Royal LePage Kelowna
Royal LePage Kelowna

2560 Springfield Road,
Kelowna, British Columbia V1X1C2

$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# 10275592
Courtesy of Coldwell Banker Horizon Realty
Listed on: May 24, 2023

On market: 123 days
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5 Bedroom 3 Bathroom

Wall unit Baseboard heaters

Bathroom Total 3
Bedrooms Total 5
Half Bathrooms Total 0
Year Built 1972
Cooling Type Wall unit
Flooring Type Carpeted, Tile, Laminate, Vinyl
Heating Type Baseboard heaters
Heating Fuel Electric
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KitchenSecond level12 ft x 9 ft ,10 in
Dining roomSecond level12 ft x 8 ft ,4 in
Living roomSecond level14 ft x 13 ft
Full bathroomSecond level8 ft ,7 in x 4 ft ,10 in
BedroomSecond level10 ft ,9 in x 10 ft ,2 in
Primary BedroomSecond level13 ft ,7 in x 11 ft ,11 in
Laundry roomSecond level6 ft ,4 in x 5 ft ,5 in
Living roomBasement24 ft x 11 ft ,11 in
KitchenBasement10 ft x 9 ft
BedroomBasement11 ft ,8 in x 8 ft
Primary BedroomBasement11 ft ,7 in x 10 ft ,5 in
Full bathroomBasement12 ft ,8 in x 5 ft ,4 in
KitchenMain level9 ft ,6 in x 7 ft
Living roomMain level13 ft ,8 in x 11 ft ,10 in
Primary BedroomMain level11 ft ,10 in x 6 ft ,2 in
Full bathroomMain level6 ft ,5 in x 5 ft