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 (2 Days)
$1,000,000
6
BED
3
BATH
2,451
SQFT

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®:
10311452
Taxes
$2,398(2023)
Lot Size
6,970 SQFT
Type
Single-Family Home
Year Built
1967
Style
Bi-Level
Views
Mountain(s), Valley
County
Central Okanagan

Listed By

Kattlin Stass, Century 21 Assurance Realty Ltd.
Source
ASSOCIATION OF INTERIOR REALTORS
Last checked Jul 25 2024 at 2:37 AM PDT
Bathroom Details
  • Full Bathrooms: 3
Interior Features
  • Dishwasher
  • Dryer
  • Refrigerator
  • Washer
  • Electric Range
Lot Information
  • Landscaped
  • Central Business District
  • Dead End
  • Level
  • Near Park
  • Paved
  • Secluded
  • Corner Lot
  • Near Golf Course
  • Near Public Transit
Property Features
  • Foundation: Concrete Perimeter
Heating and Cooling
  • Forced Air
  • Natural Gas
  • Central Air
Basement Information
  • Full
  • Separate Entrance
Flooring
  • Laminate
  • Ceramic Tile
Exterior Features
  • Roof: Shingle
  • Roof: Asphalt
Utility Information
  • Utilities: Water Source: Public, Cable Available, High Speed Internet Available
  • Sewer: Public Sewer
Parking
  • Additional Parking
  • Attached
  • Garage
Stories
  • 2
Living Area
  • 2,451 sqft
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 7/24/24 19:37