Address
400-420 Laurel Road Kelowna, BC
Price
$ 4,950,000
Property Attributes
  • ID#10243911
  • TypeCondos
  • CityKelowna
  • NeighbourhoodRutland North
  • Postal CodeV1X 2V6
  • Style
  • Price$ 4,950,000
  • Bedrooms0
  • Bathrooms0
  • Half Bathrooms0
  • Lot Size0.89 Acres
Listing Provided Courtesy Of:
Macdonald Realty Kelowna
Data Source:
Canadian Real Estate Association
Property Description

Opportunity for a near 1 acre property with holding income and upside through redevelopment. CURRENT SITUATION: Eleven (11) townhouse rental units (all 2 BR/1.5 Bath, fully rented). Gross Income per Month of $18,730. 3.8% Yield after operating costs. REDEVELOPMENT ANALYSIS: The Property is 214 deep with approximately 180 of frontage and because its greater than 1,400 sq. metres, the City of Kelowna may consider an application for MF3 APARTMENT ZONING, which allows apartments up to 6 storeys in height, but support here would likely be for up to 4 storeys. Total Land Area: 0.89 acres (38,768 sq.ft) Maximum Base Density (MF3): 1.75 FAR (1.3 FAR if 4 storeys). Projection: 62,029 sq.ft. of Net Saleable Area (1.3 FAR with 0.3 bonus). $80.38/Saleable Sq.Ft including density bonusing. Estd Yield: 69 units (900 sq.ft. Avg Size) = $72,338/unit. (id:7434)

General Features

Ammenities Recreation, Shopping, Schools, Park, Public Transit
Building Type Multi-Family
Features Central location, Flat site
More Information Link https://www.realtor.ca/real-estate/23900105/400-420-laurel-road-kelowna-rutland-north
Neighbourhood Rutland North
Ownership Type Condominium/Strata
Property Type Multi-family

Interior Features

Building Fireplace Present False

Exterior Features

Land Amenities Recreation, Shopping, Schools, Park, Public Transit

Amenities

  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Pets
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Condos Average in V1X 2V6

Price
AVG $4.95M
$4.95M
Visits
AVG 29
28
Walkscore
AVG 52
52
Data Provided by Walkscore ® not using MLS data