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2560 Springfield Road | $3,488,000
Diane Fox* Agent Photo
Diane
Fox*
P. (250) 492-2266
 Phone Diane http:/www.pentictonproperties.com
RE/MAX PENTICTON REALTY
302 Eckhardt Avenue West
 Penticton, BC
 Canada V2A 2A9

Details

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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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THE DATA PROVIDED SHOULD BE USED AS A GUIDE ONLY. FOR UP TO DATE REFERENCE MATERIAL, CONSULT WITH INDIVIDUAL REGIONAL WEBSITES.
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About

Fox & Fox is a family team of Licenced Realtors working and living in the beautiful South Okanagan. Started by Len Fox in 1982, the team has expanded with the family over the years to include Philip Fox licenced since 2002, Diane Fox since 2006, and Stephen Fox since 2016. Len has since retired his licence but is an active consulting team member. Born and raised in Penticton we are all now raising our own families here and working to help our clients do the same. We specialise in new construction sales (condos, townhouses & single family homes) vineyards & wineries, commercial leases and sales & residential sales of every kind. If you are looking to buy/sell/lease in the South Okanagan let us put our local expertise to work for you. 

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