This particular property is classified as a Condominium/Strata in terms of ownership.
There is a unique opportunity available for developers to acquire a 2-lot land assembly, totaling 0.44 acres, which is designated as a multifamily development site zoned under UC. Situated in Rutland Central, in close proximity to Hwy 97, this corner lot land assembly currently has two tenant-occupied homes that generate a combined rent of $9,340. The proposed 6-storey multifamily building on this site will offer 56 homes, with a 2.10 FAR on 45,933 Sqft. Additionally, there is a bonus FAR available up to 2.50 FAR. The distance to UBC Okanagan is approximately 7 minutes, and it is about an 8-minute drive to Kelowna Airport. The land assembly consists of 2 lots: 545 Froelich Rd (10303615) and 425 Leathead Rd. (id:27476).
This property is currently listed for sale and features a land size of 0.22 acres, falling under the category of "under 1 acre." It is situated on 425 Leathead Road in the city of Rutland, located in the province of British Columbia. The postal code for this property is V1X2J3. In terms of heating, this property is equipped with a heating type of No heat and is a 1.00 story structure. Classified as a Multi-Family property, it presents an exciting opportunity for developers and investors.
