$1,100,000

For sale

5940 Victoria Street, Peachland - Single Family for Sale

5940 Victoria Street, Peachland, British Columbia, V0H1X4

2 beds1 bath6 parking936 ft²16,117 sq ft (0.37 ac) lot sizeListed 45 days ago

Overview

This 2-bedroom, 1-bathroom home in Peachland is for sale offering roughly 936 sq ft of space. Its $1,100,000 asking price sits right in line with the $1,128,000 median in Peachland. It has been on the market 45 days, fresher than the Peachland average of 110 days.

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Description

Exciting development and investment opportunity in Peachland! This property features an existing renovated home that is currently rented, providing holding income while you explore the development potential. Zoned R1, the property has received a Preliminary Layout Review from the District of Peachland for a proposed two-lot subdivision, with the proposed lots meeting the required minimum dimensions. Importantly, District of Peachland Zoning Bylaw No. 2400 provides for a maximum density of up to four dwelling units on an R1 lot serviced with both municipal water and sewer. If the proposed subdivision is completed, each of the two resulting R1 lots could therefore have potential for up to four dwelling units, creating the potential for up to 8 units in total, subject to approvals and applicable requirements. Combined with BC’s Bill 44 housing legislation, this property offers significant future development potential. A new development featuring duplexes is also underway directly behind the property, highlighting continued residential growth in the area. An excellent opportunity for investors, builders or developers seeking rental income today and strong future development potential. Buyers are encouraged to verify permitted uses, density, servicing and development requirements with the District of Peachland. (id:66096)

Property Details

MLS®: 10397828
Property Type: Single Family
Bedrooms: 2
Bathrooms: 1
Half Baths: 0
Parking: 6
Interior Size: 936 ft²
Lot Size: 16,117 sq ft (0.37 ac)
Frontage: 130 ft
Year Built: 1945
Storeys: 1
Basement: Partial
Heating: Baseboard heaters, Electric, See remarks
Garage: Additional Parking
Ownership: Freehold
Property Tax: $2,783/yr
Listed: 45 days ago

Rooms

Second level

Loft: 39'0'' x 8'0''

Main level

Laundry room: 7'0'' x 9'0''
4pc Bathroom
Bedroom: 8'0'' x 9'0''
Primary Bedroom: 9'0'' x 11'0''
Kitchen: 11'8'' x 11'8''
Living room: 11'0'' x 13'7''

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Appliances: Washer, Refrigerator, Range - Electric, Dryer
Exterior: Stucco
Lot Features: Irregular lot size

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

45d

Peachland listings, avg age

110d

Price / ft²

$1,175

List price

$1.10M

Haho

This 2-bed single family in Peachland has been listed for 45 days, which is 65 days fresher than the city average of 110. Act while there is still low competition.

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Listed by REMAX Kelowna · Mike Sollitt

Location

Approximate location — exact address confirmed upon showing

Nearby Places

$1,100,000· $1,175/ft²

For sale

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Full Cost Breakdown

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Down Payment7.73% · $85,000

Min 7.73%50%

Mortgage payment$5,627/mo

↳ CMHC premium ($40,600 capitalized)

Property tax (est.)$232/mo

Total monthly$5,859

Cash Needed to Close

Down payment (7.73%)$85,000

Land transfer tax$20,000

Est. closing costs$5,800

Total cash needed$110,800

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