2560 & 685 Springfield & Ziprick Road Active Save Request In-Person Tour Request Virtual Tour
Kelowna,BC V1X1C2
Key Details
Property Type Vacant Land
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Rutland South
MLS Listing ID 10275594
Originating Board Association of Interior REALTORS®
Lot Size 0.650 Acres
Acres 28314.0
Property 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). City Council has been supportive of rezoning to MF2 (FAR 1 + 0.15 bonus) & Seller's 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 (total). 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 hectares 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:24570)
Location
Province BC
Zoning Unknown
Exterior
Garage No
Waterfront No
View Y/N Yes
View City view,View (panoramic)
Private Pool No
Building
Lot Description Level
Sewer Municipal sewage system
Others
Ownership Freehold