4
$2,600,000 Sale
Listed 154 days ago
1240 KLO Road
· 5
· 3.0
· 2
· 1778
Key Facts
Key facts for 1240 KLO Road
Property Type
House, Multi-level
Parking
Garage: Yes, 2 parking
MLS #
10386481
Size
1778 sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
1968
Maintenance Fee
-
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 rent...al 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:10452)
Room Types
2pc Bathroom
-
Dimensions 3'2'' x 6'0''
19 sqft
4pc Bathroom
-
Dimensions 4'5'' x 7'4''
32.39 sqft
4pc Bathroom
-
Dimensions 7'1'' x 9'3''
65.52 sqft
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Listing courtesy of: Royal LePage Kelowna
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