675 Moraine Court | $1,600,000
Heena Nagar Personal Real Estate Corporation Agent Photo
Heena Nagar
Personal Real Estate Corporation*
C. (250) 488-9339
 P. (833) 817-6506
 Phone Heena Nagar WWW.HEENANAGAR.CA
EXP REALTY
645 Main Street
 Penticton, BC
 Canada V2A 5C9

Details

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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

Location

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About

Heena Nagar Personal Real Estate Corportation - Best of Penticton Award Winner 2023.

With a passion for helping people and a commitment to excellence, I strive to provide top-notch service and deliver successful outcomes as your trusted Realtor. Whether you're seeking your dream property or aiming to sell your current one, rest assured that my dedication remains unwavering.

Grounded in compassion, integrity, trust, and hard work, my core values guide every interaction and decision.

Having transitioned from a dynamic career in Toronto's financial sector to embracing the serene beauty of the Okanagan, I bring valuable insights into diverse environments and lifestyles. Recognizing the importance of time and prioritizing your needs underscore my approach.

Real estate has long captivated my interest, cultivated since my early property investments in my 20's. Beyond real estate, my passions extend to art, painting, outdoor pursuits, and cherishing moments with loved ones—including my faithful companion, Dusty, whom you might spot me walking along Lakeshore Dr.

Engagement within the community is integral to my ethos. Currently serving as Vice-President on the Board of Directors for the Penticton Art Gallery and contributing to the Children's Showcase nonprofit, I am dedicated to fostering a vibrant community while leading a balanced lifestyle.

Please don't hesitate to reach out with your real estate inquiries. I'm here to support you every step of the way.


Heena  -  “Helping You Live Your Beautiful Life”