$3,488,000
Prime land assembly opportunity on the corner of Springfield and Ziprick, directly across from Mission Creek Regional Park. Whether you’re looking for a holding property, cash flow investment, or land to build on- this designated “Core Neighbourhood” parcel offers all the above. The land assembly is 0.651 acres (28,357 SF), & made up of two lots currently zoned RU1 (2560 Springfield Rd) & RU4 (685-675 Ziprick Rd). The Sellers have submitted a rezoning application to MF2 (FAR 1 + 0.15 bonus) & have architectural plans for a 16-unit (approx. 1500 SF each) townhouse development. In the meantime, the landlords are collecting approximately $11,052/month in rents = 132,624/yr. Gross cap rate = approx. 3.8. There are two bus stops within 80 m and the city has designated both Springfield & Ziprick as “Major Arterial” transportation networks with bike lane & infrastructure improvements on the horizon. Walking distance to Springvalley Elementary & Middle Schools, Costco, Orchard Park Mall, and across the road from 94 ha of trails at Mission Creek Regional Park. Across Ziprick is City owned property set aside for public service utilities & additional green space. Located halfway between UBCO & the future downtown campus (less than 8 km to both), 10 km from YLW (international airport), & 50 minutes to world-class Big White Ski Resort. This is a comprehensive & rare offering, sure to catch the attention of any savvy investor. What are you waiting for!? (id:50889)
Property Details
MLS® Number
10275593
Neigbourhood
Rutland South
Amenities Near By
Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski Area
Community Features
Pets Allowed, Rentals Allowed
Features
Level Lot, Corner Site
Parking Space Total
8
View Type
City View, View (panoramic)
Building
Bathroom Total
4
Bedrooms Total
8
Architectural Style
Split Level Entry
Basement Type
Full
Constructed Date
1988
Construction Style Attachment
Semi-detached
Construction Style Split Level
Other
Exterior Finish
Stucco
Flooring Type
Carpeted, Linoleum
Heating Fuel
Electric
Heating Type
Baseboard Heaters
Roof Material
Asphalt Shingle,tar & Gravel
Roof Style
Unknown,unknown
Size Interior
4400 Sqft
Type
Duplex
Utility Water
Municipal Water
Land
Acreage
No
Land Amenities
Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski Area
Landscape Features
Level
Sewer
Municipal Sewage System
Size Frontage
169 Ft
Size Irregular
0.65
Size Total
0.65 Ac|under 1 Acre
Size Total Text
0.65 Ac|under 1 Acre
Zoning Type
Unknown