685-675 Ziprick Road,
Kelowna, British Columbia V1X4H6

$3,488,000

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 & RU4. 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 $10,802/month in rents = 129,624/yr. Gross cap rate = approx. 3.72. 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:3942)

ID# 10275593

Courtesy of Coldwell Banker Horizon Realty
Listed on: May 22, 2023

On market: 8 days

8 Bedroom 4 Bathroom

Baseboard heaters

Bathroom Total	4
Bedrooms Total	8
Half Bathrooms Total	0
Year Built	1988
Flooring Type	Carpeted, Linoleum
Heating Type	Baseboard heaters
Heating Fuel	Electric

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Living room	Second level	12 ft ,8 in x 18 ft
Dining room	Second level	9 ft ,4 in x 16 ft ,6 in
Kitchen	Second level	9 ft ,4 in x 16 ft ,6 in
Full bathroom	Second level	6 ft ,7 in x 8 ft ,6 in
Laundry room	Second level	3 ft x 5 ft
Primary Bedroom	Second level	11 ft ,7 in x 11 ft ,10 in
Bedroom	Second level	11 ft ,7 in x 10 ft ,6 in
Dining room	Third level	8 ft ,6 in x 11 ft ,8 in
Kitchen	Third level	9 ft ,8 in x 11 ft ,8 in
Living room	Third level	13 ft x 18 ft
Full bathroom	Third level	6 ft ,8 in x 8 ft
Primary Bedroom	Third level	10 ft ,8 in x 11 ft ,6 in
Bedroom	Third level	9 ft ,6 in x 11 ft ,2 in
Laundry room	Third level	4 ft ,6 in x 7 ft
Dining room	Basement	8 ft ,6 in x 11 ft ,8 in
Kitchen	Basement	9 ft ,8 in x 11 ft ,8 in
Living room	Basement	13 ft x 18 ft
Full bathroom	Basement	6 ft ,8 in x 8 ft
Bedroom	Basement	9 ft ,6 in x 11 ft ,2 in
Primary Bedroom	Basement	10 ft ,8 in x 11 ft ,6 in
Laundry room	Basement	4 ft ,6 in x 7 ft
Living room	Main level	12 ft ,8 in x 18 ft
Dining room	Main level	9 ft ,4 in x 16 ft ,6 in
Kitchen	Main level	9 ft ,4 in x 16 ft ,6 in
Full bathroom	Main level	6 ft ,7 in x 8 ft ,6 in
Laundry room	Main level	3 ft x 5 ft
Primary Bedroom	Main level	11 ft ,7 in x 11 ft ,10 in
Bedroom	Main level	11 ft ,7 in x 10 ft ,6 in

685-675 Ziprick Road, Kelowna, British Columbia V1X4H6

8 Bedroom 4 Bathroom

Baseboard heaters

685-675 Ziprick Road,
Kelowna, British Columbia V1X4H6