$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:42341)
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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 -
Utilities
Sewer Available
Mark Gidden
Realtor/Founder
Lloyd Taverner
Realtor/Senior Partner
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June 13 2023 11:58:36
Okanagan-Mainline Real Estate Board
Coldwell Banker Horizon Realty
