675 Moraine Court | $1,600,000
Trong Nguyen PREC Agent Photo
Trong
Nguyen PREC*
C. (250) 488-0678
 P. (250) 300-3656
 Phone Trong www.trongrealestate.com
CANADA FLEX REALTY GROUP LTD
129 Nanaimo Avenue W
 Penticton, BC
 Canada V2A 1N2

Details

%
Years (35 year max)
Years



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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About

Thank you for taking the time to read this section. I started this life journey in Vietnam for the first five years. My parents decided to leave their home country to start a new life in Canada, setting down roots in the most beautiful place in Canada, the Okanagan Valley. It was in Kelowna, the largest City in the Okanagan, where I grew up with my two younger brothers.  While attending the local college I met my beautiful wife, Diane. I moved south to her hometown of Penticton and we've had two amazing kids who keep us busy!

My work journey started with many retail outlets but my career began in the banking industry, where I spent almost five years. I departed from the bank to try my hands at a Notary office and learn the back end of real estate. This is where I gained knowledge of land transfers and mortgage registrations. Eventually, I left the Notary office and became a mortgage broker and this experience gave me invaluable insight into underwriting loans, and procuring mortgages that fit my clients finances. While I was a mortgage broker, I felt I could provide honest, reliable and professional advice to buyers/sellers and that I could truly make a difference to those that wanted to buy or sell a home. After seeing my brother assist his clients as a realtor, I decided to make the move.

Buying or selling a home can be stressful, tiring and overwhelming. I fully understand this and so my primary mission is to ensure my clients have as smooth of a transaction as possible. To do this, I believe going above and beyond at every step of the process. I feel building a relationship with all of my potential and maintaining that relationship with my current clients is the key to accomplishing this mission. I view all my clients as good friends, and as such will do whatever it takes to help them out.

I am grateful and blessed to be able to live in a wonderful city and assist my friends in buying or selling their homes. If you or anyone else you know are interested in moving forward with buying or selling, please consider my services.