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2560 Springfield Road

Single Family For Sale in Kelowna, British Columbia

$3,488,000
  • 5 Beds
  • 3 Baths
  • 2,240 Sq. Ft.
  • Built 1972
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:4069)
Address 2560 Springfield Road
List Price $3,488,000
Property Type Single Family
Type of Dwelling House
Style of Home Split level entry
Area British Columbia
Sub-Area Kelowna
Bedrooms 5
Bathrooms 3
Floor Area 2,240 Sq. Ft.
Lot Size 0.65 Sq. Ft.
Year Built 1972
MLS® Number 10275592
Listing Brokerage Coldwell Banker Horizon Realty
Basement Area Full
Postal Code V1X1C2
Site Influences Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area, View
Features Level lot, Corner Site

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Tarynn Liv Parker

Oakwyn Realty

473 Bernard Ave. Kelowna BC V1Y 6N8

Mobile: 250-215-4076

tarynn@thefieldguide.ca