Live, Work and Invest In One Location. Mixed-use commercial/residential investment in downtown West Kelowna on a high-exposure corridor with excellent access, transit, amenities, and ample on-site parking. C1 zoning allows for a wide range of uses including medical, dental, legal, physio, chiropractic, childcare, education, restaurant, pub, retail, personal services, entertainment, and more, plus apartment or care facility development potential for long-term upside. Building totals approx. 2,680 sq ft with ~1,200 sq ft commercial space on the main floor and two residential suites above (~1,480 sq ft) providing diversified income. Ideal for an owner-operator to occupy the commercial unit while generating revenue from the residential units, or as a pure investment. The current owner is prepared to enter into an above market lease with the new owner offering an immediate stable income source. Residential units are both on month-to-month tenancies: Suite 1: 2 bed, 1 bath, in-suite laundry, Suite 2: 1 bed, 1 bath, in-suite laundry. Extensively updated in 2019 with PEX plumbing, upgraded electrical service, two new furnaces, and newer A/C units, providing a low-maintenance, turn-key asset. Reach out today on this strong holding property with cash flow, flexible use options, and future redevelopment potential in a rapidly growing urban market. (id:4069)
Address
2418 Drought Road
List Price
$1,474,000
Property Type
Other
Transaction Type
Sale
Area
British Columbia
Sub-Area
West Kelowna
Floor Area
3,000 Sq. Ft.
Lot Size
0.14 Sq. Ft.
Year Built
1995
MLS® Number
10387141
Listing Brokerage
Engel & Volkers South Okanagan
Postal Code
V4T1P6
Site Influences
Public Transit, Park, Recreation, Schools, Shopping
Features
Level lot
