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Colwood 1.48-acres sells for nearly $2M over assessed value

The land, with multi-family development potential on southern Vancouver Island, and close to Olympic View Golf Club and the Royal Bay community, sold for $2.85 million
568 Lartoria rd 404
Colliers, Victoria, B.C., for Western Investor

Property type: Land

Location: 568 Latoria Road,  Colwood, B.C.

Land size: 64,469 square feet

Land size in acres: 1.48 acres

Zoning: A1

Potential: Residential development with FSR 1.2 (floor space ratio)

BC Assessment value: $903,000

List price: $2.35 million

Sale price: $2.88 million

Date of sale: September 22, 2022

Brokerage: Colliers, Victoria

Brokers: Austin Cope, Dominic Ricciuti and Brandon Selina