2560 Springfield Road
Kelowna, British Columbia V1X1C2

$3,488,000

ID# 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 (2560 Springfield Rd & 685-675 Ziprick Rd) currently zoned MF1. City Council has been supportive of rezoning to MF2 (FAR 1 + 0.15 bonus) & Seller's 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 (total). 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 hectares 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:3942)
Courtesy of Coldwell Banker Horizon Realty

Listed on: May 24, 2023

On market: 547 days
Bathroom Total 3
Bedrooms Total 5
Half Bathrooms Total 0
Year Built 1972
Cooling Type Wall unit
Flooring Type Carpeted, Laminate, Tile, Vinyl
Heating Type Baseboard heaters
Heating Fuel Electric
Laundry roomSecond level6'4'' x 5'5''
Primary BedroomSecond level13'7'' x 11'11''
BedroomSecond level10'9'' x 10'2''
4pc BathroomSecond level8'7'' x 4'10''
Living roomSecond level14'0'' x 13'0''
Dining roomSecond level12'0'' x 8'4''
KitchenSecond level12'0'' x 9'10''
4pc BathroomBasement12'8'' x 5'4''
Primary BedroomBasement11'7'' x 10'5''
BedroomBasement11'8'' x 8'0''
KitchenBasement10'0'' x 9'0''
Living roomBasement24'0'' x 11'11''
4pc BathroomMain level6'5'' x 5'0''
Primary BedroomMain level11'10'' x 6'2''
Living roomMain level13'8'' x 11'10''
KitchenMain level9'6'' x 7'0''
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Cory Alexander *PREC Taryn O'Donohue

250-575-5452 250-300-1311

Royal LePage Kelowna

1-1890 Cooper Road,

Kelowna, BC, V1Y 8B7


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