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2560 Springfield Road | $3,488,000
Lynn Doering Agent Photo
Lynn
Doering
C. (250) 300-5032
 P. (778) 622-3446
 Phone Lynn www.lynndoering.ca
ENGEL & VOLKERS SOUTH OKANAGAN
467 Main Street
 Penticton, BC
 Canada V2A 5C4

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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Data Source: Statistics Canada
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

My clients are prioritized over all else. I listen and implement systems to help ensure the buying or selling process is as efficient and pressure free as possible. Clients can count on me to be available when they have questions. I am sincere, reliable and have a warm friendly approach. My business is built on communication and trust, with the goal of ensuring you feel confident with your decision to hire me. Real Estate is a business built on referrals and I strive to exceed expectations to earn trust and repeat business.  

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