4 Bedrooms

2 Bathrooms

2,204 sqft

$2,000,000

MF3 DEVELOPMENT OPPORTUNITY IN TRANSIT CORRIDOR – (KLO AREA) Excellent opportunity to acquire a multi-family, multi-story development site in Kelowna’s rapidly evolving KLO Rd corridor. This property can be developed in conjunction with the other two MF3 zoned properties in the assembly, allowing for near-term development potential in a high-demand rental and residential market. Situated within a designated transit supportive corridor, the site benefits from progressive planning policies supporting increased density and more flexible parking requirements (buyer to verify with City of Kelowna). FAR of 2.05 for residential development - and utilizing the available rental bonus, an FAR of up to 2.35 is achievable. In conjunction with the neighboring MF3-zoned lot, the site presents an efficient and financially compelling development opportunity. The City will support rezoning to MF3- allowing a significant increase in the overall development area to 0.98 acres. The assembly is located in an area experiencing strong redevelopment momentum, with excellent proximity to transit, amenities, schools and major transportation routes. The existing homes also provide holding income while development plans are advanced. This property can only be purchased in conjunction with both 1240 KLO Road, and 3090 Holland Road, as a land assembly. (id:64133)

• Property Details
• Building
• Land
• Rooms
• Utilities

• Property Details

  MLS® Number	10386477
  Property Type	Single Family
  Neigbourhood	Kelowna South

• Building

  Bathroom Total	2
  Bedrooms Total	4
  Architectural Style	Ranch
  Constructed Date	1968
  Construction Style Attachment	Detached
  Cooling Type	Wall Unit
  Heating Fuel	Electric
  Heating Type	Baseboard Heaters
  Stories Total	2
  Size Interior	2,204 Sqft
  Type	House
  Utility Water	Municipal Water

  Parking

  Carport

• Land

  Acreage	No
  Sewer	Municipal Sewage System
  Size Irregular	0.37
  Size Total	0.37 Ac|under 1 Acre
  Size Total Text	0.37 Ac|under 1 Acre

• Rooms

  Level	Type	Length	Width	Dimensions
  Basement	Storage			5' x 8'11''
  Basement	Dining Room			10'8'' x 11'
  Basement	Full Bathroom			5' x 8'6''
  Basement	Bedroom			10'10'' x 11'
  Basement	Kitchen			11' x 13'
  Basement	Games Room			10'11'' x 23'9''
  Main Level	Sunroom			7'7'' x 16'9''
  Main Level	Dining Room			9' x 11'
  Main Level	Bedroom			8' x 11'
  Main Level	Bedroom			11'6'' x 12'
  Main Level	Full Bathroom			5'6'' x 6'6''
  Main Level	Primary Bedroom			13'2'' x 15'7''
  Main Level	Kitchen			15'8'' x 9'8''
  Main Level	Living Room			23' x 13'5''