675 MORAINE COURTKelownaBritish ColumbiaCanadaV1X 5X2
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The Land for Sale located at 675 MORAINE COURT Kelowna British Columbia V1X 5X2 Canada is currently for Sale, 675 MORAINE COURT Kelowna British Columbia V1X 5X2 Canada is listed for $1,178,333. If the property located at 675 MORAINE COURT Kelowna British Columbia V1X 5X2 Canada isn't what you're looking for, search Canada Real Estate to see other Land for Sale in Kelowna .
MLS#: 10318219
$1,178,333 USD
CA$1,600,000 CAD
- Minimum sellable space
- 1,902m² (0.47ac)
Property features
Area
- Land/Lot size
- 1,902m² (0.47ac)
Description
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. (id:42016)
Location
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