Active
2560 & 685 Springfield & Ziprick Road
Kelowna British Columbia, V1X1C2
$3,488,000
$123.19 per sqft
Active
0.65 Acres
Land
Courtesy of Coldwell Banker Horizon Realty
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:41202)
10275594
MLSⓇ ID
September 17, 2024
Updated
Map
2560 & 685 Springfield & Ziprick Road
Kelowna British Columbia, V1X1C2
Exterior/Building Features
Lot Size
0.65 Acres
Lot Features
Level
Sewer
Municipal sewage system
Other Property Details
Association Amenities
Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area
Garage
No
View
Yes
View Description
City view, View (panoramic)
Pool
No
Zoning
Unknown
Courtesy of Coldwell Banker Horizon Realty
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