$925,000

511 & 545 Church Avenue, Oliver

Oliver, Oliver, BC V0H1T0

6,737 sq ft · Single-family home

Listed by Royal LePage South Country

About this property

Phenomenal development opportunity in the heart of Canada's wine capital. Zoning changes and Official Community Plan modifications already in place: 511 Church rezoned TC/Town Centre: uses include apartment building, gallery, studio, office, childcare, recreation, hotel, personal service or retail. 545 Church rezoned RH2/High Density Residential: uses include apartment building, townhomes, and home occupation. Plans in place to convert existing church building to 8 purpose-built residential rentals (6 -1 bed, 1 bath , and 2 -2 bed, 2 bath), with dedicated parking spots, and to build new multi-level town homes with rooftop decks and garages on the adjacent 545 Church vacant lot. Upper level suites in the church conversion will incorporate 13.5 foot vaulted ceilings and stained glass windows. Resubmission of existing plans is the only requirement for building permits. Building as planned enables projected net annual cashflow north of $100,000 in residential rental income. Project revitalization would benefit from significant pre-paid soft cost investments including offsite levies, development charges and utility connections, and asbestos and radon remediations. Planned church conversion benefits from easement allowing for 5 additional parking spots in any development plans for 545 vacant lot. 511 and 545 Church parcels are also being offered for sale separately (mls#s: 10393499 and 10393467 respectively). All listing marketing measurements approximate. Buyer to verify. (id:67417)

Property details

Price

$925,000

MLS® number

10393143

Property type

Single-family home · Residential Commercial Mix · Other

Living area

6,737 sq ft

Lot size

0.3 acres · 0.3

Year built

1930

Parking spaces

13

Annual taxes

$4,023

Community

Oliver, Oliver

Features

Heating

Forced air, See remarks

Cooling

Central air conditioning, Window air conditioner, Wall unit

Parking

Rear, Street, Additional Parking

Roof

Asphalt shingle, Unknown

Exterior

Stucco

Water

Municipal water

Sewer

Municipal sewage system

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