$2,600,000

1240 KLO Road, Kelowna

Kelowna South, Kelowna, BC V1V2V6

5 bd · 3 ba · 1,778 sq ft · Single-family home

Listed by Royal LePage Kelowna

About this property

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:67417)

Property details

Price

$2,600,000

MLS® number

10386481

Property type

Single-family home · House · Single Family

Ownership

Freehold

Bedrooms

5

Bathrooms

3

Living area

1,778 sq ft

Lot size

0.31 acres · 0.31

Frontage

134 feet

Year built

1968

Storeys

2

Parking spaces

2

Annual taxes

$3,932

Community

Kelowna South, Kelowna

Features

Style

Multi-level

Heating

Electric

Cooling

See Remarks

Parking

Attached Garage

Roof

Asphalt shingle, Unknown

Exterior

Stucco

Lot

Level lot

Water

Municipal water

Sewer

Municipal sewage system

Rooms

Level	Room	Size
Basement	Recreation room	9'10'' x 18'5''
Basement	Kitchen	10'9'' x 7'10''
Basement	Bedroom	8'4'' x 10'9''
Basement	Bedroom	8'3'' x 10'4''
Basement	4pc Bathroom	4'5'' x 7'4''
Main level	Storage	7'4'' x 3'3''
Main level	Living room	16'2'' x 13'8''
Main level	Laundry room	5'11'' x 8'11''
Main level	Kitchen	8'7'' x 11'5''
Main level	Dining room	9'1'' x 11'5''
Second level	Primary Bedroom	11'2'' x 11'3''
Second level	Bedroom	8'10'' x 11'9''
Second level	Bedroom	9'3'' x 11'9''
Second level	4pc Bathroom	7'1'' x 9'3''
Second level	2pc Bathroom	3'2'' x 6'0''

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