550 Phelps Ave, Langford
Thetis Heights · Single Family Residence · MLS® 1026612 · Listed Apr 2, 2026
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.
| Property Type | Single Family Residence |
| Bedrooms | 6 |
| Bathrooms | 3 |
| Interior | 2,475 sqft |
| Lot Size | 8,712 sqft (0.2 acres) |
| Parking | 6 spaces |
| Year Built | 1969 |
| Fireplaces | 2 |
| Heating | Heat Pump |
| Basement | None |
| Exterior | Stucco |
| Roof | Fibreglass Shingle |
| Foundation | Slab |
| Flooring | Carpet, Mixed, Vinyl |
| Water | Municipal |
| Sewer | Sewer Connected |
| Zoning | Residential |
| Taxes | $4,983 (2025) |
| Extras | Dishwasher, Dryer, F/S/W/D, Microwave, Refrigerator, Washer |
| MLS® # | 1026612 |
| Brokerage | Pemberton Holmes Ltd. - Oak Bay |
Similar properties sold within 6 months
Thetis Heights single-family averages, updated daily. See Thetis Heights market stats or Langford market stats.
550 Phelps Ave, Langford sold on May 26, 2026, after 54 days on the market.
It sold for $975,000 (listed at $1,050,000). Source: BC Assessment (registered sale).
It was on the market for 54 days, from April 2, 2026 to May 26, 2026.
A Single Family Residence in Thetis Heights, Langford with 6 bedrooms, 3 bathrooms, 2,475 sqft, built in 1969.
It has 6 parking spaces.
The lot is 8,712 sqft (0.2 acres).
550 Phelps Ave, Langford sold for $975,000, 3.6% below its BC-assessed value of $1,011,000 (assessed July 1, 2025) — a sale-to-assessment ratio of 96%. Source: BC Assessment.
550 Phelps Ave, Langford last changed hands from $1,050,000 (Feb 6, 2023) to $975,000 (Jun 17, 2026) — -7.1% over 3.4 years, about -2.1% per year. Source: BC Assessment.
Langford is currently a balanced market: median sold price $950,000, 4 months of inventory, homes typically selling in about 39 days.
There are 8 houses for sale in Thetis Heights right now. Browse all Thetis Heights houses for sale to see current listings, updated daily from the MLS® system.
The median house sold price in Thetis Heights is $950,000, based on 42 sales over the past 12 months. The median price per square foot is $458. Compare asking prices across the houses currently for sale in Thetis Heights.
MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. Data last updated: Aug 17, 2026.
