685-675 Ziprick Road, Kelowna

MLS® 10275593

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:36863)

Property Details

Full Address:
685-675 Ziprick Road, Kelowna, British Columbia
Price:
$ 3,488,000
MLS Number:
10275593
List Date:
May 24th, 2023
Lot Size:
0.65 ac
Year Built:
1988
Taxes:
$ 7,264

Interior Features

Bedrooms:
8
Bathrooms:
4
Flooring:
Carpeted, Linoleum
Heating:
Baseboard heaters, Electric
Basement:
Full

Building Features

Architectural Style:
Split level entry
Sewer:
Municipal sewage system
Water:
Municipal water
Roof:
Asphalt shingle, Tar & gravel, Unknown
Zoning:
Unknown
Exterior:
Stucco
Garage:
Other
Garage Spaces:
8
Ownership Type:
Freehold
Taxes:
$ 7,264

Floors

Finished Area:
4400 sq.ft.

Land

View:
City view, View (panoramic)
Lot Size:
0.65 ac

Neighbourhood Features

Amenities Nearby:
Pets Allowed, Rentals Allowed

Ratings

Commercial Info

Location

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