Radcliffe
P. (833) 817-6506
Phone Tricia Tricia@TheWoodTeam.ca http://TheWoodTeam.ca
645 Main Street
Penticton, BC
Canada V2A 5C9
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
Tricia is an advocate of active living and keeping it local. Ride, ski, hike, boat, eat, breathe, sip wine, enjoy our surroundings, that is her encouragement. She loves to share what's happening in her community with friends and family, and invite others to join in and experience what the Okanagan has to offer.
With a background in the service industry, Tricia believes that positive impact happens with a service attitude and is the number one value in how she runs her business. Likewise, skillful practice is paramount to maintaining excellent support, therefore, lifelong learning and new experiences are a constant in her career.
Tricia’s priorities in selling real estate are dependent on who she is serving, because what’s right for you may not align with someone else. Your priorities are her priorities, and you can have faith that she will look after your best interest. Selling, buying, both or neither, her commitment to serving you will not change, ensuring your transaction is a positive experience.