1104-1130 Lawson Avenue & 1488 Aspen Court, Kelowna, BC - Prime Redevelopment Site with Holding Income (4% Cap Rate)
Pending

Prime Redevelopment Site with Holding Income (4% Cap Rate)

1104-1130 Lawson Avenue & 1488 Aspen Court, Kelowna, BC, V1Y 5T9

Price:
$3,700,000

Property Description

HM Commercial Group is pleased to present this opportunity for three (3) rental properties providing more than $12,900 in monthly income plus future upside as a medium density multi-family development.

  • 3 rental property assembly: 4 plex, duplex, 6 BR home
  • 25,167 sq.ft. land assembly in 3 titles
  • Walkable to schools, grocery anchored retail centre, downtown core, Lake Okanagan
  • Located on a major transit route with easy connections to UBC Okanagan
  • Corner location x 2
  • $153,000 in Gross Rent/Year ($12,900 /mth)
  • 4% Cap Rate after all expenses
  • $147/SF of land area, $105/saleable SF on 1.4 FAR

1104 Lawson Avenue, Kelowna, BC, Canada

Additional Information

Municipal Address 1104-1130 Lawson Avenue & 1488 Aspen Court, Kelowna, BC, V1Y 5T9
Legal Description Lot 9 , 10 & 11 Plan KAP14393 District Lot 137 Land District 41, ODYD
PID 009-026-029; 009-026-053; 009-026-088
Location Details The subject properties are well located across the street from Centuria Urban Village, and just 2 blocks from shopping and services at Capri Centre Mall. They are situated walking distance from Kelowna’s Downtown Core, and a variety of parks and recreation.
Development Site Area 0.58 acres
Land Area 25,167 SF or 0.58 acres
Zoning RU6, Two Dwelling Housing
Future Land Use
(OCP)
MRM, Multiple Unit Residential Medium Density
Taxes $10,778 (2020)

Listing Agents

Jeff Hudson PREC - Principal / Co-Founder at HM Commercial Group

Jeff Hudson

Marshall McAnerney PREC - Principal / Co-Founder at HM Commercial Group

Marshall McAnerney

Request More Info

If you would like more information about this listing or to request a viewing, please fill out the form below. You can also reach us at 250.712.3130 or by email info@hmcommercial.com.