This centrally located 8,140 sq ft lot offers exceptional versatility and presents a rare opportunity for first-time buyers, renovators, or developers. Listed at assessed value, it stands out as one of the most compelling price-to-potential properties in Saanich East. The existing 2-bedroom, 1-bath home is cozy, functional, and ideal for buyers looking to enter the market and build equity over time. With a little imagination and effort, it could be transformed into a charming cottage-style home—and you can live in it while you renovate. It also makes a great holding property, with solid rental potential while plans are developed for future use. The lot’s generous size and level topography make it a strong candidate for small-scale multi-unit housing (SSMUH) under Saanich’s evolving guidelines. Set on a quiet street between McKenzie and Quadra, the location offers easy access to schools, shopping, UVic, and major transit routes—all without the disruption of highway noise. Whether you're dreaming of a personalized renovation, securing your first home, or exploring development potential, this property delivers outstanding value and opportunity.