This prime 18,091 sqft development lot in Burnaby’s Government Road neighborhood offers exceptional potential for multi-family or subdivision projects, currently zoned R1 with a 3.0 FAR density (54,273 sqft buildable). The property, assessed at $2,557,000 ($2,292,000 land, $265,000 improvements), is priced below future value, with a minimum land valuation of $8.1M+ (18,091 sqft x 3.0 FAR x $150/sqft). Options include an 8-storey apartment development, subdivision into 8 luxury homes (est. $1.8M–$2.2M+ each), or 4 smaller homes, with rental income of $6,500/month. Nearby schools include Seaforth Elementary and Burnaby Mountain Secondary, and the area scores 82/100 for transit. Includes survey plans—ideal for developers or investors awaiting rezoning. Priced at $2,999,999.Act now !
Property Type:
Residential
Dwelling Type:
Single Family Residence
Home Style:
4 Level Split, Multi/Split
Ownership:
Freehold NonStrata
Year built:
1978
(Age: 47)
Living Area:
4,343 sq. ft.403 m2
Building Area - Total:
4,343 sq. ft.403 m2
Levels:
Multi/Split
Bedrooms:
6
(Above Grd: 6)
Bathrooms:
5.0
(Full:3/Half:2)
Taxes:
$7,991.39 /
2024
Lot Area:
18,094.11 sq. ft.1,681 m2
Lot Frontage:
87'2"26.6 m
Lot Details:
87.2 x
Outdoor Area:
Fenced, Garden, Balcony
Plan:
NWP44446
Construction Materials:
Frame Wood, Mixed (Exterior)
No. Floor Levels:
4.0
Floor Area Fin - Above Main:
1,460 sq. ft.136 m2
Floor Area Fin - Above Main 2:
800 sq. ft.74.3 m2
Floor Area Fin - Main:
778 sq. ft.72.3 m2
Floor Area Fin - Total:
4,343 sq. ft.403 m2
Fireplaces:
2
Fireplace Details:
Gas
Patio And Porch Features:
Patio, Deck
Parking Features:
Carport Multiple, Open, RV Access/Parking
Parking:
Carport Multiple, Open, RV Access/Parking
Parking Total/Covered:
6 / 6
Garden, Balcony, Private Yard
Garden, Laundry In Unit
Mountains
Retirement Community, Shopping Nearby
2
Window Coverings
Dishwasher, Refrigerator, Laundry In Unit
Washer/Dryer, Dishwasher, Refrigerator, Stove
In Unit
Window Coverings
Age Restrictions:
No
Tax Utilities Included:
false
Home Owners Association:
No
Land Lease:
No
Utilities:
Community, Electricity Connected, Natural Gas Connected
Electricity:
Yes
Sewer:
Public Sewer
View of building exterior featuring uncovered parking
Living area featuring a fireplace, hardwood / wood-style floors, a ceiling fan, and stairway
Living area with ceiling fan, wood finished floors, a large fireplace, recessed lighting, and wood walls
Garage with a ceiling fan and a textured wall
Living area featuring wood finished floors, a skylight, and a ceiling fan
Bathroom with toilet, double vanity, a textured ceiling, tile walls, and a wainscoted wall
Living room featuring a skylight and wood finished floors
Kitchen featuring black fridge with ice dispenser, washing machine and clothes dryer, a textured wall, brown cabinets, and white microwave
Dining space with ceiling fan, wood-type flooring, arched walkways, and a textured wall
Living area featuring wood walls, wood finished floors, and a fireplace
Basement featuring wood finished floors and washer / dryer
Living area featuring wood finished floors, a ceiling fan, and stairs
Dining room with wood finished floors
Kitchen featuring freestanding refrigerator, black gas range, a ceiling fan, under cabinet range hood, and brown cabinetry
Kitchen with freestanding refrigerator, ceiling fan, brown cabinetry, tasteful backsplash, and a sink
Dining space featuring lofted ceiling, rail lighting, and light tile patterned flooring
Kitchen featuring appliances with stainless steel finishes, brown cabinets, vaulted ceiling, a ceiling fan, and light wood-style floors
Bedroom with wood finished floors, a ceiling fan, and baseboards
Bedroom featuring access to outside, wood finished floors, and a textured ceiling
Bedroom with wood finished floors, a ceiling fan, and baseboards
Bedroom featuring access to exterior, a ceiling fan, and a textured ceiling
Kitchen featuring black refrigerator with ice dispenser, ceiling fan, lofted ceiling, and wood finished floors
Bedroom with wood finished floors, a ceiling fan, and a closet
Bathroom with tile walls, a textured ceiling, a stall shower, toilet, and vanity
Data was last updated May 31, 2025 at 09:40 PM (UTC)
Area Statistics
Listings on market:
47
Avg list price:
$818,000
Min list price:
$499,000
Max list price:
$6,596,000
Avg days on market:
38
Min days on market:
2
Max days on market:
264
Avg price per sq.ft.:
$741.03
These statistics are generated based on the current listing's property type
and located in
Government Road. Average values are
derived using median calculations.