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2560 & 685 Springfield & Ziprick Road
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2560 & 685 Springfield & Ziprick Road $3,488,000
$3,488,000
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2560 & 685 Springfield & Ziprick Road
Kelowna, British Columbia V1X1C2

MLS® Number: 10275594

Listing Description

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). 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!? (35900913)

Property Summary

Property Type
Vacant Land
Building Type
Other
Neighbourhood Name
Rutland South
Title
Freehold
Land Size
0.65 ac|under 1 acre
Annual Property Taxes
$11,352.45
Time on REALTOR.ca
540 days

Building

Building Features
Features
Level lot, Corner Site
Utilities
Utility Type
Natural Gas (At Lot Line)
Utility Sewer
Municipal sewage system
Water
Municipal water
Neighbourhood Features
Amenities Nearby
Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area

Land

Lot Features
Frontage
169 ft
Landscape Features
Level
Present Use
Development commercial
View
City view, View (panoramic)
Other Property Information
Zoning Type
Unknown
Data provided by: Association of Interior REALTORS® #112 - 140 Commercial Drive, Kelowna, British Columbia V1X 7X6
250-870-1398
Email
Book showing
Coldwell Banker Horizon Realty
#14 - 1470 Harvey Avenue
Kelowna, British Columbia V1Y9K8
250-860-7500
250-868-2488

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