511 & 545 Church Avenue,Oliver, BC V0H1T0
Oliver, BC V0H1T0
Description
Phenomenal development opportunity in the heart of Canada's wine capital. Zoning changes and Official Community Plan modifications already in place: 511 Church rezoned TC/Town Centre: uses include apartment building, gallery, studio, office, childcare, recreation, hotel, personal service or retail. 545 Church rezoned RH2/High Density Residential: uses include apartment building, townhomes, and home occupation. Plans in place to convert existing church building to 8 purpose-built residential rentals (6 -1 bed, 1 bath , and 2 -2 bed, 2 bath), with dedicated parking spots, and to build new multi-level town homes with rooftop decks and garages on the adjacent 545 Church vacant lot. Upper level suites in the church conversion will incorporate 13.5 foot vaulted ceilings and stained glass windows. Resubmission of existing plans is the only requirement for building permits. Building as planned enables projected net annual cashflow north of $100,000 in residential rental income. Project revitalization would benefit from significant pre-paid soft cost investments including offsite levies, development charges and utility connections, and asbestos and radon remediations. Planned church conversion benefits from easement allowing for 5 additional parking spots in any development plans for 545 vacant lot. 511 and 545 Church parcels are also being offered for sale separately (mls#s: 10393499 and 10393467 respectively). All listing marketing measurements approximate. Buyer to verify. (id:374)
Details
| MLS # | 10393143 |
|---|---|
| Listing Type | For Sale |
| Style | Residential Commercial Mix |
| Status | Active |
| Year | 1930 |
| Days On Site | 112 |
| Listing Provided By | Royal LePage South Country | Kevin Somers |
Features
| SQ Feet | 6,737 |
|---|---|
| Acreage | 0.30 |
Interior
| Cooling | Central air conditioning, Window air conditioner, Wall unit |
|---|---|
| Heating | Forced air, See remarks |
| Fireplace Yes / No | No |
Exterior
| Roof | Asphalt shingle, Unknown |
|---|
Parking
| Parking Features | Rear, Street, Additional Parking |
|---|---|
| Parking Total | 13 |
Utilities
| Sewer | Municipal sewage system |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 4022.66 |
|---|
Area Information
| Province | BC |
|---|---|
| City | Oliver |
| Postal Code | V0H1T0 |
| Listing VS Median (in V0H1T0) | |
Price: $925,000 low | high Med: $630,000 sqft: 6,737 low | high Med: 2,075 $ / sqft: $137 low | high Med: $304 On site: 112 low | high Med: 226 | |
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Learn More About This Property
| Province | BC |
|---|---|
| City | Oliver |
| Postal Code | V0H1T0 |
| Listing VS Median (in V0H1T0) | |
Price: $925,000 low | high Med: $630,000 sqft: 6,737 low | high Med: 2,075 $ / sqft: $137 low | high Med: $304 On site: 112 low | high Med: 226 | |
