The Verve Condominiums in Kelowna
The Verve Yates Rd Kelowna
Lovely 2 bedroom, 2 bathrooms plus Den with valley views.
Fridge, stove, dishwasher and washer and dryer are included in the sale.
1 parking space.
Close to bus routes, shopping, and hiking.
The facilities include an outdoor pool and volleyball court.
Great opportunity for a university student or college student instead of paying rent, Buy a condo and rent out one of the rooms to a roommate.
December The Verve Update
There are only four units for sale right now in the Verve which is extremely low even after considering the time of year it is. Three of the units are two bedroom condos priced in the $326,000 to $329,900 range. The other is a one bedroom unit priced at $289,000.
There have been 33 sales in this complex over the past six months which averages out to 5.5 unit sales per month. In other words, there isn’t enough supply to meet the demand putting us in a seller’s market. The average sale price for the 49, two bedroom units, sold this calendar year is $305,000. Average sale price for the 22, one bedroom units, this year is $231,000. Selling a revenue property for sale over Christmas isn’t usually top of mind for most people but selling over the holidays, especially this year, is something you might want to consider if you were planning on selling during the spring when inventory levels will likely triple. If this is something you would like to discuss further, please contact me and I can go into further detail about what your particular condo might be worth.
Well Priced Condos
When you buy in The Verve you’re buying a lifestyle. This complex is conveniently located in Kelowna’s North Glenmore within walking distance of two grocery stores, Starbucks, Tim Hortons, Subway, TD Canada Trust, a frozen yogurt store, yoga, banks and a Thai restaurant.
Prices are reasonable and many first time buyers decide to jump into the housing market here because of the high price of single family detached residential housing. Prices start at approximately $229,000 for a one bedroom suite and upto $370,000 for a large two bedroom condo. It’s a pet-friendly wwwelopment and rentals are allowed in case your plans change and you need rental income.
This complex tends to attract young people just starting out and features an outdoor swimming pool, barbecues and a beach volleyball court. Some of the units feature views of the Glenmore valley, orchards, and Dilworth Mountain.
North Glenmore Location
The Verve is less than a ten minute drive from three elementary schools, Dr. Knox middle school, Downtown Kelowna, Knox Mountain hiking and Okanagan Lake. Kelowna Golf and Country Club is just down the road and Big White Ski Resort is 45 minutes away. Kelowna International Airport (YVR) is less than fifteen minutes away and Orchard Park Shopping Centre is about ten minutes away. If you’re without a car, Kelowna Transit has a bus stop directly in front on Yates Road.
Originally The Verve was marketed to seniors but it was first time buyers who made up the majority of initial purchasers. The Verve is an excellent investment and renting a unit is fairly easy considering Kelowna’s tight rental market. The biggest challenge is that the living space in the units is quite small with one bedroom units being about 600-650 square feet while two bedrooms are typically 850-900 square feet. Well priced units typically sell quickly and most buyers are thrilled with their purchase.