753 E 55th Ave

Owner is motivated, price to sell! asking bellow BC assessment's land value! INVESTOR & BUILDER ALERT! MULTI-FAMILY ZONING possibilities under the City of Vancouver's new cfscmotion7 -Streamlining the Provision of Duplex and Multiplex Housing in R1-1 Zoning with allowable FSR 1.2-1.5 or currently SUB-DIVIDABLE 2 LEGAL CITY LOT with wide frontage rarely available to develop in this area.

Welcome to this prime investment opportunity located in the heart of South Vancouver. Built in 1967, this solidly constructed home is surrounded by older homes, making it an excellent candidate for land assembly. The property offers a wide frontage, presenting multi-family zoning possibilities or potential for sub-division into 2 great size lot and/or 8 unit multiplex development potential. The house sits on a substantial 7900 square foot lot. Its elevated position would provides beautiful southern views of Richmond and Fraser river.

Currently this solid and well maintained home generates over $5,000 in rental income, with the potential to earn an additional $5,000 from the main floor rental. The home is owner-occupied and has undergone significant renovations in 2022, including updates to the water tank, some windows, floors, appliances, majority of the electrical systems, furnace, gutters and down pipes, and the basement. Over $100,000 has been invested in these upgrades, ensuring the property is perfectly livable or ready to continue generating rental income until you decide on your next steps.

This highly sought-after rental area is conveniently located near the bustling Fraser Street, Main Street, and 49th Avenue Punjabi Market. You'll find yourself close to Langara College, Sunset Community Centre, Marine Gateway, and other essential amenities. The area is well-served by multiple bus lines and SkyTrain stations, providing easy access to all parts of Vancouver, Richmond and everywhere else by major highways.

Don't miss out on this rare investment opportunity in a prime location. Whether you're looking to develop, live in, or continue generating rental income, this property offers endless possibilities. Act now and secure your future in one of Vancouver's most desirable areas!