2560 Springfield Road Kelowna, BC V1X 1C2
Listing Courtesy of:  CREA / Coldwell Banker Horizon Realty / Mackenzie Otteson

  2560 Springfield Road Kelowna, BC V1X 1C2

Active (370 Days)
$2,604,985
5
BED
3
BATH

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 currently zoned RU1 (2560 Springfield Rd) & RU4 (685-675 Ziprick Rd). 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 $11,052/month in rents = 132,624/yr. 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 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:41440)

MLS®:
10275592
Lot Size
0.65 acres
Type
Single-Family Home
Year Built
1972
Style
Split Level Entry
Views
City View, View (Panoramic)
County
Central Okanagan

Listed By

Mackenzie Otteson, Coldwell Banker Horizon Realty
Source
CREA
Last checked May 28 2024 at 11:29 PM PDT
Bathroom Details
  • Full Bathrooms: 3
Lot Information
  • Level Lot
  • Corner Site
Heating and Cooling
  • Baseboard Heaters
  • Electric
  • Wall Unit
Basement Information
  • Full
Flooring
  • Tile
  • Laminate
  • Carpeted
  • Vinyl
Exterior Features
  • Stucco
  • Composite Siding
  • Roof: Asphalt Shingle
  • Roof: Unknown
Utility Information
  • Sewer: Municipal Sewage System
Parking
  • Attached Garage
  • See Remarks
  • Total: 10
Location
   
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Disclaimer: REALTOR.CA The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Listing Data Last Updated: 5/28/24 16:29