MLS: 10364441
2418 Drought Road
3000 sqft
$1,498,000
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 willing to lease back the commercial space at fair market rent, offering immediate stable income. Residential units 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. Strong holding property with cash flow, flexible use options, and future redevelopment potential in a rapidly growing urban market. (id:6770)
< 1 Acre New Investment Opportunities
Listed by Anish Somani
Engel & Volkers Vancouver
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Overview
- Price $1,498,000
- MLS # 10364441
- Age 1995
- Size 3000 sqft
- Exterior Brick, Vinyl siding
- Cooling Central Air Conditioning
- Water Municipal water
- Sewer Municipal sewage system
- Listing Agent Anish Somani
- Listing Office Engel & Volkers Vancouver
- Landscape Features Level
