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Surrey development lot sold for double its assessed value

The 1.08 acres of land is slated for single-family housing and sold for $3.2 million
SUNNYSIDE HEIGHTS
 
Price: $3,208,888 
Lot Size: 1.08 acres
Property Type: Land
2016 B.C. Assessment Value: $1,536,000
City: Surrey
Province: B.C.
Name of Brokerage: Frontline Real Estate Services Ltd. 
 
A parcel of single-family development land in South Surrey has sold for double its assessed value at $3.2 million, Frontline Real Estate Services reports. 
 
The 1.08-acre land is designated for low-density residential development. Currently, there is a two-storey, single-family house on the property constructed in 1979. The property sold for above asking price, according to Frontline. Its most recent assessed value was $1.53 million.
 
The land is located at 1919 167 St., in the Sunnyside Heights area in Surrey. 
 
 
 

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