3106 Washington Ave

Burnside, Victoria · MLS® 1042720

12,694 sq ft lot · Land · Vacant Land · 113 days on market

listed by Blair Veenstra, RE/MAX Camosun

realtor's description

BUILDER/INVESTOR ALERT! Prime flat 12,694 sqft site for a 4-detached strata house development. Huge advantage: ALL PLA requirements have been met, with the exception of the servicing. Great oppertunity for builders to finish servicing and build out 4 beautiful homes in a great area close to downtown Victoria. Each home is thoughtfully designed by Zebra Group (approx. 2,600 sqft) featuring 3 beds/3 baths on the main levels plus a 1-bed/1-bath legal suite, perfect for premium market resale. Unbeatable lifestyle location on a quiet, tree-lined street steps to the Gorge Waterway (swimming, kayaking, paddleboarding) & Arbutus waterfront o?-leash dog park. Stroll to a brand-new kids' park with a BMX track & basketball court. The Galloping Goose Trail is at your doorstep for a quick 10-min bike ride to Downtown Victoria, Uptown, or Mayfair Mall. Walk to Victoria's vibrant microbrewery district & Glo Europub. A rare, streamlined development opportunity with the design red tape cleared. Just service and build!

property details

type: Land, Vacant Land
lot: 12,694 sq ft
parking: 8
property tax: $7,732 / yr
days on market: 113
MLS®: 1042720

the market here

listed now: 106 days; median for 11 homes for sale; this one 113 days

Homes in Victoria. Sale prices register 1 to 3 months after a sale closes.

property tax by year

year	assessed	est. tax
2026	$1,574,000	$8,902

The listing shows $7,732 a year in property tax.

Estimate: the BC Assessment value times Victoria's residential tax rate for that year (Province of BC, local government statistics). Leaves out the home owner grant, parcel taxes and utility charges; the city's tax notice is the real figure.

monthly cost

$5,596/mo

Mortgage $4,951 · Tax $644

20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing.

estimated payment

$4,951/ monthly

loan $900,000

25-year amortization

down payment20% · $225,00020%+ down: no mortgage insuranceinterest rate4.44%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 30, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $585,384
property transfer tax: $20,500; BC general rate
cash to close: $245,500; down + PTT
total paid: $1,485,384

first-time buyernewly builtforeign national

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

suite rent: $1,920/mo
your cost after the suite: $4,004/mo; vs $5,771 without it

Suite rent / moDown payment %Rate %

Costs: mortgage $4,951 · tax $644 · insurance ~$175 · vacancy 3% · upkeep 5%.

Suite rent is today's market rent for a 1-bedroom in Victoria: CMHC's average there ($1,644) raised by what new tenants pay against everyone in the Victoria area, then down 1% with Victoria's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

BC rules for landlords

Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
Rent increases are capped once a year at the province's set amount. gov.bc.ca
The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

location

lot outline: 2,002 m² (21,549 sq ft) · PID 009-077-600. from ParcelMap BC; property lines are approximate, a survey is the legal boundary.

Burnside, VictoriaGoogle Maps ↗

schools

Catchment schools, Greater Victoria School District 61

Elementary Quadra Elementaryhomes in this catchment
1.5 km away · 3031 Quadra St, Victoria · 250-382-8296
Middle Lansdowne Middlehomes in this catchment
3.8 km away · 1765 Lansdowne Rd, Victoria · 250-598-3336
Secondary Victoria Highhomes in this catchment
3.1 km away · 1260 Grant St, Victoria · 250-388-5456

From the Greater Victoria School District 61's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.

Keep private notes and ratings on homes you're considering. (email only) and they follow you to every device.