675 Moraine Court

Single Family For Sale in Kelowna, British Columbia

$1,600,000
  • 4 Beds
  • 4 Baths
  • 2,834 Sq. Ft.
  • Built 1968
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:4069)
Address 675 Moraine Court
List Price $1,600,000
Property Type Single Family
Type of Dwelling House
Area British Columbia
Sub-Area Kelowna
Bedrooms 4
Bathrooms 4
Floor Area 2,834 Sq. Ft.
Lot Size 0.47 Sq. Ft.
Year Built 1968
MLS® Number 10318295
Listing Brokerage Century 21 Assurance Realty Ltd | Royal LePage Kelowna
Postal Code V1X5X2
Site Influences Public Transit, Park, Schools, Shopping
Features Cul-de-sac, Level lot

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Zia Fayaz

2 PERCENT REALTY INTERIOR INC

Kamloops BC V3V 0B6

Mobile: 250-488-6417

Office: 250-488-6417

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