FOR SALE
residential investment 521 - 527 Hein Road, Kelowna, B.C.
Ken McLaughlin, B.Comm., ACP
[email protected] +1.250.870.7845
Kris McLaughlin, ACP
[email protected] +1.250.870.2165
www.CommercialBC.com
◊ INVESTMENT OPPORTUNITY UNDER $800,000.00 ◊ Small residential 4 plex investment ◊ This 1,835 square foot space is fully tenanted with long term tenants ◊ Landlord has improved the interiors with many upgrades. ◊ Zoned RM3 - Low Density Multiple Housing ◊ Asking: $755,000 + GST
RE/MAX Kelowna - #100 - 1553 Harvey Ave.Kelowna, B.C. V1Y 6G1 •
E.&O.E. The information above has been obtained from sources believed to be reliable. However, neither RE/MAX Commercial/RE/MAX Kelowna, Ken McLaughlin or Kris McLaughlin make any guarantees, warranties or representations about the accuracy. It is the responsibility of the reader to independently confirm and verify its accuracy, and to satisfy themselves as to its completeness. Any financial projections, assumptions, or estimates are used for example only and may or may not reflect the current or future performance of the property. All properties listed on MLS® unless otherwised stated.
FOR SALE
residential investment 521 - 527 Hein Road, Kelowna, B.C.
RE/MAX Kelowna - #100 - 1553 Harvey Ave.Kelowna, B.C. V1Y 6G1 •
E.&O.E. The information above has been obtained from sources believed to be reliable. However, neither RE/MAX Commercial/RE/MAX Kelowna, Ken McLaughlin or Kris McLaughlin make any guarantees, warranties or representations about the accuracy. It is the responsibility of the reader to independently confirm and verify its accuracy, and to satisfy themselves as to its completeness. Any financial projections, assumptions, or estimates are used for example only and may or may not reflect the current or future performance of the property. All properties listed on MLS® unless otherwised stated.
FOR SALE
residential investment 521 - 527 Hein Road, Kelowna, B.C.
RE/MAX Kelowna - #100 - 1553 Harvey Ave.Kelowna, B.C. V1Y 6G1 •
E.&O.E. The information above has been obtained from sources believed to be reliable. However, neither RE/MAX Commercial/RE/MAX Kelowna, Ken McLaughlin or Kris McLaughlin make any guarantees, warranties or representations about the accuracy. It is the responsibility of the reader to independently confirm and verify its accuracy, and to satisfy themselves as to its completeness. Any financial projections, assumptions, or estimates are used for example only and may or may not reflect the current or future performance of the property. All properties listed on MLS® unless otherwised stated.
FOR SALE
residential investment 521 - 527 Hein Road, Kelowna, B.C. City of Kelowna
Consolidated Zoning Bylaw No. 8000
13.9
RM3 – Low Density Multiple Housing
13.9.1
Purpose The purpose is to provide a zone for low density multiple housing on urban services.
13.9.2
Principal Uses The principal uses in this zone are: (a) (b) (c) (d) (e)
13.9.3
multiple dwelling housing congregate housing group home, major boarding or lodging houses supportive housing
Secondary Uses The secondary uses in this zone are: (a) (b) (c) (d)
agriculture, urban child care centre, major home based businesses, minor community recreation services
13.9.4 Buildings and Structures Permitted (a) (b) (c) (d) (e) 13.9.5
apartment housing row housing semi-detached housing stacked row housing permitted accessory buildings and structures
Subdivision Regulations (a) (b) (c) (d)
The minimum lot width is 30.0 m. The minimum lot depth is 30.0 m. The minimum lot area is 900 m2. A development in this zone may be subdivided into lots smaller than the subdivision regulations listed above provided that: i) a Party Wall Agreement is registered on title; and ii) the Subdivision occurs in accordance with Preliminary Layout Review Letter issued by the City of Kelowna; and iii) the site is comprehensively developed under a single development permit.
