Downtown Abbotsford residential development land sold for $16 million

An impressive 19 acres of land with multi- and- single-family home potential as sold for nearly $850K per acre

for Western Investor
July 20, 2017

pine street
A sizeable chunk of residential development land has been sold for $16 million, Frontline Real Estate reports. 
The property is located in Abbotsford’s historic downtown area. The land measure 19 acres (15 acres net usable) and has potential for a mix of residential-type development such as townhomes, condos and single family. The land sold for approximately $842,105 per acre and nearly $6 million above its most recent assessed value. 
The property is located at 33765 Pine St., Abbotsford.


Price: $16,000,000
Lot Size: 19 acres
Price/acre: $842,105
Property Type: Land
2016 B.C. Assessment Value: $10,053,000
Date of Sale: 07/14/2017
City: Abbotsford 
Province: B.C.
Name of Brokerage: Frontline Real Estate Services Ltd. 

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Todd is vice-president of commercial and industrial sales and leasing in the Fraser Valley.

Frontline Real Estate Services
#160 – 8612 201 Street
Langley, B.C. V2Y 0G9
Office: 604-676-4138

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