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2536 Thompson Avenue, Estevan Oak Bay

Price

$1,790,000

Bedrooms3 Beds

Bathrooms2 Baths

Size3622 sqft

Year Built1942

Property TypeDetached Home

Property Taxes$7,625.96

Description

** ATTENTION Smart Buyers! ** Set on a large flat 0.22-acre lot with sought-after street and laneway access, this 5-bedroom, 2-bathroom home offers exceptional potential in one of Victoria’s most coveted neighbourhoods. The flexible layout includes a bright, walk-out 2-bedroom lower level—ideal for extended family, guests, or a mortgage helper. A standout feature is the rare dual access, presenting an excellent opportunity for additional accommodation. With the introduction of the new SSMUH (Small-Scale Multi-Unit Housing) initiative, this property is a perfect candidate for the construction of a carriage house with a double garage on the lower level and a stylish 1- or 2-bedroom suite above. This potential secondary dwelling offers outstanding flexibility—whether for multigenerational living, guest quarters, or as a high-demand rental unit. Buyers are encouraged to consult the District of Oak Bay for current zoning and development possibilities. Located just steps from charming Estevan Village and beautiful Willows Beach, this property offers the best of Oak Bay living, with boutique shops, cozy cafés, and scenic seaside strolls right at your doorstep. You’re also minutes from Uplands and Victoria Golf Clubs, Oak Bay Marina, Oak Bay Village, Cadboro Bay Village, and UVIC. Situated within the catchment of some of the city’s top-rated schools—including Willows Elementary, Monterey Middle, and Oak Bay High—all easily walkable or bikeable—this home is ideal for families seeking both lifestyle and convenience. Well-maintained and full of promise, this is a rare opportunity to renovate, reimagine, or build new in an established, prestigious setting. Whether you’re searching for a family home, an investment property, or the perfect site for your dream build with future expansion options, this property delivers exceptional value in a true blue-chip Oak Bay location. (id:39198)

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Listed By

The listing brokerage and/or agent is eXp Realty

REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

Property Dimensions


The Property Location

Mortgage Calculator

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Total Monthly Payment

$7,066 / month


Down Payment Percentage

20.00%

Mortgage Amount (Principal)

$1,432,000

Total Interest Payments

$882,916

Total Payment (Principal + Interest)

$2,314,916


Discuss Your Options With Us Today

Cashflow Calculator

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Monthly Cash Flow

$300 / month


Monthly Expenses

-$1,700

Monthly Income

$2,000


Your monthly cash flow is positive

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Growing up on the island, and settling down in beautiful Victoria, I have a unique perspective on the areas flourishing real estate market. I bought my first property at the young age of 20 and from there went on to buy and sell multiple properties around the area.

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The listing data displayed is deemed reliable but is not guaranteed accurate by CREA®. The trademarks REALTOR®, REALTORS®; and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA®) and identify real estate professionals who are members of CREA®. Used under license. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association. Review our MLS® Data Disclosure if you have any further questions