Two Exceptional Paths - One Rare Property. Subdivision approval is already in place for a small-lot development, with building plans by Java Designs for a 2,000 sq ft four-bedroom, four-bathroom home on the newly created lot included. The existing two-bedroom character home offers the option to move in, rent it out, or carry on with the final stage of subdivision and build next door. Alternatively, keep the lot as is under the new Town Centre District (TCD-1) zoning, which uniquely allows for both residential and commercial uses. This flexibility opens multiple avenues for ownership, development, or future mixed-use potential. Ideally located in South Jubilee near Oak Bay Avenue, the Royal Jubilee Hospital, and the Oak Bay border, you’re steps from major transit, Oak Bay Recreation Centre, groceries, restaurants, and cafés, and in the Willows Elementary, Monterey Middle, and Oak Bay High catchments. The sunlit living room, original hardwood floors, formal dining room, bright kitchen, and unfinished lower level with storage or future potential complete this exceptional offering.