3D Showcase allows you to walk through the property in 3d
Hancock*
928 Baker Street
Cranbrook, BC
Canada V1C 1A5
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
Tyler’s past achievements include 7 year Gold Medal winner and 11 years in the “Top 50″ for the Kootenay Real Estate Board. Inducted into the Re/Max Hall of Fame (2001) and Re/Max Lifetime Achievement Award (2012). He has been involved with land development and is considered an expert in Buyer Agency. You won’t find many Realtors with this kind of background and experience that you will receive when working with Tyler.
Born in Saskatchewan, raised in Manitoba and living in Alberta for 15 years has developed Tyler into a true Western Canadian boy and he will most likely have some kind of connection with the buyer coming from these areas! Tyler has coached Hockey, Volleyball, Baseball and Basketball and was a director and vice president with Creston Valley Minor Hockey Association. Tyler and his family are passionate about golfing and skiing as well.