685-675 Ziprick Road, Kelowna, British Columbia V1X4H6

Listing courtesy of Coldwell Banker Horizon Realty.

$3,488,000
8
BD
4
BA
4,400
SqFt
List Price
$3,488,000
MLS®
10275593
Status
ACTIVE
Type
Single Family Residential
Subtype
Single Family
Bedrooms
8
Bathrooms
4
Living Area
4,400
Lot Size Dimensions
0.65
Lot Size
28,314
Subdivision
Rutland South
Year Built
1988

Property Description

Prime land assembly opportunity on the corner of Springfield and Ziprick, directly across from Mission Creek Regional Park. Whether you’re looking for a holding property, cash flow investment, or land to build on- this designated “Core Neighbourhood” parcel offers all the above. The land assembly is 0.651 acres (28,357 SF), & made up of two lots currently zoned RU1 (2560 Springfield Rd) & RU4 (685-675 Ziprick Rd). The Sellers have submitted a rezoning application to MF2 (FAR 1 + 0.15 bonus) & have architectural plans for a 16-unit (approx. 1500 SF each) townhouse development. In the meantime, the landlords are collecting approximately $11,052/month in rents = 132,624/yr. Gross cap rate = approx. 3.8. There are two bus stops within 80 m and the city has designated both Springfield & Ziprick as “Major Arterial” transportation networks with bike lane & infrastructure improvements on the horizon. Walking distance to Springvalley Elementary & Middle Schools, Costco, Orchard Park Mall, and across the road from 94 ha of trails at Mission Creek Regional Park. Across Ziprick is City owned property set aside for public service utilities & additional green space. Located halfway between UBCO & the future downtown campus (less than 8 km to both), 10 km from YLW (international airport), & 50 minutes to world-class Big White Ski Resort. This is a comprehensive & rare offering, sure to catch the attention of any savvy investor. What are you waiting for!? (id:5764)

Additional Information

Ownership
Freehold
View
City view, View (panoramic)
Subdivision
Rutland South
Zoning
Unknown
Parking Spaces
8
Country
Canada
Flooring
Carpeted, Linoleum
Sewer
Municipal sewage system
Roof
Asphalt shingle, Tar & gravel, Unknown
Community Features
Pets Allowed, Rentals Allowed
Heating
Baseboard heaters, Electric
Lot Features
Level lot, Corner Site
Architectural Style
Split level entry
Lot Size
28,314
Exterior Features
Stucco
Zoning
Unknown

Mortgage Calculator

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Calculator source: Real Geeks