956 Heywood Ave

Fairfield West, Victoria · MLS® 1052744

6,120 sq ft lot · Land · Vacant Land · 9 days on market

listed by Austin Cope, Colliers

realtor's description

Rare development opportunity directly across from Beacon Hill Park, one of Victoria’s finest green spaces, with boutique Cook Street Village shopping just behind. 956 Heywood Avenue is a 6,120 SF rectangular lot measuring 51' x 120', zoned General Residential District (GRD-1 PGA) and designated a Priority Growth Area in the City of Victoria OCP. In-place zoning permits multi-unit residential up to six storeys, with a base FSR of 1.6 (approx. 2.7 with density bonuses) and 55% maximum lot coverage, letting you bring your own mid-rise vision under existing zoning. Full municipal services to the property line. A previous five-unit townhouse project received Development Permit approval (since lapsed). Surprisingly private for orientation, with a Walk Score of 93. Priced well below the 2026 assessed value. Land Value only, though the existing home offers potential to be revitalized as a holding property or residence while plans proceed.

property details

type: Land, Vacant Land
lot: 6,120 sq ft
parking: 0
property tax: $7,829 / yr
days on market: 9
MLS®: 1052744

the market here

listed now: 105 days; median for 11 homes for sale; this one 9 days

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

property tax by year

year	assessed	est. tax
2026	$1,377,000	$7,788

The listing shows $7,829 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

$4,988/mo

Mortgage $4,335 · Tax $652

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

estimated payment

$4,335/ monthly

loan $788,000

25-year amortization

down payment20% · $197,00020%+ 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: $512,536
property transfer tax: $17,700; BC general rate
cash to close: $214,700; down + PTT
total paid: $1,300,536

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.

location

lot outline: 569 m² (6,125 sq ft) · PID 009-324-402. from ParcelMap BC; property lines are approximate, a survey is the legal boundary.

Fairfield West, VictoriaGoogle Maps ↗

schools

Catchment schools, Greater Victoria School District 61

Elementary South Park Elementaryhomes in this catchment
500 m away · 508 Douglas St, Victoria · 250-382-5234
Middle Central Middlehomes in this catchment
1.3 km away · 1280 Fort St, Victoria · 250-386-3591
Secondary Victoria Highhomes in this catchment
1.9 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.

development nearby

Development permit for a 4 storey building
230 m away · 2025 · under review · 213-219 Vancouver Street
The City is reviewing a Delegated Development Permit application to construct a 4-storey, 10-unit Missing Middle corner townhouse. <br><br>Under the site’s existing zoning, the application may be permitted; however, it requires staff review against city policy/guidelines and a decision of the Director of Planning. This information is being shared to keep the community informed.

Applications filed with the city, active or decided in the last 3 years, measured from the listing's map pin. An application isn't an approval; the city's page has the current details. Source: City of Victoria development tracker.

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