BELOW ASSESSED VALUE! Beautiful property in the heart of Cowichan Bay with a new fully finished one bedroom suite/mortgage helper downstairs that is situated within the 'Bench Elementary School' boundary. The property includes 1,649 square feet with an attached 401 square foot double garage and features four bedrooms and three baths equipped with an open layout kitchen and dining area perfect for hosting. The lower level has a new walk out fully finished suite that includes a living room, bathroom and bedroom. The site totals 0.75 acres (32,495 sq.ft.) of R3 – Village Residential zoned land (redevelopment potential noted - buyer due diligence required). Approximately 12,000 square feet of land at grade with the remaining site area provided at much lower elevations. Significant drop off to lower elevation noted. This is an incredible property suited for buyers looking to move into a quiet community-oriented location or for a developer with a vision.