3339 Bothe Road Kelowna, BC V1W 3M3
Listing Courtesy of: ASSOCIATION OF INTERIOR REALTORS / Century 21 Assurance Realty Ltd. / Kattlin Stass

  3339 Bothe Road Kelowna, BC V1W 3M3

Active (10 Days)
$1,000,000

Description

Offering a 1.89% assumable mortgage and strong rental income, this corner lot is the perfect holding property for future development. The land is already zoned to accommodate up to 6 townhouses and is located on a quiet street close to all that the South Pandosy neighbourhood has to offer—shopping, restaurants, beaches, schools, H2O Centre, public transit, and much more. Higher floors will enjoy beautiful pastoral views in almost every direction and will aide your future development in being a big success! Good rental revenue from the tenants in the existing house ensures that you can take your time perfecting your development plans and then build when the time is right. If the existing mortgage is assumed, the property will generate approximately $700/mo in positive cashflow until you are ready to redevelop it (based on current rental income and a 20% downpayment). The increased Property Transfer Tax Exemption on new construction means that a buyer can now purchase an $850k townhouse with less than $65k down if they included the GST in their mortgage. Furthermore, 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 $4k/mo (assuming 4% interest rate at time of project completion). Sample floor plans have been provided to demonstrate what is possible, but the extensive street frontage of this lot provides considerable flexibility to realize your own development vision.

MLS®:
10311461
Taxes
$2,398(2023)
Lot Size
6,970 SQFT
Type
Land
Views
Valley, Mountain(s)
County
Central Okanagan

Listed By

Kattlin Stass, Century 21 Assurance Realty Ltd.
Source
ASSOCIATION OF INTERIOR REALTORS
Last checked May 25 2024 at 4:35 AM PDT
Bathroom Details
Lot Information
  • Views
  • Secluded
  • Paved
  • Near Public Transit
  • Near Park
  • Near Golf Course
  • Level
  • Landscaped
  • Dead End
  • Corner Lot
  • Central Business District
Utility Information
  • Utilities: Water Source: Public, Water Available, Sewer Available, Phone Available, Natural Gas Available, High Speed Internet Available, Electricity Available, Cable Available
  • Sewer: Public Sewer
Location
   
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Disclaimer: Copyright 2024 Association of Interior Realtors. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 5/24/24 21:35