3D Showcase allows you to walk through the property in 3d
Green*
302 Eckhardt Avenue West
Penticton, BC
Canada V2A 2A9
Details
Address | 3339 Bothe Road |
Area | Central Okanagan |
Sub Area | SFS - Springfield/Spall |
State/Province | British Columbia |
Country | Canada |
Price | $950,000 |
Property Type | Single Family - Detached |
Bedrooms | 6 |
Bathrooms | 3 |
Half Baths | 0 |
Floor Space | 2451 Square Feet |
Lot Size | 0.16 Acres |
Waterfront | No |
Year Built | 1967 |
Taxes | $2,398 |
Tax Year | 2023 |
MLS® # | 10311452 |
Offering a 1.89% assumable mortgage and strong rental income, this corner lot is the perfect holding property for future development. The land is already zoned to accommodate up to 6 townhouses and is located on a quiet street close to all that the South Pandosy neighbourhood has to offer—shopping, restaurants, beaches, schools, H2O Centre, public transit, and much more. Higher floors will enjoy beautiful pastoral views in almost every direction and will aide your future development in being a big success! Good rental revenue from the tenants in the existing house ensures that you can take your time perfecting your development plans and then build when the time is right. If the existing mortgage is assumed, the property will generate approximately $700/mo in positive cashflow until you are ready to redevelop it (based on current rental income and a 20% downpayment). The increased Property Transfer Tax Exemption on new construction means that a buyer can now purchase an $850k townhouse with less than $65k down if they included the GST in their mortgage. Furthermore, the upcoming change allowing high-ratio mortgages to amortize new construction over 30 years could result in said buyer’s mortgage payment being less than $4k/mo (assuming 4% interest rate at time of project completion). Sample floor plans have been provided to demonstrate what is possible, but the extensive street frontage of this lot provides considerable flexibility to realize your own development vision.
Listed by CENTURY 21 ASSURANCE REALTY LTD
Location
3D Showcase
About
John Green, Founder of Green Real Estate Group, has been passionately working as an agent for over 15 years under the principle of “not your typical REALTOR®.” The team is one of the most successful in the South Okanagan. John is most proud of the personal attention and care every client receives. The “clients before commissions” philosophy has grown the business faster than he could ever have imagined. His entrepreneurial side has led him to build several multi-family projects, rezone and subdivide properties for himself and clients, and market and sell Penticton’s largest subdivision to date. John and his team’s attention to detail and passion have helped them receive numerous awards for their work in the residential market including the honour of the #1 Commercial Real Estate Team in the South Okanagan for the past 3 years running.
John’s previous adventures working on a commercial fishing boat in Alaska and working in cinematography on Hollywood’s biggest films has prepared him to guide his clients with all their endeavours. Purchasing and selling homes is far more than bricks and mortar, it’s about people and their life goals.
John is married to an incredible and patient woman. Their 2 girls keep him busy and proud. Coaching his girl’s fastball and volleyball has hurt his golf game immensely; however, he said, “It’s worth it!”