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2560 Springfield Road | $3,488,000
Amar Kahlon* Agent Photo
Amar
Kahlon*
C. (250) 809-0968
 P. (250) 492-2266
 Phone Amar www.teamkahlongroup.com
RE/MAX PENTICTON REALTY
302 Eckhardt Avenue West
 Penticton, BC
 Canada V2A 2A9

Details

%
Years (35 year max)
Years



Address 2560 Springfield Road
AreaCentral Okanagan
Sub AreaRS - Rutland South
State/ProvinceBritish Columbia
CountryCanada
Price$3,488,000
Property TypeSingle Family - Detached
Floors in Building0
Bedrooms5
Bathrooms3
Half Baths0
Floor Space2240 Square Feet
Lot Size0.65 Acres
Year Built1972
Parking2 Spaces, Carport, Single garage
Taxes $4,091
Tax Year2024
MLS® #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!?

Listed by COLDWELL BANKER HORIZON REALTY

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About

Amar Kahlon is an award-winning real estate professional and has vast knowledge in the real estate field. Living in Penticton for well over two decades with his family. He and his wife Supreet raised two children, Ikjot and Udai in Penticton. Ikjot and Udai are now partners with Amar in Team Kahlon.

Amar is known for providing exceptional real estate service, starting with a great foundation, versatility, and innovations. He brings a diverse and unique experience in sales, marketing, and development. Amar has a proven track record for building trust in his tenacity, work ethic, professionalism, and ability to deliver exceptional results for his clients. He is client-focused and results-driven. His sophisticated negotiation skill set him apart in his ability to advocate for his clients. He has extensive experience in development, rezoning, land assemblies, and successfully helping his clients to complete developments. He is a savvy, strategic and trusting partner and feels privileged to be able to help his clients reach their goals and dreams.

Amar loves travelling, biking, hiking and cooking different cuisines and socializing with his friends and families.

Amar would be honored to work with you to reach your real estate goals.

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