2560 Springfield Road
Kelowna, BC V1X 1C2

$3,488,000

Beds: 5
Baths: 3
Sq. Ft.: 2,240
Type: House
Listing #10275592
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:12822)
Property Features
Location Information
Subdivision: Rutland South
Interior Features
Rooms: Laundry room, Second level, 6'4'' x 5'5''; Primary Bedroom, Second level, 13'7'' x 11'11''; Bedroom, Second level, 10'9'' x 10'2''; 4pc Bathroom, Second level, 8'7'' x 4'10''; Living room, Second level, 14'0'' x 13'0''
Rooms: Dining room, Second level, 12'0'' x 8'4''; Kitchen, Second level, 12'0'' x 9'10''; 4pc Bathroom, Basement, 12'8'' x 5'4''; Primary Bedroom, Basement, 11'7'' x 10'5''; Bedroom, Basement, 11'8'' x 8'0''
Rooms: Kitchen, Basement, 10'0'' x 9'0''; Living room, Basement, 24'0'' x 11'11''; 4pc Bathroom, Main level, 6'5'' x 5'0''; Primary Bedroom, Main level, 11'10'' x 6'2''; Living room, Main level, 13'8'' x 11'10''
Rooms: Kitchen, Main level, 9'6'' x 7'0''
Bathrooms: 3
Heating: Baseboard heaters,
Heating Fuel: , Electric
Cooling: Wall unit
Floors: Carpeted, Laminate, Tile, Vinyl
Exterior Features
Style: Split level entry
Roof: Unknown, Unknown
Sewer: Municipal sewage system
Has Garage: Yes
Garage Spaces: 1
Parking Spaces: 10
Has a Pool: No
Lot Description: Level
Lot Size in Acres: 0.65
Zoning: Unknown
Has Waterfront: No
Has View: Yes
View Description: City view, View (panoramic)
Additional Information
Property Type: SFR
Property SubType: Single Family
Ownership Type: Freehold
Year Built: 1972
Common Area Features: Pets Allowed, Rentals Allowed


$ per month
Year Fixed. % Interest Rate.
Principal + Interest: $
Monthly Tax: $
Monthly Insurance: $
Term
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Interest Rate
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Down Payment
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List Price:
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Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
Listing Courtesy of Coldwell Banker Horizon Realty
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CREA AB-BC Western data last updated at March 28, 2024 9:01 AM PT