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2560 & 685 Springfield & Ziprick Road, Kelowna, British Columbia V1X 1C2

$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:51808)

Property Details

MLS® Number 10275594
Property Type Vacant Land
Neigbourhood Rutland South
Amenities Near By Golf Course, Recreation, Shopping, Airport, Ski Hill, Schools, Park, Public Transit
Features Central Location, Corner Site, Flat Site, Level
View Type View, City View

Building

Utility Water Municipal Water

Land

Acreage No
Current Use Development Residential
Land Amenities Golf Course, Recreation, Shopping, Airport, Ski Hill, Schools, Park, Public Transit
Sewer Municipal Sewage System
Size Frontage 169 Ft
Size Irregular 0.651
Size Total 0.651 Ac|under 1 Acre
Size Total Text 0.651 Ac|under 1 Acre

https://www.realtor.ca/real-estate/25625319/2560-685-springfield-ziprick-road-kelowna-rutland-south

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Contact us for more information


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Mackenzie Otteson

(250) 870-1398
meetkenz.ca/
https://www.facebook.com/meet.kenz
www.linkedin.com/in/meetkenz

Coldwell Banker Horizon Realty
#14 - 1470 Harvey Avenue
Kelowna, British Columbia V1Y 9K8

(250) 860-7500
(250) 868-2488

Saverio Tumato

(250) 862-6911
www.saveriotumato.com
https://www.facebook.com/Saveriotumatorealestate?ref=hl

Coldwell Banker Horizon Realty
#14 - 1470 Harvey Avenue
Kelowna, British Columbia V1Y 9K8

(250) 860-7500
(250) 868-2488

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