3D Showcase allows you to walk through the property in 3d
McGinn
P. (250) 495-7441
Phone Eileen eileenmcginn@remax.net https://eileenmcginn.remax.ca/
8507 A Main St., Po Box 1099
Osoyoos, BC
Canada V0H 1V0
Details
Address | 3339 Bothe Road |
Area | Central Okanagan |
Sub Area | SFS - Springfield/Spall |
State/Province | British Columbia |
Country | Canada |
Price | $900,000 |
Property Type | Residential Development |
Lot Size | 0.16 Acres |
Waterfront | No |
Taxes | $2,398 |
Tax Year | 2023 |
MLS® # | 10311461 |
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 $1,200/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
Eileen McGinn, a highly motivated and resourceful real estate professional serving the Osoyoos market and surrounding areas, is passionate about assisting buyers and sellers in achieving their real estate goals. She is known for providing top-notch service and treating each client as a priority. Her attention to detail and determination play an important role in her ability to match clients with their dream properties. She is a compassionate advocate as well as a tough negotiator, and she consistently achieves superior results for her clients.
A former Vice President with a publicly traded Corporation, Eileen brings recognized strengths in dealing with land development, housing, and financing. For her, though, it’s the outcomes she creates for her clients that matter most. Pairing white-glove service with the relentless drive to exceed her clients’ expectations, she guides every client with the expertise they need to make the best decision for their future.
As a Master Certified Negotiating Expert (MCNE), Eileen works hard in the best interest of her clients to provide a positive real estate experience each time. With over 35 years of experience in the industry, she has perfected the maxims of connecting people with excellent real estate opportunities. Using her vast local market knowledge, she has earned a Five Star Ranking from her clients through RankMyAgent.com and has achieved the REMAX Chairman’s Club, PLATINUM Club & 100% Awards. Eileen a member of prestigious REMAX Hall of Fame and the first recipient of the REMAX Community Citizenship award in in recognition of her outstanding community engagement and fundraising leadership.
----Remember When Buying or Selling a Home, Experience Has Its Rewards!