type	Single Family
Amenities Near By	Recreation, Shopping
Features	Private Setting
Parking Space Total	6
View Type	View

Building

Bathroom Total	5
Bedrooms Total	6
Amenities	Laundry - In Suite
Appliances	All
Architectural Style	4 Level
Basement Development	Finished
Basement Features	Unknown
Basement Type	Unknown (finished)
Constructed Date	1978
Construction Style Attachment	Detached
Fireplace Present	Yes
Fireplace Total	2
Fixture	Drapes/window Coverings
Heating Fuel	Natural Gas
Heating Type	Forced Air
Size Interior	4,343 Ft2
Type	House

Parking

R V

Land

Acreage	No
Land Amenities	Recreation, Shopping
Landscape Features	Garden Area
Size Frontage	87 Ft ,2 In
Size Irregular	18094.11
Size Total	18094.11 Sqft
Size Total Text	18094.11 Sqft

https://www.realtor.ca/real-estate/28369819/8246-burnlake-drive-burnaby