Overview
Price
$2,600,000
Bedrooms
5
Bathrooms
3
Square Footage
1,778 sqft
About this House in Kelowna South
MF3 DEVELOPMENT OPPORTUNITY IN TRANSIT CORRIDOR – (KLO AREA) Excellent opportunity to acquire a multi-family, multi-story development site in Kelowna’s rapidly evolving KLO Rd corridor. This property has already achieved MF3 zoning, allowing for near-term development potential in a high-demand rental and residential market. Situated within a designated transit supportive corridor, the site benefits from progressive planning policies supporting increased density and m…ore flexible parking requirements (buyer to verify with City of Kelowna). FAR of 2.05 for residential development - and utilizing the rental bonus, an FAR of up to 2.35 is achievable. In conjunction with the neighboring MF3-zoned lot, and the addition of an adjacent third property on Holland road, (that the City will support rezoning to MF3) there is a significant increase in the overall development area to 0.98 acres. The assembly is located in an area experiencing strong redevelopment momentum, with excellent proximity to transit, amenities, schools and major transportation routes. The existing homes also provide holding income while development plans are advanced. This property can only be purchased in conjunction with both 3080 Holland Road, and 3090 Holland Road, as a land assembly. (id:14735)
Listed by Royal LePage Kelowna.
MF3 DEVELOPMENT OPPORTUNITY IN TRANSIT CORRIDOR – (KLO AREA) Excellent opportunity to acquire a multi-family, multi-story development site in Kelowna’s rapidly evolving KLO Rd corridor. This property has already achieved MF3 zoning, allowing for near-term development potential in a high-demand rental and residential market. Situated within a designated transit supportive corridor, the site benefits from progressive planning policies supporting increased density and more flexible parking requirements (buyer to verify with City of Kelowna). FAR of 2.05 for residential development - and utilizing the rental bonus, an FAR of up to 2.35 is achievable. In conjunction with the neighboring MF3-zoned lot, and the addition of an adjacent third property on Holland road, (that the City will support rezoning to MF3) there is a significant increase in the overall development area to 0.98 acres. The assembly is located in an area experiencing strong redevelopment momentum, with excellent proximity to transit, amenities, schools and major transportation routes. The existing homes also provide holding income while development plans are advanced. This property can only be purchased in conjunction with both 3080 Holland Road, and 3090 Holland Road, as a land assembly. (id:14735)
Listed by Royal LePage Kelowna.
Brought to you by your friendly REALTORS® through the MLS® System and OMREB (Okanagan Mainland Real Estate Board), courtesy of Gary Judge for your convenience.
The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
More Details
- MLS®: 10386481
- Bedrooms: 5
- Bathrooms: 3
- Type: House
- Square Feet: 1,778 sqft
- Lot Size: 0.31 acres
- Full Baths: 3
- Half Baths: 0
- Parking: 2 (Attached Garage)
- Storeys: 2 storeys
- Year Built: 1968
Rooms And Dimensions
- Primary Bedroom: 11'3'' x 11'2''
- Bedroom: 11'9'' x 8'10''
- Bedroom: 11'9'' x 9'3''
- 4pc Bathroom: 9'3'' x 7'1''
- 2pc Bathroom: 6'0'' x 3
Get in touch with JUDGE Team
250.899.3101Location and Amenities
Amenities Near 1240 KLO Road
Kelowna South, Kelowna
Here is a brief summary of some amenities close to this listing (1240 KLO Road, Kelowna South, Kelowna), such as schools, parks & recreation centres and public transit.
This 3rd party neighbourhood widget is powered by HoodQ, and the accuracy is not guaranteed. Nearby amenities are subject to changes and closures. Buyer to verify all details.
