550 Arbutus Ave An exceptional opportunity to secure 0.88 acres of oceanfront property in beautiful Maple Bay on Vancouver Island. The property features an older two-level log cottage built in 1975, requiring substantial renovation or removal. The value lies primarily in the waterfront land, with the potential to create a spectacular private estate. The steep terrain and site constraints will require significant investment in site preparation, waterfront access and future construction. Priced at $950, 000, nearly $500, 000 below the 2026 BC Assessment of $1, 418, 000, the offering reflects the property's condition, redevelopment potential and current market realities. For those with vision, this is a rare opportunity to secure a legacy oceanfront property in a beautiful West Coast setting. **Caution: The property has steep terrain. Exercise extreme care when viewing. The exterior deck is unsafe and must not be accessed.** (id:203)