685-675 Ziprick Road

Kelowna
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 (2560 Springfield Rd & 685-675 Ziprick Rd) currently zoned MF1. City Council has been supportive of rezoning to MF2 - Townhouse Housing (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:58468)

Property Information

Property Type
Residential
SqUARE FOOTAGE
4400
 sqft
Structure Type
Duplex
LAND SIZE
0.65 acres
Roof Type
Asphalt shingle, Tar & gravel
Lot
Level lot, Corner Site
SEWER Type
Municipal sewage system
Parking Spots
8
stories
Floor Type
Carpeted, Linoleum

More Information

Security
View
City view, View (panoramic)
Parking
Other
Exterior
Stucco
Community
Pets Allowed, Rentals Allowed
Common inTEREST
Freehold
Listing Key
25625320
MLS ID
10275593
listing agent
Mackenzie Otteson
listing agent key
2128686
8
Beds
4
Baths
$
3488000

Virtual Tour

Location

Map

Contact

Mackenzie Otteson

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Contact

Saverio Tumato

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