Custom-Built 4-Bedroom Home Steps Away from Lake Okanagan!! Potential Flip or Vacation Rental on a 1.3 Acre Lot in Naramata!! Assigned

  • $749,000
  • 4 beds
  • 4 baths
  • 3000+ sqft

Potential for major profit exists in this large, custom-built home on the Naramata Bench!! This 4 bedroom, 4 bathroom home sits on 1.3 acres, is just steps from Okanagan Lake, and even comes with its own waterfall. With the right cosmetic renovations, we believe that a flipper or vacation rental owner could generate some major profits!! One of BC’s prime wine regions, the Naramata Bench provides stunning lakefront living for those wanting to escape the hustle and bustle of the Lower Mainland and enjoy the finer things in life. The work-from-home trend and desire for more space have resulted in a booming real estate market in the Okanagan and it doesn’t appear to be letting up any time soon. With this property you can save over $100,000 on market pricing, so don’t miss outl!!

We are selling our assignable purchase contract.

Closing is October 14th, 2021
**As per our APS, the Seller is permitted to extend or shorten the closing 1 time by up to 15 calendar days. If the Seller is to extend the closing date, they must provide written notice at least 15 calendar days before the original closing date. If the Seller is to shorten the closing date, they must provide written notice at least 15 calendar days before the new closing date.**

PROPERTY FEATURES
Please note: According to the BC Assessment of this property, the first floor is the “basement” and the second floor is the “first floor” of this property, even though the “basement” is entirely above grade. They also do not have any listing for the third floor square footage, and we believe that what is listed on the assessment as square footage for the house is incorrect. This property has not been visited by our Acquisition Reps, and therefore the Buyer must verify all information below.
  • This property is only 200 meters away from Indian Rock Beach Access on Okanagan Lake!! (see HERE)
  • The property is located in Naramata, which is a small community dotted with wineries located in the Okanagan Valley wine region
  • 3-storey, custom-built home
  • 3+1 bedrooms
    • 3 bedrooms are located on the third floor
      • Each bedroom on the third floor features balcony or deck access
      • The master bedroom has a walk-in closet and an ensuite bathroom
    • 1 bedroom is located on the first floor as part of a non-legal suite that was created in 2012 (as per Seller)
  • 4 bathrooms
    • 4-piece master ensuite located on the third floor
      • This bathroom features a separate soaker tub and standing shower
    • 4-piece bathroom located on the second floor
    • Powder room located on the second floor
    • 3-piece bathroom located in the first floor suite
  • Built in 2002
  • Interior square footage: 3000+ sq ft (as per Seller)
    • First floor: 989 sq ft (as per BC assessment)
      • This floor is referred to as the “basement” by BC assessment, however it is fully above grade
    • Second floor: 1366 sq ft (as per BC assessment)
      • This floor is referred to as the “first floor” by BC assessment
    • Third floor: Approximately 1000 sq ft (as per Seller, not listed on BC assessment)
  • Crawl space:
    • Ceiling height is 5.5 ft (Buyer to verify)
    • Accessed from inside the attached garage
  • Fridge, oven, dishwasher, washer, and dryer will all be included upon closing
  • First floor non-legal suite was created in 2012 and features:
    • 1 bedroom
    • 1 bathroom
    • Kitchen
    • Utility room (where the furnace, HWT, and UV filter are)
      • This suite was never registered as it was occupied by family members only (as per Seller)
  • Wood burning fireplace located on the second floor, though it is currently not in use (last service date is unknown, as per Seller)
  • 100 AMP breaker panel
  • Gas furnace is owned and is original from 2002 (as per Seller)
  • HWT is owned and was replaced in 2021 (as per Seller)
  • UV filter for the water was replaced in 2021 (as per Seller)
  • The property has a heat pump that is not functioning properly (as per Seller)
  • Roof is original from 2002 (as per Seller)
  • Windows in the home are all original from 2002 (as per Seller)
  • Septic system was serviced in the last 2-3 years (as per Seller)
  • Water comes from a beautiful waterfall on the property that flows all year round (as per Seller)
  • Property features:
    • 2 decks connected to the second floor of the property
      • The hot tub is located on a second floor deck but has not been used in the past 5 years (the Seller does not know if it still works) — can be left for the Buyer or removed by the Seller
    • 1 deck that is connected to the third floor of the property
  • 2-car, attached garage
  • 4-car parking on long driveway
  • Lot size: 1.3 acres (as per BC assessment)
    • A good portion of the lot is flat while some of the lot is the side of a cliff (measurements/lot plan unavailable)
  • Zoning: SH2 (see HERE)
    • There are many permitted uses in this particular zone, which include but are not limited to: accessory dwelling, bed and breakfast operation, home occupation, secondary suites, accessory buildings or structures, as long as they meet all outline rules and regulations. From what we can see in this Zoning By-law, a secondary suite would likely be allowed. (see HERE, pg. 67-68) — Buyer to verify
PROPERTY NEEDS
  • Cosmetic updating
  • The siding under the main second floor deck requires repair
  • The heat pump requires repair or replacement

 

Please click HERE for more pictures and information.

Price:
$749,000
Address:
N Naramata Rd & Indian Rock Rd
Naramata, BC
Square Feet:
3000+
Lot Size:
1.3 acres
Bedrooms:
4
Bathrooms:
4
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
2002
Basement:
Crawl Space

Call (647) 400-2093 for more details

Property Location