Investment property with numerous opportunities! Currently fully rented, generating an impressive monthly rental revenue of $7000.00 (excellent revenue while you await potential re-zoning) or live on the top floor with 4 bedrooms and earn nearly $4,000 per month. This property offers a substantial corner lot measuring 140ft x 80ft (11,200 sq ft), accompanied by a double garage, sheds for storage, and two driveways with ample parking space. The spacious '60s home boasts nine bedrooms and has undergone some updates over the years. It enjoys a short distance to UVIC and is just one block away from Mt.Doug Secondary. You'll find a large sunny deck on the upper level and a raised private patio in the backyard. All windows have been upgraded to vinyl, ensuring enhanced energy efficiency and aesthetics. Hot Water on Demand! With a quick drive to Cadboro Bay Beach and less than a 5-minute drive to Tuscany Village & University Heights for shopping, this property offers convenience at its best.