Prime land assembly opportunity on the corner of Springfield and Ziprick, directly across from Mission Creek Regional Park. Whether you’re looking for a holding property, cash flow investment, or land to build on- this designated “Core Neighbourhood” parcel offers all the above. The land assembly is 0.651 acres (28,357 SF), & made up of two lots (2560 Springfield Rd & 685-675 Ziprick Rd) currently zoned MF1. City Council has been supportive of rezoning to MF2 (FAR 1 + 0.15 bonus) & Seller's have architectural plans for a 16-unit (approx. 1500 SF each) townhouse development. In the meantime, the landlords are collecting approximately $11,052/month in rents = 132,624/yr (total). Gross cap rate = approx. 3.8. There are two bus stops within 80 m and the city has designated both Springfield & Ziprick as “Major Arterial” transportation networks with bike lane & infrastructure improvements on the horizon. Walking distance to Springvalley Elementary & Middle Schools, Costco, Orchard Park Mall, and across the road from 94 hectares of trails at Mission Creek Regional Park. Across Ziprick is City owned property set aside for public service utilities & additional green space. Located halfway between UBCO & the future downtown campus (less than 8 km to both), 10 km from YLW (international airport), & 50 minutes to world-class Big White Ski Resort. This is a comprehensive & rare offering, sure to catch the attention of any savvy investor. What are you waiting for!? (id:2493)
Property Type:
Single Family
Common Interest:
Freehold
Property Attached:
No
Total Living Area:
2,240 sq. ft.208.103 m2
Transaction Type:
For sale
Zoning:
Unknown
Ownership Type:
Freehold
Taxes:
$4,091.02 /
-
Community:
Rutland South
Amenities:
Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area
Exterior Features:
Stucco, Composite Siding
Community Features:
Pets Allowed, Rentals Allowed
View:
City view, View (panoramic)
Structure Type:
House
Home Style:
Split level entry
Age:
52 years
Bedrooms:
5
Bathrooms:
3.0
Half Bathrooms:
0
Roof:
Asphalt shingle, Unknown
Construction Style Attachment:
Detached
Construction Style Split Level:
Other
Cooling:
Wall unit
Exterior Finish:
Stucco, Composite Siding
Fireplace:
No
Floor finish:
Tile, Laminate, Carpeted, Vinyl
Heating:
Baseboard heaters, Electric
Roof Style:
Asphalt shingle, Unknown
Water:
Municipal water
Sewer:
Municipal sewage system
Basement:
Full
Land Amenities:
Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area
Data was last updated October 31, 2024 at 02:15 AM (UTC)
Area Statistics
Listings on market:
78
Avg list price:
$344,950
Min list price:
$239,000
Max list price:
$3,488,000
Avg days on market:
72
Min days on market:
1
Max days on market:
525
Avg price per sq.ft.:
$452.73
These statistics are generated based on the current listing's property type
and located in
Rutland South. Average values are
derived using median calculations.
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