Cowling
484 Main Street
Penticton, BC
Canada V2A 5C5
Details
Address | 2560 Springfield Road |
Area | Central Okanagan |
Sub Area | RS - Rutland South |
State/Province | British Columbia |
Country | Canada |
Price | $3,488,000 |
Property Type | Single Family - Detached |
Floors in Building | 0 |
Bedrooms | 5 |
Bathrooms | 3 |
Half Baths | 0 |
Floor Space | 2240 Square Feet |
Lot Size | 0.65 Acres |
Year Built | 1972 |
Parking | 2 Spaces, Carport, Single garage |
Taxes | $4,091 |
Tax Year | 2024 |
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
Location
About
Geoff Cowling has been helping clients make good real estate decisions since 1986, selling hundreds of properties in all kinds of market conditions. He has been a landlord, tenant, house and condo owner, vacation homeowner, strata corporation chairman, investor, renovator, general contractor on his family home, and a relocation buyer and seller. This helps him to understand your situation, and then help you to find a solution. This experience, and attention to detail, will help you to avoid costly and time consuming problems, giving you a real edge in a competitive market place.
Geoff is a Diamond Award winner, honouring the top 3% of all Royal LePage REALTORSĀ® in Canada. He also served a five year term at the South Okanagan Real Estate Board, serving as Chair of the Professional Standards Committee, Chair of the Finance Committee, Vice-President, and then as President of the 300+ REALTORĀ® Board.
When not working, Geoff is an avid life-long skier, and also enjoys golf, mountain biking, hiking, and keeping fit. He appreciates time with his wife Lisa, and daughters Melissa and Emily. He is a long time supporter of the Children's Miracle Network, the Royal LePage Shelter Foundation, and volunteered for years in the Soupeteria soup kitchen.
Much of Geoff's business involves repeat clients, and people he has met through a word-of-mouth recommendation. You will always feel well informed, and able to make decisions in a pressure-free environment, that's a promise.
Geoff would enjoy the opportunity to help you, when you feel the time is right!