689 Shawnigan Lake Road
Development Level: Built
Basement: Yes, Crawl
Size: 3,900 sq. ft.
Lot Type: Irregular
Year Built: 1995
Taxes: $4,608.00 CAD (2015)
MLS® #: 375644
This is an excellent opportunity to purchase a 40 acre piece of land in the popular Shawnigan Lake area of Victoria. This land can be a lot of things. Currently it is zoned F1 which allows for the 2 homes that are now on the property, But you could easily rezone the property to I1 which allows for the land to be sub-divided into 2 acre parcels. Imagine 19 -2 acre fenced storage lots that you rent out for 500.00 a month, people can store a lot of things in a fenced 2 acre storage area. 500 a month x 19 lots is 9,500 a month in revenue. Your taxes are only 6,000 annually. 9,500 a month x 12 months = 114,000.00 a year
Lease out the rental bins for 10 years at 1,140,000 or even 20 years at 2,280,000 and then either develop the land into an industrial park or sell the land for large profits. I can only imagine what 40 acres in the Shawnigan Lake area will be worth 20 years from now.
Call Lew Poulin , Realtor, Pemberton Holmes Real Estate @ 250 507 1546
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Pemberton Holmes Realty
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