For Sale · Land

940 Skyline Road, West Kelowna

940 Skyline Road, West Kelowna, BC V1Z1J7

$429,000 total

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Asset Class

Land

Size

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Building class

A

Zoning

UR — Urban Reserve

$ / SF

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Occupancy

90%

Lot Size

0.23 ac

About this property

EXCEPTIONAL VALUE – PRICED $70,000 BELOW ASSESSED VALUE! Here is your opportunity to secure a beautiful piece of Lakeview Heights and build the home you've always wanted. Located at 940 Skyline Road, this walk-out building lot offers impressive views of Okanagan Lake, the city skyline and surrounding mountains. One of the biggest advantages? There is no rush to build! Take your time designing, choose your own builder and create a property that suits your needs and lifestyle. With R1 zoning, there are several possibilities to explore, including a rancher with a walk-out basement, a home with a secondary suite, a carriage house or a duplex, with or without suites (subject to City approvals). Whether you're dreaming of a beautiful retirement home, a place for your growing family or a property with added income potential, this lot gives you the opportunity to think outside the box and make it your own. The neighborhood offers an excellent lifestyle, with parks, playgrounds, pickleball and tennis courts, and recreation facilities nearby. Lakeview Village Market is an easy walk for your morning coffee, groceries or a bite to eat. Add in the nearby wineries, marinas, West Kelowna Wine Trail and Okanagan Lake, and you have all the ingredients for Okanagan living. Priced to sell and offering outstanding value in a desirable neighborhood, 940 Skyline Road is an opportunity worth a closer look. GST applicable. (id:66811)

Financial sandbox

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Estimate
Purchase price$429K
Down payment30% · $129K
Interest rate6.25%
Amortization25 years
Occupancy90%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$18K

Annual cash flow

$-6K

Cash-on-cash

-4.33%

DSCR

0.77

Going-in cap

4.24%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

136,611

Households

62,352

Median income

$114,500

Median age

35.6

Daytime population

163,330

5-yr growth

1.3%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 940 Skyline Road, West Kelowna.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.