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 currently zoned RU1 (2560 Springfield Rd) & RU4 (685-675 Ziprick Rd). 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:47421)
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Detailed Information
Lot
169 x 0 ft
Amenities Nearby
Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area
Features
Level lot, Corner Site
Listing Contract Date
2023-05-31
Municipal ID
000-000-000
Ownership Type
Freehold
Property Type
Vacant Land
Transaction Type
For sale
Views
City view, View (panoramic)
Zoning
Unknown
Building
Type
Other
Utility Water
Municipal water
Utilities
Type
Description
Natural Gas
At Lot Line
Land
Total Size
0.65 acres
Amenities
Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area
Current Use
Development commercial
Landscape Features
Level
Sewer
Municipal sewage system
Size of Irregular Land
0.65
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