3D Showcase allows you to walk through the property in 3d
Salmon
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
Laura Salmon Epitomizes Integrity, Energy, Hard Work, Patience and Creative service in every detail of your real estate transaction. Laura has been a licensed Real Estate agent since 2008, starting in Alberta and following her heart to BC. Laura is Your #1 Choice for All your Real Estate Needs in The Kootenay’s.
Laura has consistently shown the ability to satisfy clients in buying and selling of their homes. She has the advantage of providing Real Estate services in BC & previously Alberta. Using her experience and foresight to proactively address details before they become a problem.
Whether you are buying or selling I understand the process can often be challenging and complicated. I focus on taking the pressure off of you, so you can make clear and concise decisions throughout the process. My clients receive the utmost care and accurate knowledge that is above and beyond. I look forward to helping you with All your Real Estate needs.