550 Phelps Ave

Versatile income property in Thetis Heights with strong revenue potential. Configured with a 3-bed suite up, 2-bed plus office down, and additional studio-style space with kitchenette. Each living area includes in-suite laundry and its own heat pump for individual climate control. The upper suite offers open living with a spacious kitchen and island, while the lower level opens to a large patio and a wired gazebo with fan. Set on a large, flat lot with a fully fenced yard, and shed suitable for hobby use or storage. 200 amp electrical service in place. Gated parking for boats, RVs, trailers, work vehicles, and additional storage needs. Walking distance to Thetis Lake Regional Park with easy access to Hwy 1, shopping, schools, parks, and transit routes. Well suited for multi-tenant use with strong rental appeal and a practical layout that supports long-term value.