$ 2,840,000 – 485 Head Street

0 BR / 0 BA Other – Esquimalt

Water Front Property with C7-A Zoning. C7-A Zoning allows a mix of commercial & residential uses compatible with the West Bay including Tourist Accommodation.This is the only location in Esquimalt w/this zoning remaining. Site coverage is Currently limited to 40% but can build up to 11.7 meters (38.4 ft). With new provincial regulation eliminating most short term rental accommodations, this zoning allows the owner to capitalize on less competition & the projected increase in overnight rates after the ban comes into place in May 2024 realizing good holding income while deciding what to do with the property long term. Properties at 474 Head St have been rezoned into a Comprehensive Development Zone (CD-98) w/allowable FSR of 1.3 & no site coverage restrictions aside from required setbacks Properties at 464 & 460 Head St have been rezoned to ComprehensiveDevelopmentZone(CD 103) w/allowable FSR of 1.32 & no site coverage restrictions aside from required setbacks. (id:6769)