Description

For additional information, please click on Brochure button below. The # of FEE SIMPLE lots has now TRIPLED. The yield's also increased 5 X fold, from 30 homes (15 x duplex lots) to now 160 homes (40 x fourplex lots) !!! 160 homes under current new zoning. Price is only $ 56 k / per door, land cost !!! DP approved. Phase 1 is 35 lots for the first 140 homes. 40 x (fourplex lots @ $499k) = $20M less $2M remaining service costs is net $18M residual value. Even 40 x (lots @ $479k) = $19.2M less $2M is still net $17.2M. Land's for sale at less than half price @ only $ 8.97M OR, rezone as CD multifam strata for 350 - 500 units on the 18.7 AC prime property. Permits in place & trees already cleared, internal roads roughed in and $250k pond's already constructed. * Devp is ripe for 2025 Spring/ Summer construction at this great location. Courtenay has a significant housing shortage, and pent up demand for both LOTS & affordable homes and also rental units. 18.7 ACRES (in city limits) DEVELOPMENT PERMIT ** DP APPROVED**