$1,600,000 FOR SALE

Land

675 Moraine Court
Kelowna, BC V1X 5X2 | Rutland South

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:47423)

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Listed By Century 21 Assurance Realty Ltd, Royal LePage Kelowna
Data Provided By Association of Interior REALTORS®
MLS® Listing Number 10318219
Last Updated Sep 14, 2024
Property Summary
Property Type Land

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Neighbourhood Rutland South
Price History
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Detailed Information
Amenities Nearby Public Transit, Park, Schools, Shopping
Community Features Family Oriented
Features Cul-de-sac, Level lot
Listing Contract Date 2024-06-26
Municipal ID 003-338-207
Ownership Type Freehold
Property Type Vacant Land
Road Paved road, Cul de sac
Transaction Type For sale
Zoning Multi-Family
Building
Type Other
Utility Water Municipal water
Utilities
Type Description
CableAt Lot Line
ElectricityAt Lot Line
Natural GasAt Lot Line
TelephoneAt Lot Line
SewerAvailable
WaterAt Lot Line
Land
Total Size 0.47 acres
Access Type Easy access
Amenities Public Transit, Park, Schools, Shopping
Current Use Development residential
Landscape Features Landscaped, Level
Sewer Municipal sewage system
Size of Irregular Land 0.47

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