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3339 Bothe Road | $950,000
Ernie Sheridan Prec* Agent Photo
Ernie
Sheridan Prec*
C. (250) 488-1688
 P. (250) 492-2266
 Phone Ernie www.liveintheok.com
RE/MAX PENTICTON REALTY
302 Eckhardt Avenue West
 Penticton, BC
 Canada V2A 2A9

Details

%
Years (35 year max)
Years



Address 3339 Bothe Road
AreaCentral Okanagan
Sub AreaSFS - Springfield/Spall
State/ProvinceBritish Columbia
CountryCanada
Price$950,000
Property TypeSingle Family - Detached
Bedrooms6
Bathrooms3
Half Baths0
Floor Space2451 Square Feet
Lot Size0.16 Acres
WaterfrontNo
Year Built1967
Taxes $2,398
Tax Year2023
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

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About

Ernie was born in the South Okanagan and has resided here his entire life.  When asked about what he loves about the area he replied "I love its natural beauty. I think it’s one of the most beautiful places in Canada, if not the world. The diversity is so great. Here we are in the desert, the only desert in Canada and yet we have high alpine skiing close by. The mountains to the east are beautiful, as are the valleys that surround us. I love it all. The Okanagan sells itself because of its natural beauty."

He has 35 years of business experience and is a demonstrated negotiator both as a business owner and Realtor. Ernie is both responsible and personable, whether working with you to sell your home or looking for that special property, Ernie will always get you the best possible deal.

Ernie is a UBC Sauder School of Business Alumni as well as Okanagan College Penticton Campus.

He is an award-winning Realtor and consistently delivers superior service. He has strong Real Estate marketing and negotiating skills, professionalism and attention to detail. Ernie understands how important a Real Estate transaction is to his clients and ensures their needs are met and the best outcome possible is achieved.

Ernie believes one of the most important aspects of success is paying it forward. A donation is made from every sale to the Children’s Miracle Network.

Helping clients fall in love with the Okanagan, brings Ernie great satisfaction. If you have any Real Estate questions, please do not hesitate to call or email him anytime.  
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