- ©MLS 10386481
- Area 1778 sq ft
- Bedrooms 5
- Bathrooms 3
- Parkings 2
Description
MF3 DEVELOPMENT OPPORTUNITY IN TRANSIT CORRIDOR – (KLO AREA) Excellent opportunity to acquire a multi-family, multi-story development site in Kelowna’s rapidly evolving KLO Rd corridor. This property has already achieved MF3 zoning, allowing for near-term development potential in a high-demand rental and residential market. Situated within a designated transit supportive corridor, the site benefits from progressive planning policies supporting increased density and more flexible parking requirements (buyer to verify with City of Kelowna). FAR of 2.05 for residential development - and utilizing the rental bonus, an FAR of up to 2.35 is achievable. In conjunction with the neighboring MF3-zoned lot, and the addition of an adjacent third property on Holland road, (that the City will support rezoning to MF3) there is a significant increase in the overall development area to 0.98 acres. The assembly is located in an area experiencing strong redevelopment momentum, with excellent proximity to transit, amenities, schools and major transportation routes. The existing homes also provide holding income while development plans are advanced. This property can only be purchased in conjunction with both 3080 Holland Road, and 3090 Holland Road, as a land assembly. (id:48970) Show More
Details
- Constructed Date: 1968
- Property Type: Single Family
- Type: House
- Architectural Style: Multi-level
- Neighbourhood: Kelowna South
Ammenities + Nearby
- Public Transit
- Park
- Recreation
- Schools
- Shopping
- Public Transit
- Park
- Recreation
- Schools
- Shopping
Features
- Level lot
- See Remarks
Rooms Details For 1240 KLO Road
| Type | Level | Dimension |
|---|---|---|
| Primary Bedroom | Second level | 11'3'' x 11'2'' |
| Bedroom | Second level | 11'9'' x 8'10'' |
| Bedroom | Second level | 11'9'' x 9'3'' |
| 4pc Bathroom | Second level | 9'3'' x 7'1'' |
| 2pc Bathroom | Second level | 6'0'' x 3'2'' |
| Recreation room | Basement | 18'5'' x 9'10'' |
| Kitchen | Basement | 7'10'' x 10'9'' |
| Bedroom | Basement | 10'9'' x 8'4'' |
| Bedroom | Basement | 10'4'' x 8'3'' |
| 4pc Bathroom | Basement | 7'4'' x 4'5'' |
| Storage | Main level | 3'3'' x 7'4'' |
| Living room | Main level | 13'8'' x 16'2'' |
| Laundry room | Main level | 8'11'' x 5'11'' |
| Kitchen | Main level | 11'5'' x 8'7'' |
| Dining room | Main level | 11'5'' x 9'1'' |
Location
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Data provided by: Okanagan-Mainline Real Estate Board