Lot 7 Marine Cres
$499,900
Cobble Hill
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About this home
Build with Confidence – Build-Ready Lot Near Maple Bay Marina | Offered Below Assessed Value Opportunity meets preparation on this exceptional build-ready lot, ideally located just minutes from the highly sought-after Maple Bay Marina. Offered at $499,900—below the current assessed value—this property allows you to skip many of the costly and time-consuming steps of preparing vacant land and start planning your dream home. Significant improvements have already been completed, including a professionally installed septic system (2021) valued at approximately $30,000, professional lot clearing (over $17,000 invested), a recent property survey, and a 2018 geotechnical report. Municipal water has been brought to the lot, with BC Hydro available nearby, making this an outstanding opportunity for buyers looking to build with confidence. The gently sloping property offers a partial ocean view from the upper portion of the lot, providing an ideal setting for a custom home designed to take advantage of the surrounding natural beauty. Flexible A5 zoning offers a variety of possibilities, while the location places you just a short walk from Maple Bay Marina, beaches, scenic hiking trails, and the vibrant waterfront community. Whether you're dreaming of a full-time residence, a West Coast retreat, or a long-term investment, this property combines preparation, location, and lifestyle in one exceptional package. Enjoy boating, kayaking, paddleboarding, hiking, and all that beautiful Maple Bay has to offer—right from your doorstep. (id:65179)
Property details
From the listing's public record.
Lot size
0.96 acres
Taxes
$3,840/yr
Zoning
Residential
View
Waterfront
How this listing compares
Based on 13 sales in Malahat & AreaMedian sold
$470,000
Avg days on market
108 days
Avg sale-to-list
91.3%
Avg $/sqft
—
Current market in Malahat & Area
Active (same type)
13
Pending
1
All active listings
139
Months of supply
12
Buyer's market — 12 months of supply at the current sales pace.
Assessment
From publicly available property records.
Homes in Malahat & Area sell at 379.9% of assessed value on average.
Based on 13 recent sales.
Recent nearby sales
6 sales1894 Lakewood Rd
$825,000
— · — · — · 64 days on market
Sold May 6, 2026 · 68.8% of list
0 Trans Canada Hwy
$1,300,000
— · — · — · 44 days on market
Sold Apr 15, 2026 · 92.9% of list
Lot 11 Thain Rd
$950,000
— · — · — · 285 days on market
Sold Apr 15, 2026 · 86.4% of list
Lot 2 Braithwaite Dr
$423,500
— · — · — · 201 days on market
Sold Mar 19, 2026 · 95.2% of list
Lot 11 Goldstream Heights Dr
$407,500
— · — · — · 28 days on market
Sold Feb 17, 2026 · 95% of list
801 Trans Canada Hwy
$2,000,000
— · — · — · 57 days on market
Sold Jan 30, 2026 · 80% of list
What would this home cost?
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Monthly mortgage
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Loan amount
$499,900 − $99,980
Down payment
20.0%
Property Transfer Tax
Legal / closing (est.)
Cash to close
$109,478
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 Maxxam Realty Ltd.