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3339 Bothe Road | $950,000
Aron Alexander* Agent Photo
Aron
Alexander*
C. (250) 320-5022
 P. (250) 374-3331
 Phone Aron kamloopsrealtygroup.com
RE/MAX REAL ESTATE (KAMLOOPS)
258 Seymour Street
 Kamloops, BC
 Canada V2C 2E5

Details

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Years (35 year max)
Years



Address 3339 Bothe Road
AreaCentral Okanagan
Sub AreaSFS - Springfield/Spall
State/ProvinceBritish Columbia
CountryCanada
Price$950,000
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 $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

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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

Aron Alexander is not new to the entrepreneurial lifestyle having owned and operated multiple small businesses over the years including an incredibly successful cycling and ski shop in Prince George as well as a drilling company.

Having come from the interior of BC where he experienced a background in property development, new home construction and multiple home renovation flips, Aron decided that the thriving Kamloops area real estate market was where he wanted to be.  Not to mention his continued passion for the outdoors, Aron continues to explore the Kamloops region many biking trails and the lake life the area is so known for.

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