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675 Moraine Court | $1,600,000
Rico Manazza Agent Photo
Rico
Manazza
C. (236) 457-4230
 P. (833) 817-6506
 Phone Rico riccardomanazza.com
EXP REALTY
645 Main Street
 Penticton, BC
 Canada V2A 5C9

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 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

Welcome! I'm Riccardo, a passionate real estate professional based in Kelowna, BC. With a deep fascination for the real estate market and a commitment to providing exceptional service, I'm dedicated to helping individuals and families find their perfect homes.

My enthusiasm and determination drive me to deliver top-notch results. As a former contractor with a degree in mechanical engineering, I bring a unique perspective to the real estate field. My attention to detail ensures that every aspect of your transaction is handled meticulously, leaving no stone unturned.
Specializing in the vibrant Kelowna market, I strive to be your trusted guide throughout the buying or selling process. I understand the value of a home and the significance it holds for you and your loved ones. My goal is to provide you with personalized service that goes above and beyond your expectations.
Continual growth and learning are important to me. I stay up-to-date with the latest trends, market conditions, mortgage rates, and government programs, ensuring that I provide you with accurate information and valuable insights. Rest assured, I'm dedicated to keeping you informed and empowered throughout your real estate journey.
When it comes to client service, I believe in building lasting relationships based on trust and transparency. Effective communication is a priority, and I utilize various channels such as phone calls, emails, and text messages with lots of emojis so that I can provide my clients with updates and ensure your peace of mind. I'm always available to address your questions and concerns promptly.
My mission is simple: to find the perfect home for you or to guide you through a successful investment. I understand the importance of making informed decisions, and I'm here to provide the information and guidance you need. Whether you're a first-time buyer or a seasoned investor, I'm committed to helping you achieve your real estate goals.
In my spare time, I'm passionate about educating people about the benefits of real estate investment. I firmly believe that real estate is an excellent long-term investment, as it holds its value, acts as a hedge against inflation, and provides the essential need for shelter. Through entertaining and informative videos, I aim to share valuable insights and help you make sound investment decisions. I'm a well versed investor in Real estate and all of it's complicated aspects. I have the been there done that attitude and if I didn't I know somebody that did. 
Thank you for considering me as your real estate professional. I look forward to the opportunity to work with you and be a part of your real estate journey. Let's connect and explore the exciting possibilities together!

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