13.9.6
Development Regulations (a)
The maximum floor area ratio is 0.75. Where at least 75% parking spaces are provided totally beneath habitable space of a principal building, beneath useable common amenity areas, or in a garage/carport providing that in all cases, the parking spaces are screened from public view, the floor area ratio may be increased by 0.05.
Section 13 – Urban Residential Zones
Revised May 27, 2013
RE/MAX Kelowna - #100 - 1553 Harvey Ave.Kelowna, B.C. V1Y 6G1 •
E.&O.E. The information above has been obtained from sources believed to be reliable. However, neither RE/MAX Commercial/RE/MAX Kelowna, Ken McLaughlin or Kris McLaughlin make any guarantees, warranties or representations about the accuracy. It is the responsibility of the reader to independently confirm and verify its accuracy, and to satisfy themselves as to its completeness. Any financial projections, assumptions, or estimates are used for example only and may or may not reflect the current or future performance of the property. All properties listed on MLS® unless otherwised stated.
RM3-1
FOR SALE
residential investment 521 - 527 Hein Road, Kelowna, B.C. City of Kelowna
Consolidated Zoning Bylaw No. 8000 The floor area ratio may be increased by a further 0.1 for a development constructed in an Urban Centre (as defined by Kelowna’s Official Community Plan).
(b)
The maximum building site coverage is 40% but may be increased to a maximum of 50% if private open space for each unit can be provided on a deck, patio, balcony or rooftop deck which exceeds the bylaw requirement by 10%. The maximum site coverage of buildings, driveways, and parking areas is 60%. This may be increased by 5% (to a maximum of 65%) for permeable drive surfaces and parking.
(c)
The maximum height is the lesser of 10m or 3 storeys, except it is 4.5 m for accessory buildings and structures. Any portion of a building within 7.5m of an abutting lot with a Single/Two Unit, Resource Protection Area, or Hillside Residential designation in the City’s Official Community Plan must not be greater than 9.5m or 2 ½ storeys in height.
(d)
The minimum site front yard is 1.5m for ground-oriented housing with a front door facing the street. In any other circumstance, the site front yard is 4.5m or 6.0m for a garage or carport.
(e)
The minimum site side yard is 4.0m. From a flanking street it is 4.5m except it may be reduced to 1.5m from a flanking street for ground-oriented housing with a front door facing that street. The site side yard to a garage or carport is 6.0m. The minimum site side yard from a public lane is 1.2m. Where there is no direct vehicular access to the rear yard or to an attached garage or carport, one site side yard shall be at least 3.0m. Notwithstanding 13.9.6(g), side yards are not required on a lot line that has a party wall.
(f)
The minimum site rear yard is 7.5 m, except that it may be reduced to 3.0m from a public lane. The site rear yard is 4.5 m for common recreation buildings, and 1.5 m for other accessory buildings.
(g) 13.9.7
No principal building shall be closer than 3.0 m to another principal building.
Other Regulations (a)
No more than one major care centre is permitted per site.
(b)
An accessory building containing recreational amenities for the use of all residents shall conform to the setback requirements for principal buildings.
(c)
A minimum area of 7.5 m² of private open space shall be provided per bachelor dwelling, congregate housing bedroom or group home bedroom, 15.0 m² of private open space shall be provided per 1 bedroom dwelling, and 25.0 m2 of private open space shall be provided per dwelling with more than 1 bedroom.
Section 13 – Urban Residential Zones
Revised May 6, 2013
RE/MAX Kelowna - #100 - 1553 Harvey Ave.Kelowna, B.C. V1Y 6G1 •
E.&O.E. The information above has been obtained from sources believed to be reliable. However, neither RE/MAX Commercial/RE/MAX Kelowna, Ken McLaughlin or Kris McLaughlin make any guarantees, warranties or representations about the accuracy. It is the responsibility of the reader to independently confirm and verify its accuracy, and to satisfy themselves as to its completeness. Any financial projections, assumptions, or estimates are used for example only and may or may not reflect the current or future performance of the property. All properties listed on MLS® unless otherwised stated.
