About This Property
Great central location for investors or builders! Excellent investment property with 7986sqft (66' x 121') land size in the Centre of Richmond with TRL1 zoning for townhouse development. Lots of potential future development located in the City Centre of Richmond. The City of Richmond already designated this area as Urban Centre T5 (25 meters height) land use which permitted uses for Mixed Multiple Family Residential (e.g. High Rise building or Residential/Commercial use, Institutional, Recreation, Hotel, Office, Community use up to 2.0 FAR in density. Currently with an excellent tenant. Please do not disturb the tenant. Property sold As-Is, Where-Is. (id:64973)
At $1,558 per square foot, this Richmond property is competitively priced compared to the local market average of $1,650 per square foot. The sizable 7,986-square-foot lot size and TRL1 zoning make this an attractive option for developers seeking a prime redevelopment opportunity in the heart of Richmond's City Centre. This property is best suited for real estate investors or developers who can capitalize on the significant upside potential offered by the TRL1 zoning and the City of Richmond's designation of the area as an Urban Centre T5 zone, which permits high-rise residential or mixed-use development.
Property Details
Location
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