Hudson Prec*
201 - 311 Main Street
Penticton, BC
Canada V2A 5B7
Details
Address | 675 Moraine Court |
Area | Central Okanagan |
Sub Area | RS - Rutland South |
State/Province | British Columbia |
Country | Canada |
Price | $1,600,000 |
Property Type | Single Family - Detached |
Bedrooms | 4 |
Bathrooms | 4 |
Half Baths | 1 |
Floor Space | 2834 Square Feet |
Lot Size | 0.47 Acres |
Waterfront | No |
Year Built | 1968 |
Taxes | $5,237 |
Tax Year | 2024 |
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
Location
About
MICAH HUDSON | ||
Micah is a full-time, professional real estate negotiator who helps home buyers and sellers make the best financial and lifestyle investment possible. As a research specialist of over 15 years, her data-informed approach helps people make these significant decisions with confidence and clarity. As a resident of the Okanagan for over 10 years she is well informed about both risks and opportunities in this region. Buying or selling a home is a very personal, often emotional decision. As a wife and mother of four, Micah has learned patience, perseverance, understanding and great communication; these are the essential qualities she exercises in every relationship. Micah has always been an entrepreneur with a love for business; in 2011 she co-founded an insulation company which experiencing tremendous growth year after year. She remains personally involved in the venture which continues to thrive in the Okanagan’s booming construction industry. Don’t leave your real estate transaction to chance: call Micah Hudson and get her experience and skill working for you! |