Exceptional development & investment opportunity in the heart of Langford, BC—Canada’s fastest-growing city. This 0.49-acre (21,344 sf) flat, rectangular lot sits in the city Centre with RM3 zoning permitting up to 6 storeys, and strong potential to rezone to CC1 for higher density and mixed-use possibilities. The property features a well-maintained 10-unit apartment building with long-term tenants, generating over $110,000 annually. Unit mix includes bachelor, 1-bed & 2-bed suites. A professional management team is already in place, supported by 15 on-site parking stalls and multiple recent updates. Walking distance to schools, parks, shopping malls, transit and major retailers including Costco, Home Depot, superstore, Walmart & more. Ideal as a stable income-producing asset with extraordinary future redevelopment upside. Perfect for both investors & developers looking for a prime Langford city-centre location.
Address
942 Preston Way
List Price
$2,975,000
Property Type
Residential
Type of Dwelling
Land
Transaction Type
Sale
Area
Langford
Sub-Area
La Jacklin
Lot Size
21344.4 Sq. Ft.
Lot Size (Acres)
0.49 Ac.
Year Built
1927
MLS® Number
1020443
Listing Brokerage
Pemberton Holmes - Westshore
| Pemberton Holmes - Sooke
| Pemberton Holmes Ltd.
Postal Code
V9B 3B9
Tax Amount
$13,663.67
Tax Year
2025