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685-675 Ziprick Road, Kelowna
2023-05-24
Quick Summary
- Location
- 685-675 Ziprick Road, Kelowna, British Columbia V1X4H6
- Price
- $3,488,000
- Status:
- For Sale
- Property Type:
- Single Family
- Area:
- 4400ft2
- Bedrooms:
- 8
- Bathrooms:
- 4
- Year of Construction:
- 1988
MLS®#10275593
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 (2560 Springfield Rd & 685-675 Ziprick Rd) currently zoned MF1. City Council has been supportive of rezoning to MF2 - Townhouse Housing (FAR 1 + 0.15 bonus) & Seller's 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 (total). 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 hectares 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:32467)
Property Features
Ammenities Near By
- Ammenities Near By: Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area
Building
- Architectural Style: Split level entry
- Basement Type: Full
- Construction Style: Semi-detached
- Exterior Finish: Stucco
- Fireplace: No
- Flooring Type: Carpeted, Linoleum
- Interior Size: 4400 sqft
- Building Type: Duplex
- Utility Water: Municipal water
Features
- Feature: Level lot, Corner Site
Land
- Land Size: 0.65 ac|under 1 acre
- Sewer: Municipal sewage system
Ownership
- Type: Freehold
Information entered by Coldwell Banker Horizon Realty
Listing information last updated on: 2024-07-11 21:21:59
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How much could you save in commission selling with One Percent Realty?
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$500,000
Your One Percent Realty Commission savings†
$500,000
†
Savings calculated using One Percent Realty's posted commission rates compared to another agent charging
7% on the first 100k & 2.5% on the balance + GST. Not all agents charge the same.
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