** ATTENTION Smart Buyers! ** Set on a large flat 0.22-acre lot with sought-after street and laneway access, this 5-bedroom, 2-bathroom home offers exceptional potential in one of Victoria’s most coveted neighbourhoods. The flexible layout includes a bright, walk-out 2-bedroom lower level—ideal for extended family, guests, or a mortgage helper.
A standout feature is the rare dual access, presenting an excellent opportunity for additional accommodation. With the introduction of the new SSMUH (Small-Scale Multi-Unit Housing) initiative, this property is a perfect candidate for the construction of a carriage house with a double garage on the lower level and a stylish 1- or 2-bedroom suite above. This potential secondary dwelling offers outstanding flexibility—whether for multigenerational living, guest quarters, or as a high-demand rental unit. Buyers are encouraged to consult the District of Oak Bay for current zoning and development possibilities.
Located just steps from charming Estevan Village and beautiful Willows Beach, this property offers the best of Oak Bay living, with boutique shops, cozy cafés, and scenic seaside strolls right at your doorstep. You’re also minutes from Uplands and Victoria Golf Clubs, Oak Bay Marina, Oak Bay Village, Cadboro Bay Village, and UVIC.
Situated within the catchment of some of the city’s top-rated schools—including Willows Elementary, Monterey Middle, and Oak Bay High—all easily walkable or bikeable—this home is ideal for families seeking both lifestyle and convenience.
Well-maintained and full of promise, this is a rare opportunity to renovate, reimagine, or build new in an established, prestigious setting. Whether you’re searching for a family home, an investment property, or the perfect site for your dream build with future expansion options, this property delivers exceptional value in a true blue-chip Oak Bay location.
Address
2536 Thompson Ave
List Price
$1,790,000
Property Type
Residential
Type of Dwelling
Single Family Residence
Style of Home
Contemporary
Transaction Type
sale
Area
Oak Bay
Sub-Area
OB Estevan
Bedrooms
5
Bathrooms
2
Floor Area
3,044 Sq. Ft.
Lot Size
9729 Sq. Ft.
Lot Size (Acres)
0.22 Ac.
Year Built
1942
MLS® Number
996524
Listing Brokerage
eXp Realty
Basement Area
Finished, Full, Walk-Out Access
Postal Code
V8R 3L3
Tax Amount
$7,625.96
Tax Year
2024
Features
Carpet, Forced Air, Natural Gas
Amenities
Central Location, Fencing: Partial