REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,975,000
Est. payment /mo
New
942 Preston Way Langford, BC V9B 3B9
0.49 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1020443
Rental Info Unrestricted
Year Built 1927
Annual Tax Amount $13,663
Tax Year 2025
Lot Size 0.490 Acres
Acres 0.49
Property Sub-Type Land
Property Description
942 Preston Way offers a rare opportunity to acquire a professionally managed 10-unit multi-family property with strong holding income and significant redevelopment potential. The building is fully tenanted with long-term residents, providing consistent cash flow while future plans are advanced.
Recent improvements include the renovation of two 2-bedroom units, supporting stable operations and enhancing overall property condition. Current zoning (RM3) permits development of a residential apartment building of up to six storeys, offering an immediate pathway for medium-density construction.
Developers will also appreciate the potential for rezoning to CC1, which would allow for higher density and expanded mixed-use possibilities. With its steady income stream, proven management, and strong land-use flexibility, 942 Preston Way is a prime opportunity for a developer seeking a centrally located, growth-oriented project site.
Recent improvements include the renovation of two 2-bedroom units, supporting stable operations and enhancing overall property condition. Current zoning (RM3) permits development of a residential apartment building of up to six storeys, offering an immediate pathway for medium-density construction.
Developers will also appreciate the potential for rezoning to CC1, which would allow for higher density and expanded mixed-use possibilities. With its steady income stream, proven management, and strong land-use flexibility, 942 Preston Way is a prime opportunity for a developer seeking a centrally located, growth-oriented project site.
Location
Province BC
County Capital Regional District
Area La Jacklin
Zoning RM#
Rooms
Kitchen 0
Exterior
Total Parking Spaces 14
Building
Sewer Sewer Connected
Water Municipal
Others
Pets Allowed Yes
Tax ID 002-456-184
Ownership Freehold
Acceptable Financing Purchaser To Finance
Listing Terms Purchaser To Finance
Pets Allowed Aquariums, Birds, Caged Mammals, Cats, Dogs
Listed by Pemberton Holmes - Westshore
Get More Information
Search:
- Nanaimo Ocean Views HOT
- Nanaimo Ocean View Condos
- Nanaimo Mountain Views
- Nanaimo Waterfront Homes
- Nanaimo Income Properties
- Nanaimo Homes Under $550,000
- Nanaimo Homes Under $650,000 HOT
- Nanaimo Homes Under $750,000 HOT
- Nanaimo Foreclosures
- Nanaimo Price Reductions HOT
- Nanaimo Sales HOT
- Nanaimo Open Houses
Search Nanaimo Communities: