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Island Highway 0.39-acre multi-family site sells for $1.8 million

OCP for the 17,330-square-foot lot in View Royal, B.C., just outside of Victoria, allows for mixed residential with up to 1:6:1 FSR.
Avison Young, Victoria, for Western Investor

Property type: Development land (multi-family)

Location: 286 Island Highway, View Royal, B.C.

Size of building: 4,500 square feet

Land size: 17,330 square feet

Land size in aces: 0.39 acres

Current zoning: P2-local institutional

Official Community Plan: Mixed-use residential

Potential floor space ratio: 1:6:1 FSR; up to four storeys

List price: $1.895 million

Sale price: $1.8 million

Brokerage: Avison Young, Victoria. 

Brokers: Dave Bornhold and Matt Pettinger