Over 21 acres lake view property located in West Kelowna

Vacant Land for Sale
Catylist Listing ID: 30200205
Property Subtypes: Multi-Family, Residential (Single Family), Retail
Gross Land Area: 21.23 Acres
Sale Price: $17,000,000
Unit Price: $800,753 Per Acre
Land Splits Available: Yes
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 5/1/2018

Overview / Comments

Over 21 acres property located in West Kelowna between Old Okanagan Hwy and Louie Drive. A large prime lot close to highway 97, with lake view and walking distance to all the amenities and shopping area. Used as a campground at the moment with duplexes and row housing, but there is a potential to build townhouses or develop a gated community for families and/or seniors. Some sections they will allow high-rises or perhaps some mixed-use. Easy to build and all services are on-site. Based upon a detailed development plan the seller will consider joint venture with a qualified buyer. Offered for sale 99-year pre-paid lease, 125-year lease can be negotiated. No Provincial Transfer Tax (PTT) and GST exemption may apply on the sale and re-sale. Generally, a much quicker, efficient, certain development process. In commercial application the land lease can be written off as an expense. Very save and secured investment. Walmart and Superstore are beside this development and are on a similar land lease. Please contact listing agent for a detailed explanation.

Attachments & Media

Additional Details

Nearest CMA: Kelowna
Regional District: Central Okanagan
Taxing Authority: WFN
Parcel ID: Lot 129, 8-1-6 CLSR 73879
Zoning: SH-H
Property Located Between: Okanagan Highway and Louie Drive
Property Visibility: Excellent
Legal Description: Lot 129, 8-1-6 CLSR 73879
Largest Nearby Street: Highway 97
Highway Access: Block away
Site Description: Lake view of Okanagan Lake. Slightly sloped towards the lake. Access from two roads. Great soil conditions for construction.
Area Description: Beside Walmart and close to other large retailers such as London Drugs, Home Depot, Canadian Tire, Superstore, restaurants etc.
Zoning Description: Single Family-High Density. Potential retail or mixed-use options.
Topography: Gently Sloping
Easements: Utilities
Soil Type: Gravel
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable
Water Service: Municipal
Sewer Type: Municipal


Contact

Photograph of Listing Agent

Bert Ter Horst

Sage Executive Group Real Estate Commercial First Member
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