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3339 Bothe Road | $900,000
Lyndi Cruickshank* Agent Photo
Lyndi Cruickshank*
Lyndi Cruickshank*
C. (250) 809-1260
 P. (778) 622-3446
 Phone Lyndi lyndi.cruickshank@evrealestate.com lyndicruickshank.evrealestate.com
ENGEL & VOLKERS SOUTH OKANAGAN
467 Main Street
 Penticton, BC
 Canada V2A 5C4

Details

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Years



Address 3339 Bothe Road
AreaCentral Okanagan
Sub AreaSFS - Springfield/Spall
State/ProvinceBritish Columbia
CountryCanada
Price$900,000
Property TypeResidential Development
Lot Size0.16 Acres
WaterfrontNo
Taxes $2,398
Tax Year2023
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

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Data Source: Statistics Canada
THE DATA PROVIDED SHOULD BE USED AS A GUIDE ONLY. FOR UP TO DATE REFERENCE MATERIAL, CONSULT WITH INDIVIDUAL REGIONAL WEBSITES.
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About

Lyndi Cruickshank

Managing Broker, License Partner

Personal Real Estate Corporation


With a background in Marketing and Contract Negotiations, it is an honour to use my skills and passion for Real Estate as I continue into my 15th year as a REALTOR® and as a Managing Broker of Engel & Volkers South Okanagan. As a top, award winning Realtor, I have a reputation for providing superior results. Trained and Certified as a Master Certified Negotiation Expert, I am Committed to the success of every client I work with.

Currently I serve my profession in Real Estate as Vice President of the Association of Interior Realtors. While President of the South Okanagan Real Estate Board, in 2020, I was a part of the exciting work done to see two Interior Real Estate Boards merge, creating a more efficient and client focused experience for people wishing to purchase and sell property within the greater Okanagan region. My work with the South Okanagan Real Estate Board also included; Chair of the Membership Services and Education Committees and Co-Chair of the Professional Standards Committee. Having also served as an Alternate Director for the Regional District Okanagan Similkameen for 10 years and Chair of the Area F Park Commission for over 7 years, I believe strongly in giving back to my community.

Raised in the Okanagan, it was my dream as an adult to return to our beautiful valley. Having called Penticton home now for over 17 years, not a day goes by that I don’t appreciate all that our community has to offer. With 2 wonderful kids, Garrett and Madi and my husband John, we can often be found enjoying a weekend on the water in the summer and most often spend time during the winter enjoying all that Apex Mountain Resort has to offer.

My most important role in Real Estate is to help my clients make their property purchase or sale a positive and successful experience. I am excited to help get your home sold!

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