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 & RU4. 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 $10,802/month in rents = 129,624/yr. Gross cap rate = approx. 3.72. 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:2493)More details
Bring your own builder to this 0.211 acre lot located at the end of a quiet cul-de-sac to build your dream home with unobstructed Okanagan Lake views! Boasting 91ft frontage and 123ft depth with stunning, unparalleled views up and down the lake, this lot is an idyllic location for those seeking peaceful and serene surroundings. All of this while being conveniently situated just a short drive from town, this location offers the perfect balance of secluded privacy and easy access to urban amenities. The lot is particularly well suited to a walkup style home and an exceptional opportunity to bring your own builder (rare!) and create a custom home tailored to your unique tastes and preferences. Services are at the lot line, and the property can also come with a complete set of plans, including geotech reports, allowing your building process to be as smooth as possible. With its expansive views and tranquil location, this lot presents an unparalleled opportunity to build your dream home and enjoy the best that Okanagan living has to offer. (id:2493)More details
The OCP indicates the current land use to support conversion to a Commercial Core (Westbank Urban Centre-Commercial Core) which if adopted, (ADOPTION expected in July 2023) will potentially allow the development of a mixed-use, commercial/residential building up to 10 stories: with zoning application intended to follow. Don't miss out on securing a FREEHOLD land development property in the heart of WESTBANK Centre. There could be an opportunity for a land assembly with the neighbouring lots. Contact your favourite realtor for further details and more information. (id:2493)More details
Data was last updated May 31, 2023 at 09:45 AM (UTC)
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Central Okanagan Homes
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