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Deer Meadows Estates

$21,000,000

  • Kelowna
  • Land
  • 36.75 Acres
For Sale
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Property Description

Located in the highly desirable lakeside city of Kelowna, this 36.75-arce property consists of 230 home sites that will be built with high-quality and modern homes that are perfectly designed for the Okanagan lifestyle.

The Vendor will guarantee the Net Operating Income of $1,100,000 for the first three years through a sinking fund. The development is projected to be fully built out the property after three years.

property Highlights

  • Leasehold Land with 45 years remaining + 49-year option to renew at $1.00, for a total of 94 years
  • Modern, high-quality modular home to be built by Woodland Crafted Homes
  • $1,100,000 Guaranteed Net Operating Income for the first 3 years
  • Ferocious housing market in Central Okanagan will continue to prop up demand for manufactured home parks for years to come
  • Situated right on the highly popular Okanagan Rail Trail and minutes away from major employment nodes such as UBC Okanagan and Kelowna International Airport

PROPERTY ACCESS

The Property is currently accessible via Jim Bailey Road to the east through an easement. The Vendor is currently conducting a discussion with the landowner to create a secondary access from Hwy 97.