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6238 Lanark Street (Off Market)

For Sale, USD 1,296,626

6238 Lanark Street, Vancouver, British Columbia, Canada

Property Type : Single Family Home

Property Style : N/A

Build Size : 2,850 ft² / 265 m²

Land Size : N/A

Bedroom : 7

Bathroom : 4

Half Bathroom : 0

MLS#: R2919615

Property Description

MULTI FACETED INVESTMENT ASSET !!! Quality built Vancouver Special style home with 3 suites in fantastic shape. Incredible holding asset that can generate a high stream of rental revenue or build. Versatile property that can allow for a luxury detached home, laneway house, duplex, or capitalize on new MULTIPLEX DEVELOPMENT allowances. Situated on 4071 SF this 33.02 X 123.41 FT lot is close to a host of amenities, & Sir Sanford Fleming. Call for full details.

LOCATION

Situated in the thriving Victoria community, recognized for its robust family-friendly environment, premier shopping, and acclaimed dining scene
Positioned along the vibrant Victoria Drive, offering a rich selection of Southeast Asian cuisine and iconic eateries
Close proximity to key retail corridors: Victoria, East 41st Avenue, Knight Street, and Fraser Street
Strategically located near top educational institutions such as Sir Sanford Fleming Elementary
Within walking distance to multiple green spaces, including Memorial South Park, Tecumseh Park, and Gordon Park

SCHOOLS

Sir Sandford Fleming Elementary
David Thompson Secondary

HOME

Bright and spacious 3,192 sq.ft of expansive living space
5 Bedrooms
4 Full bathrooms

LOT

4,074.99 sq.ft property
Property taxes $5,477.48 (2020)

DEVELOPMENT POTENTIAL

Multiplex Opportunity: Potential to develop 4-6 units at a 1.00 FSR, maximizing density
Duplex Strategy: Option for duplex development with stratification possibilities, enhancing marketability
Luxury Single-Family Home: Development at 0.6 FSR, including a premium laneway house at 0.25% FSR, catering to high-end buyers
Secondary Suite Addition: Build a new residence with an integrated legal secondary suite for diversified revenue streams

PROPERTY SPECIFICATIONS

Well-maintained Vancouver Special with a highly functional layout, ideal for immediate occupancy or rental income
Features two additional suites, offering multigenerational living or rental income potential
Prime 4,075 SF rectangular lot with back lane access, optimal for future development
Lot dimensions: 33.02 x 123.41 FT – a strategic development parcel
Infrastructure Highlights: Equipped with a metal roof ensuring durability, a newly replaced hot water tank (2023), and upgraded balconies with a new awning (2020)