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3339 Bothe Road Kelowna, British Columbia V1W 3M3

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6 Bedroom 3 Bathroom 2451 sqft
Central Air Conditioning Forced Air, See Remarks Landscaped, Level

$1,000,000

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. (id:52811)

Property Details

MLS® Number 10311452
Property Type Single Family
Neigbourhood Lower Mission
Amenities Near By Golf Nearby, Park, Recreation, Schools, Shopping
Community Features Rentals Allowed
Features Level Lot, Corner Site, Two Balconies
Parking Space Total 5
View Type Mountain View, Valley View, View (panoramic)

Building

Bathroom Total 3
Bedrooms Total 6
Appliances Refrigerator, Dishwasher, Dryer, Range - Electric, Washer
Basement Type Full
Constructed Date 1967
Construction Style Attachment Detached
Cooling Type Central Air Conditioning
Exterior Finish Stucco, Wood Siding
Flooring Type Ceramic Tile, Laminate
Heating Type Forced Air, See Remarks
Roof Material Asphalt Shingle
Roof Style Unknown
Stories Total 2
Size Interior 2451 Sqft
Type House
Utility Water Municipal Water

Parking

See Remarks
Attached Garage 1

Land

Access Type Easy Access
Acreage No
Land Amenities Golf Nearby, Park, Recreation, Schools, Shopping
Landscape Features Landscaped, Level
Sewer Municipal Sewage System
Size Frontage 73 Ft
Size Irregular 0.16
Size Total 0.16 Ac|under 1 Acre
Size Total Text 0.16 Ac|under 1 Acre
Zoning Type Multi-family

Rooms

Level Type Dimensions
Basement Full Bathroom 6'7'' x 7'3''
Basement Bedroom 8'1'' x 10'9''
Basement Bedroom 11'0'' x 10'10''
Basement Kitchen 13'3'' x 10'7''
Basement Dining Room 9'7'' x 11'2''
Basement Living Room 17'2'' x 10'10''
Main Level Bedroom 9'2'' x 9'3''
Main Level Bedroom 10'10'' x 9'2''
Main Level Bedroom 11'5'' x 9'6''
Main Level Full Bathroom 7'0'' x 9'8''
Main Level 3pc Ensuite Bath 3'0'' x 9'0''
Main Level Primary Bedroom 13'3'' x 14'2''
Main Level Kitchen 18'3'' x 10'4''
Main Level Dining Room 9'6'' x 10'9''
Main Level Living Room 17'9'' x 12'8''

https://www.realtor.ca/real-estate/26823394/3339-bothe-road-kelowna-lower-mission