Antrobus
129 Nanaimo Avenue W
Penticton, BC
Canada V2A 1N2
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
Live.
Work. Play. The South Okanagan is a dream in itself; many fantastic areas to
choose from; four distinct seasons; a great variety of indoor or outdoor
activities and lots of choice for shopping. The pursuit of investing in Real
Estate can be the most exciting and rewarding experience you will encounter. However,
finding a suitable property for your families wants and needs at a price you
can afford is sometimes a bit of a challenge. You need a Real Estate
representative who understands your desires, has a good eye for easy changes
that can be made to a property to fit your needs and to help you make the best
choice for your family. I am that Realtor®. I demonstrate a profound dedication
to all clients whether you are purchasing a dream home or selling a property to
move on to bigger and better dreams. With mutual honesty, loyalty and
accountability, I will answer your questions and follow your instructions
attentively.
If you are looking for a Real Estate
representative who knows the Okanagan Valley, has over 20 years of experience
working with sellers and buyers, will listen to your ideas, be aggressive in
her marketing and advertising, and give you all the attention you deserve, call
or text me at 250-488-0804, you won’t be disappointed!