Attention investors & developers. Corner lot in sought after Fernwood, this charming two bedroom home offers exceptional redevelopment potential in one of Victoria's most desirable growth areas. Current R1B zoning allows subdivision, strata development, or a mixed commercial & residential project (buyers to verify w/ City of Victoria). Main level features a bright layout w/ two spacious bedrooms, generous kitchen, & cozy living room w/ gas fireplace and decommissioned wood fireplace. Large deck overlooks landscaped backyard w/ private hot tub, mature trees & flower gardens. Full height unfinished basement w/ laundry offers storage or future development potential. Updates include hot water on demand, efficient heat pump, updated perimeter drains, upgraded copper plumbing, improved wall insulation, & LED pot lighting. Solid walnut, mahogany & red oak hardwood flooring, plus quality pine & oak cabinetry. A rare opportunity in one of Victoria's most vibrant, evolving neighborhoods.