3D Showcase allows you to walk through the property in 3d
Gentles*
601 Baker Street
Nelson, BC
Canada V1L 4J3
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
For 43 years I have been committed to providing my clients and customers with the highest level of personal service, professional representation and technical expertise in a no pressure environment. I like to play Devils Advocate for my clients to keep them grounded during what is usually a highly charged emotional process ensuring they have weighed all of their options.
With compassion and caring I seek to understand and satisfy your every need. For a no pressure experience please make me your Kootenay REALTOR®.
I provide real estate services such as Homes for Sale, Commercial Properties for Sale, Land for Sale and Advice on Real Estate in Nelson, BC as well as Kaslo, Salmo, Slocan, Passmore, Castlegar, Winlaw, Kootenay Lake Region and the Slocan Valley.
Whether buying a home or selling your property, drop by or email and let me be "Your key to the Kootenays®"!