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675 Moraine Court | $1,600,000
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



Address 675 Moraine Court
AreaCentral Okanagan
Sub AreaRS - Rutland South
State/ProvinceBritish Columbia
CountryCanada
Price$1,600,000
Property TypeResidential Development
Lot Size0.47 Acres
WaterfrontNo
Taxes $5,237
Tax Year2024
MLS® #10318219

Located on a quiet street in the desirable Spring Valley neighbourhood, this sizeable 0.47 acre lot is the perfect site for your future townhouse development. The city supports rezoning this parcel to MF2 to accommodate up to 20,400sq ft GFA (Base FAR: 1.0). At two stories in height, this property can comfortably accommodate 14x 1,300sq ft townhouses, but greater density could be achieved if building up a 3rd story (up to FAR: 1.3 possible w/ Public Amenity or Rental Bonus). The existing house and sizeable workshop will provide solid rental income while you are perfecting your development plans, and proximity to shopping, restaurants, schools, parks, Mission Park Greenway, Orchard Park Mall, Costco, public transit, and much more will aide your future development in being a big success! The Property Transfer Tax Exemption on new construction means that a buyer can purchase a $650k townhouse with less than $45k down if they included the GST in their mortgage, and 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 $3k/mo (assuming 3.5% interest rate at time of project completion). Sample floor plans have been provided to demonstrate what is possible, but the size and shape of this lot affords 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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