Cordova Bay, Saanich · MLS® 1052842
5510
4,361 sq ft · 1.27 acres lot · House · Single Family · built 1967 · 9 days on market
listed by Brent McMahon, RE/MAX Camosun
This custom-built 1967 home was thoughtfully designed to take full advantage of the property's stunning views and exceptional setting. Whether you choose to renovate, redecorate or build your dream home, this is a truly unique estate property offering endless possibilities. Set on a private 1.27-acre lot in sought-after Cordova Bay, it combines ocean views, outstanding privacy and an unbeatable location just a short walk to the beach, McMinn Park and Broadmead. Perched on a sloping site, the main residence offers over 2,300 sq.ft. on the main level with 3 bedrooms, 2 bathrooms, and spacious living, dining and kitchen areas designed to frame sweeping views toward Mt. Baker. The 1,600 sq.ft. lower level includes an in-law suite with a separate entrance plus a large rec room for the main home. A hobbyist's dream, the property features a double garage with an attached garden room, a large detached workshop on the former horse paddock, abundant storage throughout, and a separate 1-bedroom guest cottage tucked privately among the beautiful treed upper portion of the property. Multiple accessory buildings provide excellent opportunities for a home-based business, studio, workshop or private office. Outdoor enthusiasts and gardeners will appreciate the established garden areas, greenhouse, mature trees and peaceful natural surroundings, creating a private retreat unlike any other. There's even a fenced tennis or sport court, while the expansive grounds still leave ample space to further customize the property to suit your lifestyle. A rare opportunity to own a private acreage where you can enjoy the existing improvements, create your ideal family estate, or design and build your forever home in one of Victoria's most desirable neighbourhoods. The adjoining 2.55-acre property is also separately offered for sale by Pemberton Holmes MLS1047886, providing an opportunity to acquire both properties and explore their combined development potential.
20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing.
Costs: mortgage $8,358 · tax $1,060 · insurance ~$175 · vacancy 3% · upkeep 5%.
Suite rent is today's market rent for a 1-bedroom in Saanich: CMHC's average there ($1,594) 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.
Catchment schools, Saanich School District 63
1.6 km away · 5238 Cordova Bay Rd, Victoria · 250-658-5315
2.7 km away · 751 Travino Lane, Victoria · 250-479-7128
700 m away · 4980 Wesley Rd, Victoria · 250-658-5221
From the Saanich School District 63'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.
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| year | assessed | est. tax |
|---|---|---|
| 2026 | $2,630,000 | $13,678 |
The listing shows $12,721 a year in property tax.
Estimate: the BC Assessment value times Saanich'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.
Houses in Saanich, registered sales in the last 6 months (BC Assessment) against each home's last asking price on the MLS®. Sale prices register 1 to 3 months after a sale closes.
lot outline: 5,062 m² (54,487 sq ft) · PID 000-182-397. from ParcelMap BC; property lines are approximate, a survey is the legal boundary.
Walkability 13/100 · Car needed for most errands
Within a 10 minute walk: 8 parks and playgrounds, 8 transit stops.
mihom score from OpenStreetMap places, by straight line distance.