RM3-2
FOR SALE
residential investment 521 - 527 Hein Road, Kelowna, B.C. City of Kelowna (d)
Consolidated Zoning Bylaw No. 8000 In addition to the regulations listed above, other regulations may apply. These include the general development regulations of Section 6 (accessory development, yards, projections into yards, lighting, stream protection, etc.), the landscaping and fencing provisions of Section 7, the parking and loading regulations of Section 8, and the specific use regulations of Section 9.
RE/MAX Kelowna - #100 - 1553 Harvey Ave.Kelowna, B.C. V1Y 6G1 •
E.&O.E. The information above has been obtained from sources believed to be reliable. However, neither RE/MAX Commercial/RE/MAX Kelowna, Ken McLaughlin or Kris McLaughlin make any guarantees, warranties or representations about the accuracy. It is the responsibility of the reader to independently confirm and verify its accuracy, and to satisfy themselves as to its completeness. Any financial projections, assumptions, or estimates are used for example only and may or may not reflect the current or future performance of the property. All properties listed on MLS® unless otherwised stated.
FOR SALE
residential investment 521 - 527 Hein Road, Kelowna, B.C. Commercial Listings, Projects and Services managed by the McLaughlin Commercial Group and can be seen on its’ website include: • • • •
Commercial Properties for Sale and Lease Businesses for Sale Vacant Land Land Assembly
• • • •
Multi-Family Residential Industrial Projects Larger Commercial Development Projects ALR Submissions
The McLaughlin Commercial Group has earned a reputation for professional due diligence and expertise across a wide range of commercial real estate areas. Its’ approach in cooperative REALTOR®/Developer projects are driven by the principles of buying great sites and improving them through innovative, distinctive and superior developments. The combined multiple decades of experience from the team has gained it an entrepreneurial reputation throughout the Okanagan Valley. It’s common goals shared with clients over the many years is to develop property that is ahead of the market in design and structure, and to deliver a high-quality product that will ensure capital growth for both owner occupiers and investors alike. McLaughlin Commercial Group’s Eight Development Principles: 1. 2. 3. 4. 5. 6. 7. 8.
Position: Does the development occupy a prime location suitable for the target market? Timing: Are we one step ahead of the market in the style and type of development? Tenant Ability: Does it appeal to owners, investors and occupiers alike? Innovation: Will the project allow new concepts, features, and layouts to be incorporated? Site Specifics: Can the project develop an individual signature style not already on the market? Pricing: Will purchasers gain excellent value for their financial outlay? Point of Difference: Can we introduce new initiatives into the market? Demand: Can we capitalize on market trends, that is, does the development appeal to owner occupiers therefore ensuring strong rental prospects for the investor?
A Few of the Institutional and Commercial Relationships Developed by the McLaughlin Commercial Group Over the Years Include: • • • • • • • • •
Okanagan University College Roman Catholic Bishop of Nelson Granville Savings & Mortgage Corp. Glenmore Development Corp. Shell Canada/Action Super-Save Gas Stations TROIKA Developments Inc. Environment Canada Managing the submission of ALR applications Managing the re-zoning and/or subdivision process through the City of Kelowna and the Okanagan Regional District
• • • • • • • • • •
Public Works Canada, Acquisition & Disposition City of Vernon Huber Developments Ltd. KPMG Inc. Hawkeye Holdings Ltd. Roofing & Sheet Metal Ltd. TOMTAR Roofing & Sheet Metal Ltd. Cheviot Properties Ltd. Land assembly for future development and use Lunelli Enterprises Ltd. (Anthony’s Suzuki Subaru & Ironman Subaru)
RE/MAX Kelowna - #100 - 1553 Harvey Ave.Kelowna, B.C. V1Y 6G1 •
E.&O.E. The information above has been obtained from sources believed to be reliable. However, neither RE/MAX Commercial/RE/MAX Kelowna, Ken McLaughlin or Kris McLaughlin make any guarantees, warranties or representations about the accuracy. It is the responsibility of the reader to independently confirm and verify its accuracy, and to satisfy themselves as to its completeness. Any financial projections, assumptions, or estimates are used for example only and may or may not reflect the current or future performance of the property. All properties listed on MLS® unless otherwised stated.