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2560 & 685 Springfield & Ziprick Road Kelowna, British Columbia V1X 1C2

Level

$3,488,000

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:20737)

Property Details

MLS® Number 10275594
Property Type Vacant Land
Neigbourhood Rutland South
Amenities Near By Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski Area
Features Level Lot, Corner Site
View Type City View, View (panoramic)

Building

Type Other
Utility Water Municipal Water

Land

Acreage No
Current Use Development Commercial
Land Amenities Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski Area
Landscape Features Level
Sewer Municipal Sewage System
Size Frontage 169 Ft
Size Irregular 0.65
Size Total 0.65 Ac|under 1 Acre
Size Total Text 0.65 Ac|under 1 Acre
Zoning Type Unknown

Utilities

Natural Gas At Lot Line

https://www.realtor.ca/real-estate/25625319/2560-685-springfield-ziprick-road-kelowna-rutland-south


Coldwell Banker Horizon Realty
#14 - 1470 Harvey Avenue
Kelowna, British Columbia V1Y 9K8

(250) 860-7500
(250) 868-2488

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