Description

Potential of 6 Storeys with UC5 Zoning and base 1.8 F.A.R!! This 0.3 acre, UC5 property located in an excellent location by Okanagan College, Mission Park, beaches, KGH and Schools has great redevelopment potential for multifamily, daycare or care home. Lime Architecture Inc Site Analysis forthcoming for 15,000 sqft of larger 2,3,4 bedroom units with 15 parking stalls at grade. Higher densities are achievable. With long-term tenants in place, it is an excellent holding property. With its prime location and potential for development, this property is an excellent investment opportunity for those looking to capitalize on the growing demand for multifamily and care home properties in the area. Seller will consider a 2nd mortgage up to $300,000 at 4 % interest only for 2 years if sale closes by June 24.