1256 Walnut St Victoria, BC V8T 1N6

Unlock the dual advantage: live, rent, and/or build. This solid 3-bed, 1-bath bungalow in Fernwood delivers a lovely home while positioning you for future redevelopment. Recent upgrades — 200-amp panel, vinyl windows, heat pump, gas fireplace — make it move in ready now. The detached workshop/garage (built 2011) adds flexibility for parking, storage, and more! Set on a large 6,057 sq ft lot with generous frontage and multiple parking spots, this property is a diamond-in-the-rough for developers and priced well below assessed value. Whether you're planning a renovation, infill home, or multifamily, you can hold and generate cash flow in the meantime. Nestled steps from Fernwood Square's cafés, theatres, parks, and within minutes to downtown, this is rare strategic real estate — a value play today with significant upside for tomorrow.