Investors and Developers Alert! Exceptional holding property with immediate revenue or prime development potential under missing middle on a rare 70-foot wide frontage lot on the Rockland/Fairfield boarder. This versatile 5-bed, 2-bath home features a layout perfect as a high-yield investment or a flexible multi-generational property. Live comfortably upstairs while using the lower level as a powerful mortgage helper. Step outside to enjoy a stunning, park-like backyard that offers a peaceful outdoor oasis. Alternatively, take advantage of the steady rental stream while you finalize design concepts and development plans for this expansive parcel. The property is currently tenanted, generating immediate cash flow of $4,900 per month. Situated in a prime, central location just minutes from transit, bike corridors, and local amenities, this is an unmatched opportunity for long-term holding or future development.
Address
1618 Richardson St
List Price
$1,349,900
Property Type
Residential
Type of Dwelling
Single Family Residence
Style of Home
Character
Transaction Type
Sale
Area
Victoria
Sub-Area
Vi Rockland
Bedrooms
5
Bathrooms
2
Floor Area
2,296 Sq. Ft.
Lot Size
11449 Sq. Ft.
Lot Size (Acres)
0.26 Ac.
Year Built
1956
MLS® Number
1047844
Listing Brokerage
Fair Realty
Basement Area
Full, Walk-Out Access, With Windows
Postal Code
V8S 1R4
Tax Amount
$7,935.20
Tax Year
2026
Features
Baseboard, Dining/Living Combo, Dryer, Electric, Oven/Range Electric, Range Hood, Refrigerator, Tile, Washer, Wood, Wood
Amenities
Balcony/Patio, Cleared, Fencing: Partial, Level, Serviced, Shopping Nearby, Sidewalk