Rare opportunity to own this charming rancher on a 50' x 106' parcel, with BC Assessment valuing the land alone at over $1M! A fantastic condo alternative, this easy, turnkey home offers low maintenance and no shared walls. Located on a quiet, family-friendly street with limited traffic, this urban gem provides rare walkability in a serene setting. Backing onto Redfern Park and just 300ft from Oak Bay, it features brand new flooring, an updated kitchen with quartz counters and a stylish tile backsplash, plus a sunny west-facing backyard ideal for gatherings or quiet afternoons. Previously rented for $40,800 annually plus utilities, this property is perfect as a family home, zero-vacancy rental, or prime redevelopment site (no easements or covenants). Walk to Red Barn Market, Oak Bay Rec, Save-On-Foods, and cozy cafes with outdoor seating. Close to excellent schools (Willows, Monterey, Oak Bay High). Don’t miss this rare chance—book your showing today!