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 !
Address
8246 Burnlake Drive
List Price
$2,999,999
Property Type
Residential
Type of Dwelling
Single Family Residence
Style of Home
4 Level Split
Structure Type
Residential Detached
Area
Burnaby North
Sub-Area
Government Road
Bedrooms
6
Bathrooms
5
Half Bathrooms
2
Floor Area
4,343 Sq. Ft.
Main Floor Area
778
Lot Size
18094.11 Sq. Ft.
Lot Size Dimensions
87.2 x
Lot Size (Acres)
0.42 Ac.
Lot Features
Private, Recreation Nearby
Lot Size Units
Square Feet
Total Building Area
4343
Frontage Length
87.2
Year Built
1978
MLS® Number
R3007412
Listing Brokerage
RE/MAX City Realty
Basement Area
Finished
Postal Code
V5A 3K9
Zoning
R1
Ownership
Freehold NonStrata
Parking
Carport Multiple, Open, RV Access/Parking
Parking Places (Total)
6
Tax Amount
$7,991.39
Tax Year
2024
Site Influences
Balcony, Garden, Private, Private Yard, Recreation Nearby, Retirement Community, Shopping Nearby
Community Features
Retirement Community, Shopping Nearby
Exterior Features
Garden, Balcony, Private Yard
Appliances
Washer/Dryer, Dishwasher, Refrigerator, Stove
Board Or Association
Greater Vancouver
Heating
Yes
Heat Type
Forced Air, Natural Gas
Fireplace
Yes
Fireplace Features
Gas
Number of Fireplaces
2
Carport
Yes
Laundry Features
In Unit
Levels
Multi/Split
Number Of Floors In Property
4
Window Features
Window Coverings
View
Yes
View Type
Mountains
