$3,095,000
Exciting Opportunity in the new MF4 Zoning! The owner is well into a Development Permit process for a 5-story building and now with new MF4 zoning this can now be mixed use commercial (main floor) and residential of up to 6 stories total, and minimal parking. Permitted density will be 2.5 F.A.R. or 26,853 sqft Very impressive preliminary plans available. Commercial will be permitted on the main floor. Two properties have been amalgamated to one title. The holding period can be profitable with excellent steady monthly income of approximately $10,000 attainable from the International Hostel ($6,000/month) and detached 3+2 bedroom home ($4,000/month). The Hostel can also be operated for much higher income and hostel revenue in the summer months ranges from $25k to $35k. (id:50889)
Property Details
MLS® Number
10306256
Neigbourhood
Kelowna North
Building
Type
Residential Commercial Mix
UtilityWater
Municipal Water
Land
Acreage
No
CurrentUse
Mixed Use
Sewer
Municipal Sewage System
SizeIrregular
0.27
SizeTotal
0.27 Ac|under 1 Acre
SizeTotalText
0.27 Ac|under 1 Acre
ZoningType
Unknown
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March 15 2024 06:58:17
Okanagan-Mainline Real Estate Board
Royal LePage Kelowna
