3339 Bothe Road Active Save Request In-Person Tour Request Virtual Tour
Kelowna,BC V1W3M3
Key Details
Property Type Single Family Home
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 2,451 sqft
Price per Sqft $367
Subdivision Springfield/Spall
MLS Listing ID 10311452
Bedrooms 6
Year Built 1967
Lot Size 6,969 Sqft
Property Description
Offering a 1.89% assumable mortgage and strong rental income, this corner lot is the perfect holding property for future development. The land is already zoned to accommodate up to 6 townhouses and is located on a quiet street close to all that the South Pandosy neighbourhood has to offer?shopping, restaurants, beaches, schools, H2O Centre, public transit, and much more. Higher floors will enjoy beautiful pastoral views in almost every direction and will aide your future development in being a big success! Good rental revenue from the tenants in the existing house ensures that you can take your time perfecting your development plans and then build when the time is right. If the existing mortgage is assumed, the property will generate approximately $1,200/mo in positive cashflow until you are ready to redevelop it (based on current rental income and a 20% downpayment). The increased Property Transfer Tax Exemption on new construction means that a buyer can now purchase an $850k townhouse with less than $65k down if they included the GST in their mortgage. Furthermore, the upcoming change allowing high-ratio mortgages to amortize new construction over 30 years could result in said buyer?s mortgage payment being less than $4k/mo (assuming 4% interest rate at time of project completion). Sample floor plans have been provided to demonstrate what is possible, but the extensive street frontage of this lot provides considerable flexibility to realize your own development vision. (id:24570)
Location
Province BC
Zoning Multi-Family
Interior
Heating Forced air,See remarks
Cooling Central air conditioning
Flooring Ceramic Tile,Laminate
Exterior
Parking Features Yes
Garage Spaces 1.0
Garage Description 1
Community Features Rentals Allowed
View Y/N Yes
View Mountain view,Valley view,View (panoramic)
Roof Type Unknown
Building
Lot Description Landscaped,Level
Story 2
Sewer Municipal sewage system