$ 1,600,000
675 Moraine Court Kelowna, BC V1X5X2
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In-PersonVirtual Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,600,000
Est. payment /mo
Active
675 Moraine Court Kelowna, BC V1X5X2
0.47 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Rutland South
MLS® Listing ID 10318219
Originating Board Association of Interior REALTORS�
Lot Size 0.470 Acres
Acres 20473.2
Property Description
Located on a quiet street in the desirable Spring Valley neighbourhood, this sizeable 0.47 acre lot is the perfect site for your future townhouse development. The city supports rezoning this parcel to MF2 to accommodate up to 20,400sq ft GFA (Base FAR: 1.0). At two stories in height, this property can comfortably accommodate 14x 1,300sq ft townhouses, but greater density could be achieved if building up a 3rd story (up to FAR: 1.3 possible w/ Public Amenity or Rental Bonus). The existing house and sizeable workshop will provide solid rental income while you are perfecting your development plans, and proximity to shopping, restaurants, schools, parks, Mission Park Greenway, Orchard Park Mall, Costco, public transit, and much more will aide your future development in being a big success! The Property Transfer Tax Exemption on new construction means that a buyer can purchase a $650k townhouse with less than $45k down if they included the GST in their mortgage, and 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 $3k/mo (assuming 3.5% interest rate at time of project completion). Sample floor plans have been provided to demonstrate what is possible, but the size and shape of this lot affords considerable flexibility to realize your own development vision. (id:24570)
Location
Province BC
Zoning Multi-Family
Exterior
Parking Features No
Community Features Family Oriented
View Y/N No
Private Pool No
Building
Lot Description Landscaped, Level
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Century 21 Assurance Realty Ltd
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