$925,000 Sale

Listed 103 days ago

511 & 545 Church Avenue

MLS® 10393143 Residential Commercial Mix

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Beds · 0

Baths · 0.0

Parking · 13

Sqft · 6737

Est. mortgage

$3,509/mo

Key Facts

Key facts for 511 & 545 Church Avenue

Property Type

Commercial

Parking

Garage: No, 13 parking

MLS #

10393143

Size

6737 sqft

Basement

Listed on

Lot size

Tax

Days on Market

Year Built

1930

Maintenance Fee

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:10452)

Full Property Details

Interior

Washrooms

0.0

Square Footage

6737 sqft

Heating Type

Forced air, See remarks

Air Conditioning

Central air conditioning, Wall unit, Window air conditioner

Full Bathrooms

Half Bathrooms

Washrooms

0.0

Square Footage

6737 sqft

Heating Type

Forced air, See remarks

Air Conditioning

Central air conditioning, Wall unit, Window air conditioner

Full Bathrooms

Half Bathrooms

Exterior

Acreage

0.3 ac|under 1 acre

Parking Spaces

Garage Spaces Y/N

Roof Material

Asphalt shingle

Acreage

0.3 ac|under 1 acre

Parking Spaces

Garage Spaces Y/N

Roof Material

Asphalt shingle

Building Description

Home Type

Commercial

Subtype

Residential Commercial Mix

Year Built

1930

Exterior

Stucco

Sewers

Municipal sewage system

Water Supply

Municipal water

Home Type

Commercial

Subtype

Residential Commercial Mix

Year Built

1930

Exterior

Stucco

Sewers

Municipal sewage system

Water Supply

Municipal water

Community

Oliver

Area Code

Oliver

Community

Oliver

Area Code

Oliver

Other

Virtual Tour Link

https://unbranded.youriguide.com/511_church_ave_oliver_bc

Virtual Tour Link

https://unbranded.youriguide.com/511_church_ave_oliver_bc

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Lana Pontello

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