2560 Springfield Road, Kelowna

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:6289)

Essential Information

Listing #10275592

Price$3,488,000

Bedrooms5

Bathrooms3.00

Square Footage2,240

Acres0.65

Year Built1972

TypeSingle Family

Sub-TypeFreehold

StyleSplit level entry

Community Information

Address2560 Springfield Road

SubdivisionRutland South

CityKelowna

ProvinceBritish Columbia

Postal CodeV1X1C2

Amenities

FeaturesLevel lot, Corner Site

Parking Spaces10

ViewCity view, View (panoramic)

Amenities

Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area

Interior

HeatingElectric Baseboard heaters

CoolingWall unit

Exterior

ExteriorStucco, Composite Siding

Exterior FeaturesLevel

RoofAsphalt shingle,Unknown

Additional Information

Days on Market180

ZoningUnknown

Listing Details

OfficeColdwell Banker Horizon Realty

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