6 Bedroom
3 Bathroom
2451 sqft
Central Air Conditioning
Forced Air, See Remarks
Landscaped, Level
$950,000
Offering a 1.89% assumable mortgage and strong rental income, this corner lot is the perfect holding property for future development. The land is already zoned to accommodate up to 6 townhouses and is located on a quiet street close to all that the South Pandosy neighbourhood has to offer—shopping, restaurants, beaches, schools, H2O Centre, public transit, and much more. Higher floors will enjoy beautiful pastoral views in almost every direction and will aide your future development in being a big success! Good rental revenue from the tenants in the existing house ensures that you can take your time perfecting your development plans and then build when the time is right. If the existing mortgage is assumed, the property will generate approximately $700/mo in positive cashflow until you are ready to redevelop it (based on current rental income and a 20% downpayment). The increased Property Transfer Tax Exemption on new construction means that a buyer can now purchase an $850k townhouse with less than $65k down if they included the GST in their mortgage. Furthermore, the upcoming change allowing high-ratio mortgages to amortize new construction over 30 years could result in said buyer’s mortgage payment being less than $4k/mo (assuming 4% interest rate at time of project completion). Sample floor plans have been provided to demonstrate what is possible, but the extensive street frontage of this lot provides considerable flexibility to realize your own development vision. (id:53701)
Property Details
MLS® Number
|
10311452 |
Property Type
|
Single Family |
Neigbourhood
|
Springfield/Spall |
AmenitiesNearBy
|
Golf Nearby, Park, Recreation, Schools, Shopping |
CommunityFeatures
|
Rentals Allowed |
Features
|
Level Lot, Corner Site, Two Balconies |
ParkingSpaceTotal
|
5 |
ViewType
|
Mountain View, Valley View, View (panoramic) |
Building
BathroomTotal
|
3 |
BedroomsTotal
|
6 |
Appliances
|
Refrigerator, Dishwasher, Dryer, Range - Electric, Washer |
BasementType
|
Full |
ConstructedDate
|
1967 |
ConstructionStyleAttachment
|
Detached |
CoolingType
|
Central Air Conditioning |
ExteriorFinish
|
Stucco, Wood Siding |
FlooringType
|
Ceramic Tile, Laminate |
HeatingType
|
Forced Air, See Remarks |
RoofMaterial
|
Asphalt Shingle |
RoofStyle
|
Unknown |
StoriesTotal
|
2 |
SizeInterior
|
2451 Sqft |
Type
|
House |
UtilityWater
|
Municipal Water |
Parking
See Remarks
|
|
Attached Garage
|
1 |
Land
AccessType
|
Easy Access |
Acreage
|
No |
LandAmenities
|
Golf Nearby, Park, Recreation, Schools, Shopping |
LandscapeFeatures
|
Landscaped, Level |
Sewer
|
Municipal Sewage System |
SizeFrontage
|
73 Ft |
SizeIrregular
|
0.16 |
SizeTotal
|
0.16 Ac|under 1 Acre |
SizeTotalText
|
0.16 Ac|under 1 Acre |
ZoningType
|
Multi-family |
Rooms
Level |
Type |
Length |
Width |
Dimensions |
Basement |
Full Bathroom |
|
|
6'7'' x 7'3'' |
Basement |
Bedroom |
|
|
8'1'' x 10'9'' |
Basement |
Bedroom |
|
|
11'0'' x 10'10'' |
Basement |
Kitchen |
|
|
13'3'' x 10'7'' |
Basement |
Dining Room |
|
|
9'7'' x 11'2'' |
Basement |
Living Room |
|
|
17'2'' x 10'10'' |
Main Level |
Bedroom |
|
|
9'2'' x 9'3'' |
Main Level |
Bedroom |
|
|
10'10'' x 9'2'' |
Main Level |
Bedroom |
|
|
11'5'' x 9'6'' |
Main Level |
Full Bathroom |
|
|
7'0'' x 9'8'' |
Main Level |
3pc Ensuite Bath |
|
|
3'0'' x 9'0'' |
Main Level |
Primary Bedroom |
|
|
13'3'' x 14'2'' |
Main Level |
Kitchen |
|
|
18'3'' x 10'4'' |
Main Level |
Dining Room |
|
|
9'6'' x 10'9'' |
Main Level |
Living Room |
|
|
17'9'' x 12'8'' |
https://www.realtor.ca/real-estate/26823394/3339-bothe-road-kelowna-springfieldspall