| Oliver, BC V0H 1T0 | | | MLS #10393143, 10393467, 10393499 |
511 & 545 Church Avenue
| | | $925,000 | | | 6,737 Sq Ft |
Phenomenaldevelopment opportunity...
Located in the heart of Canada's Wine Capital, Oliver BC, this dual parceloffering consists of a nearly 7,000 square foot, 2 level character building originally built as a United Church, coupled with a vacant, adjacent development lot. Straddling Oliver's commercial core and quiet, downtown residential districts, these parcels present a truly unique development opportunity with significant projected long term investment income streams.
Rezoned asTC (Town Centre)...
...and benefitting from an already modified Official Community Plan, the existing structure at 511 Church allows for myriad end uses including apartment building, gallery, studio, office, childcare, recreation, hotel, personal service or retail.
511 Church Avenue, Oliver B.C.
The building offers numerous, oversized windows on both levels, flooding the space with natural light, and multiple exists already in place, making demising of the space that much easier, whatever your plans. Beautiful character features include stained glass windows and soaring 13.5 foot ceilings on the upper level.
The United Church of Canada continues to occupy the western half of the upper level under a lease agreement concluding in May of 2027. The lower level features wide open spaces, high ceilings, and advantageous positioning of existing support infrastructure, enabling ease of space partitioning and limiting demolition requirements. The current owners have also completed both asbestos and radon remediation making conversion that much easier.
Existing plumbing installations service 2 washrooms on the west end of the upper level, with a large commercial kitchen below, and a second set of washrooms at the east end of the building's lower level. Existing mechanical systems include forced air, natural gas heating, and central and wall unit air conditioning. The building is serviced by municipal water and sewer.
Plans are in place for conversion of the church building to 6 - 1 bed, 1 bath, and 2 - 2 bed, 2 bath rental units, each with their own private entrance and dedicated outdoor parking. Building as planned projects net annual rental income cashflow north of $100,000. Resubmission of existing architect's plans serves as the only trigger required for project resumption**. Significant project soft costs including offsite levies, development charges and utility connections are pre-paid.
Unique, high-demand,affordable rental housing
Across a shared rear alley, and fronting directly onto Church Avenue, 545 Church has also been rezoned as RH2 - High Density Residential, allowing for an apartment building or town homes, including home occupation based businesses.
Adjacent, vacant development lot
Home re-imagined...
Plans are in place to develop new, multi-level townhomes with double car garages and rooftop decks. An easement in place favours 5 parking spaces allocated to the 511 Church street rezoning and Official Community Plan updates.
511 and 545 Church Avenue,Oliver, Offered for sale togetherfor $925,000 (mls # 10393143),or separately:
511 Church at $725,000 (mls#10393467), 545 Church at $200,000 (mls# 10393499): a truly unique opportunity to assume a fully envisioned project, realize significant cashflow, and leave a meaningful mark on the evolution of Oliver in B.C.'s beautiful South Okanagan!
Open for business...
and poised for incredible growth, Canada's Wine Capital balances small town charm with abundant services and amazing recreational amenities. Situated halfway between Osoyoos and Penticton on the Interior's busiest thoroughfare, this is your opportunity to assume a truly unique, high impact, high income project in the beautiful, sunny South Okanagan!
Note: Not intended to solicit parties currently under contract. **Sellers make no representations or warranties re: state of project. Buyers advised to do own due diligence. Further info requires NDA.