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 July 12, 2025 at 01:40 PM (UTC)
Area Statistics
Listings on market:
58
Avg list price:
$1,648,400
Min list price:
$429,900
Max list price:
$6,596,000
Avg days on market:
43
Min days on market:
3
Max days on market:
228
Avg price per sq.ft.:
$710.93
These statistics are generated based on the current listing's property type
and located in
Government Road. Average values are
derived using median calculations. This data is not produced by the MLS® system.