Multi-Family
450 Montgomery Road
450 Montgomery Road, Kelowna, BC V1X 3C5
Listing Price: $1,690,000
Investment Overview
Institutional Property Advisors (IPA) and Marcus & Millichap (M&M) are pleased to present the exclusive opportunity to purchase 450 Montgomery Road, a DP approved development site in the growing neighbourhood of Rutland in Kelowna, BC. The property is in close proximity to Rutland Senior Secondary School, and Willow Park Shopping Centre.
Plans are in place for a total of 27,989 sf of gross buildable, encompassing 54 suites with a diverse suite mix, suitable for the wide array of tenant profiles in the area. A development permit has been approved and the site is positioned to take immediate advantage of the rental housing shortage in Kelowna.
Rutland is a central neighbourhood in Kelowna and in close proximity to UBC Okanagan, Kelowna International Airport, and Highway 97 for access throughout the Okanagan.
450 Montgomery Road
Investment Highlights
- Corner lot of 11,761 sf, in close proximity shopping, Rutland Senior Secondary School, and transit along Rutland Road N.
- Excellent suite mix of 54 units, including 20-Bachelor units, 17-1 bedrooms, 12-2 bedrooms, and 5-3 bedrooms.
- The area has seen significant population growth of 16% since 2016 and with interand intra-provincial immigration, housing shortages in Kelowna will continue to persist.
- With development approval in place, the site allows for almost immediate construction to begin, limiting expensive lag times and holding costs.
Exclusively Listed By
Listing Price: $1,690,000
Investment Highlights
- Corner lot of 11,761 sf, in close proximity shopping, Rutland Senior Secondary School, and transit along Rutland Road N.
- Excellent suite mix of 54 units, including 20-Bachelor units, 17-1 bedrooms, 12-2 bedrooms, and 5-3 bedrooms.
- The area has seen significant population growth of 16% since 2016 and with interand intra-provincial immigration, housing shortages in Kelowna will continue to persist.
- With development approval in place, the site allows for almost immediate construction to begin, limiting expensive lag times and holding costs.
Investment Overview
Institutional Property Advisors (IPA) and Marcus & Millichap (M&M) are pleased to present the exclusive opportunity to purchase 450 Montgomery Road, a DP approved development site in the growing neighbourhood of Rutland in Kelowna, BC. The property is in close proximity to Rutland Senior Secondary School, and Willow Park Shopping Centre. Plans are in place for a total of 27,989 sf of gross buildable, encompassing 54 suites with a diverse suite mix, suitable for the wide array of tenant profiles in the area. A development permit has been approved and the site is positioned to take immediate advantage of the rental housing shortage in Kelowna. Rutland is a central neighbourhood in Kelowna and in close proximity to UBC Okanagan, Kelowna International Airport, and Highway 97 for access throughout the Okanagan.
Exclusively Listed By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
