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3339 Bothe Road

6 Bedroom | 3 Bathroom | 2451 sqft

$950,000

Offering a 1.89% assumable mortgage and strong rental income, this corner lot is the perfect holding property for future development. The land is already zoned to accommodate up to 6 townhouses and is located on a quiet street close to all that the South Pandosy neighbourhood has to offer—shopping, restaurants, beaches, schools, H2O Centre, public transit, and much more. Higher floors will enjoy beautiful pastoral views in almost every direction and will aide your future development in being a big success! Good rental revenue from the tenants in the existing house ensures that you can take your time perfecting your development plans and then build when the time is right. If the existing mortgage is assumed, the property will generate approximately $700/mo in positive cashflow until you are ready to redevelop it (based on current rental income and a 20% downpayment). The increased Property Transfer Tax Exemption on new construction means that a buyer can now purchase an $850k townhouse with less than $65k down if they included the GST in their mortgage. Furthermore, the upcoming change allowing high-ratio mortgages to amortize new construction over 30 years could result in said buyer’s mortgage payment being less than $4k/mo (assuming 4% interest rate at time of project completion). Sample floor plans have been provided to demonstrate what is possible, but the extensive street frontage of this lot provides considerable flexibility to realize your own development vision. (id:59060)

Property Details

MLS® Number

10311452

Neigbourhood

Springfield/Spall

AmenitiesNearBy

Golf Nearby, Park, Recreation, Schools, Shopping

CommunityFeatures

Rentals Allowed

Features

Level Lot, Corner Site, Two Balconies

ParkingSpaceTotal

5

ViewType

Mountain View, Valley View, View (panoramic)

Building

BathroomTotal

3

BedroomsTotal

6

Appliances

Refrigerator, Dishwasher, Dryer, Range - Electric, Washer

BasementType

Full

ConstructedDate

1967

ConstructionStyleAttachment

Detached

CoolingType

Central Air Conditioning

ExteriorFinish

Stucco, Wood Siding

FlooringType

Ceramic Tile, Laminate

HeatingType

Forced Air, See Remarks

RoofMaterial

Asphalt Shingle

RoofStyle

Unknown

StoriesTotal

2

SizeInterior

2451 Sqft

Type

House

UtilityWater

Municipal Water

Land

AccessType

Easy Access

Acreage

No

LandAmenities

Golf Nearby, Park, Recreation, Schools, Shopping

LandscapeFeatures

Landscaped, Level

Sewer

Municipal Sewage System

SizeFrontage

73 Ft

SizeIrregular

0.16

SizeTotal

0.16 Ac|under 1 Acre

SizeTotalText

0.16 Ac|under 1 Acre

ZoningType

Multi-family

Rooms

Level Type Dimensions
Basement Full Bathroom 6'7'' x 7'3''
Basement Bedroom 8'1'' x 10'9''
Basement Bedroom 11'0'' x 10'10''
Basement Kitchen 13'3'' x 10'7''
Basement Dining Room 9'7'' x 11'2''
Basement Living Room 17'2'' x 10'10''
Main Level Bedroom 9'2'' x 9'3''
Main Level Bedroom 10'10'' x 9'2''
Main Level Bedroom 11'5'' x 9'6''
Main Level Full Bathroom 7'0'' x 9'8''
Main Level 3pc Ensuite Bath 3'0'' x 9'0''
Main Level Primary Bedroom 13'3'' x 14'2''
Main Level Kitchen 18'3'' x 10'4''
Main Level Dining Room 9'6'' x 10'9''
Main Level Living Room 17'9'' x 12'8''

Interested?

Contact us for more information

Kyle photo 250.300.9234 kyle@pruskyproperties.com

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