JONATHAN YU Personal Real Estate Corporation

Description

Introducing a rare opportunity to own a vast 2.84-acre parcel of land in the highly sought-after neighborhood of Upper Lynn Valley, North Vancouver, BC. This unique piece of land is currently zoned RS3, with the potential to subdivide it into a 13 single family lot subdivision. With a successful rezoning application this site has huge potential for a multi-family development. The current owners have comprehensive architectural plans for a 164 unit development, consisting of affordable housing units, condos and townhouses. These meticulously crafted plans are in-line with the Government’s mandate to increase housing and affordability in the District of North Vancouver. The proposed multi-family development has the potential to be a 100% rental model. 3613 Sykes Road, which is an additional 6,155sqft lot, is being sold in conjunction with 875 Wellington Drive and provides an access point to connect utilities for the future subdivision. The property underwent a substantial renovation in 2019 and is currently rented on a month-to-month basis. 875 Wellington Dr & 3613 Sykes Rd can be found in Upper Lynn Valley, North Vancouver and bordered by Upper Lonsdale to the West. The location benefits from being encompassed by residential developments, with single-family homes to the North along Wellington Drive, East by Sykes Road, and townhouses at the Laura Lynn Townhouse strata development to the South & West. There’s an existing driveway providing access to the site from Wellington Drive. The site benefits from being just a 3 minute car ride or 20 minute walk from Lynn Valley Centre. It’s conveniently positioned between two bus routes, with a mere 9 minute walk to the West and an 11 minute walk to the East. Highway 1 is easily accessible and just a 5 minute drive away, enabling swift connections to Downtown Vancouver in just 30 minutes and Whistler 1 hour 30 minutes. Lynn Valley is known for its mountain village charm, its abundance of recreational areas and is cherished as one of the district’s long-standing and most loved neighborhoods.