2483 Arken Terr
$999,900
Mill Bay
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About this home
Great live/work opportunity in Mill Bay! Custom built by the area’s original developers, this cozy West Coast inspired home has been lightly lived in for 25 years and offers an incredible opportunity for future development. Featuring 2-3 bedrooms, 2 baths, soaring vaulted ceilings and extensive custom woodwork, much of which was milled from trees on the property. Car enthusiasts and hobbyists will love the massive 1,200+ sq ft, 3-car garage with 12' ceilings, plus an attached carport. Cedar hardwood flooring, two new propane fireplaces, heat pump, 200amp service and a newer roof complete this unique, rural retreat. Set on a level, bright .99-acre lot with multiple potential build sites, this rare offering allows you to build your dream home while living on site (see RR-3 zoning for details). Close to Shawnigan Lake and just minutes from Mill Bay amenities. (id:65179)
Property details
From the listing's public record.
Lot size
0.99 acres
Year built
2001
Taxes
$4,424/yr
Zoning
Residential
Appliances
Heating
Cooling
Parking
Lot
Price history
1 recordEvery recorded listing event for this property — sales, relists, expired or withdrawn listings.
Oct 7, 2026
Listed $999,900
Active3 days on marketMLS 1051736
How this listing compares
Based on 66 sales in Mill BayMedian sold
$1,182,250
Avg days on market
48 days
Avg sale-to-list
97%
Avg $/sqft
$433
Price per square foot
Above area average
Current market in Mill Bay
Active (same type)
14
Pending
10
All active listings
30
Months of supply
2.5
Seller's market — 2.5 months of supply at the current sales pace.
Assessment
From publicly available property records.
Assessed value
$781,000
Homes in Malahat & Area sell at 112.5% of assessed value on average.
Based on 200 recent sales.
Local price trend
How Mill Bay has moved over the last decade.
Local price index (normalized) · 118 months
Recent nearby sales
12 sales858 Bucktail Rd
$1,100,000
3 bd · 3 ba · 3,904 sqft · $282/sqft · 71 days on market
Sold Aug 24, 2026 · 95.7% of list
2550 Seaview Rd
$1,475,000
4 bd · 3 ba · 4,546 sqft · $324/sqft · 8 days on market
Sold Aug 17, 2026 · 98.4% of list
2468 Arken Terr
$1,290,000
3 bd · 3 ba · 2,487 sqft · $519/sqft · 19 days on market
Sold Aug 17, 2026 · 99.6% of list
2554 Stubbs Rd
$1,276,000
4 bd · 3 ba · 2,892 sqft · $441/sqft · 14 days on market
Sold Aug 14, 2026 · 98.2% of list
1717 Arbutus Terr
$1,655,300
5 bd · 4 ba · 6,010 sqft · $275/sqft · 68 days on market
Sold Aug 14, 2026 · 97.4% of list
620 Kilmalu Rd
$810,000
2 bd · 1 ba · 1,043 sqft · $777/sqft · 15 days on market
Sold Aug 10, 2026 · 97.7% of list
943 Deloume Rd
$1,020,000
3 bd · 2 ba · 1,684 sqft · $606/sqft · 20 days on market
Sold Aug 10, 2026 · 98.1% of list
2484 Gibbs Pl
$1,240,000
3 bd · 3 ba · 2,883 sqft · $430/sqft · 21 days on market
Sold Aug 5, 2026 · 98% of list
612 Kilmalu Rd
$1,826,000
5 bd · 4 ba · 3,064 sqft · $596/sqft · 42 days on market
Sold Aug 5, 2026 · 93.6% of list
880 Pratt Rd
$1,140,000
4 bd · 3 ba · 3,030 sqft · $376/sqft · 54 days on market
Sold Aug 4, 2026 · 99.1% of list
2905 Wilkinson Rd
$1,111,000
4 bd · 2 ba · 2,234 sqft · $497/sqft · 15 days on market
Sold Jul 31, 2026 · 101.5% of list
371 Mccurdy Dr
$1,290,000
4 bd · 5 ba · 6,039 sqft · $214/sqft · 41 days on market
Sold Jul 30, 2026 · 90.5% of list
What would this home cost?
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Monthly mortgage
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Loan amount
$999,900 − $199,980
Down payment
20.0%
Property Transfer Tax
Legal / closing (est.)
Cash to close
$219,478
Down payment + PTT + GST + legal estimate.
Estimates only, based on current BC rates and thresholds. Not tax, legal, or financial advice. Property transfer tax exemptions have eligibility requirements — confirm with a lawyer or notary. GST rebates on new construction are not modelled here. Mortgage payment uses Canadian semi-annual compounding and excludes property tax, home insurance, and CMHC mortgage insurance.
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Interested in this home?
Ask a question or arrange a viewing — or get our full inside-agent valuation of this home.
Listed by Macdonald Realty Victoria