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675 Moraine Court | $1,600,000
Al Vandermey Agent Photo
Al
Vandermey
C. (250) 809-4400
 P. (250) 494-0505
 Phone Al thevandermeys.ca
ROYAL LEPAGE PARKSIDE RLTY SML
Box 930, 9925 Main Street
 Summerland, BC
 Canada V0H 1Z0

Details

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Address 675 Moraine Court
AreaCentral Okanagan
Sub AreaRS - Rutland South
State/ProvinceBritish Columbia
CountryCanada
Price$1,600,000
Property TypeSingle Family - Detached
Bedrooms4
Bathrooms4
Half Baths1
Floor Space2834 Square Feet
Lot Size0.47 Acres
WaterfrontNo
Year Built1968
Taxes $5,237
Tax Year2024
MLS® #10318295

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

I was born on the West Coast of Beautiful British Columbia and now feel very fortunate to reside here in the South Okanagan.

Having almost 25 years of experience specializing in Real Estate in the communities of Summerland, Penticton, Naramata, OK Falls and Kaleden, I bring a multitude of skills to the table and a genuine desire to help my clients realize their dreams.

Prior to joining the Real Estate Industry in 1994, I gained valuable service experience as an in-flight service specialist for the airlines, which paved the way for a career in Real Estate.

"I learned how to provide my clients with unmatched service, second to none".

 Shannon here! Al is a tough negotiator, always working for you, and he gets the job done!

 


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