1022-1036 Lawson Avenue, Kelowna, BC - Two Lot Assembly in Central Kelowna Location

Two Lot Assembly in Central Kelowna Location

1022-1036 Lawson Avenue, Kelowna, BC, V1Y 6T4

Price:
$3,925,000

Property Description

HM Commercial Group is pleased to present this land assembly of TWO (2) rental properties with holding income and upside through redevelopment.

These lots are 180’ D (compared to 120’ for most) and because the Property is greater than 1,400 sq.metres with lane access, the City of Kelowna would consider an application for MF3 APARTMENT ZONING, which allows apartments up to 6 storeys in height, but support here is for up to 4 storeys.

Total Land Area: 0.56 acres (23,494 sq.ft)
Maximum Base Density (MF3): 1.75 FAR (1.3 FAR if 4 storeys)
Net Floor Area 42,690 sq.ft. Saleable Area
List Price: $3,9250,000 ($92/Saleable Sq.Ft)
Maximum Bonus Density (MF3): 0.3 FAR (7,318 sq.ft. Saleable Area)
Estimated Cost for Bonus: $27,222 ($3.72/Saleable Sq.Ft.)
Est’d Yield (650 sq.ft. Avg Size): 77 units ($51,371/unit)
Potential to increase assembly with MLS # 10243488

1022 Lawson Avenue, Kelowna, BC, Canada

Additional Information

Municipal Address 1022-1036 Lawson Avenue, Kelowna, BC, V1Y 6T4
Legal Description Lot 1 Plan KAP5065 District Lot 138 Land District 41 ODYD & Lot 10 Plan KAP2549 District Lot 138 Land District 41 ODYD
PID 002-599-899 & 005-500-532
Location Details The subject properties are well located near 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 23,494 SF or 0.56 acres
Land Area 24,494 SF or 0.56 acres
Zoning RU7, Infill Housing
Future Land Use
(OCP)
Sensitive Infill Housing (Low Density)

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.