$1,600,000

ID# 10318295

675 Moraine Court
Kelowna, British Columbia V1X5X2

Located on a quiet street in the desirable Spring Valley neighbourhood, this sizeable 0.47 acre lot is the perfect site for your future townhouse development. The city supports rezoning this parcel to MF2 to accommodate up to 20,400sq ft GFA (Base FAR: 1.0). At two stories in height, this property can comfortably accommodate 14x 1,300sq ft townhouses, but greater density could be achieved if building up a 3rd story (up to FAR: 1.3 possible w/ Public Amenity or Rental Bonus). The existing house and sizeable workshop will provide solid rental income while you are perfecting your development plans, and proximity to shopping, restaurants, schools, parks, Mission Park Greenway, Orchard Park Mall, Costco, public transit, and much more will aide your future development in being a big success! The Property Transfer Tax Exemption on new construction means that a buyer can purchase a $650k townhouse with less than $45k down if they included the GST in their mortgage, and 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 $3k/mo (assuming 3.5% interest rate at time of project completion). Sample floor plans have been provided to demonstrate what is possible, but the size and shape of this lot affords considerable flexibility to realize your own development vision. (id:3942)

Courtesy of Century 21 Assurance Realty Ltd
Listed on: June 26, 2024

On market: 73 days

Bathroom Total	4
Bedrooms Total	4
Half Bathrooms Total	1
Year Built	1968
Cooling Type	Central air conditioning
Heating Type	Forced air
Stories Total	1

Family room	Basement	25'3'' x 12'
Utility room	Basement	11' x 10'6''
Laundry room	Basement	10'8'' x 10'5''
Den	Basement	10'6'' x 9'10''
3pc Bathroom	Basement	7'6'' x 6'9''
Bedroom	Basement	12'9'' x 11'11''
Partial bathroom	Main level	Measurements not available
Workshop	Main level	25' x 21'3''
3pc Bathroom	Main level	8'7'' x 6'
Bedroom	Main level	13'3'' x 10'9''
Bedroom	Main level	14'8'' x 10'7''
4pc Ensuite bath	Main level	8' x 7'6''
Primary Bedroom	Main level	18'2'' x 14'11''
Kitchen	Main level	11'10'' x 10'8''
Dining room	Main level	11'9'' x 9'
Living room	Main level	18' x 11'10''

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GREG KILMARTIN

SALES REPRESENTATIVE

Office: (250) 860-1100

greg.kilmartin@yahoo.ca

Royal LePage Kelowna

#1 – 1890 Cooper Road

Kelowna, BC V1Y 8B7

Phone: (250) 860-1100

Toll Free: (800) 421-3214

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675 Moraine Court Kelowna, British Columbia V1X5X2

675 Moraine Court
Kelowna, British Columbia V1X5X2