685-675 Ziprick Road, Kelowna, British Columbia

$3,488,000

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8

Beds

4

Baths

4,400

Square feet

0.65

Acres

About 685-675 Ziprick Road

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:3745)

Features of 685-675 Ziprick Road

Listing # 10275593
Price $3,488,000
Bedrooms 8
Bathrooms 4.00
Square Footage 4,400
Acres 0.65
Year Built 1988
Type Single Family
Sub-Type Freehold
Style Split level entry

Community Information

Address 685-675 Ziprick Road
Subdivision Rutland South
City Kelowna
Province British Columbia
Postal Code V1X4H6

Amenities

Amenities Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area
Features Level lot, Corner Site
Parking Spaces 8
Parking Other
View City view, View (panoramic)
Is Waterfront No
Has Pool No

Interior

Heating Electric Baseboard heaters
Fireplace No
Has Basement No

Exterior

Exterior Stucco
Exterior Features Level
Roof Asphalt shingle,Tar & gravel

Additional Information

Zoning Unknown

Listing Details

OfficeColdwell Banker Horizon Realty

Listing Map

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