3842 Gordon Drive Unit# 135

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$350,000

3842 Gordon Drive Unit# 135

Lower Mission, Kelowna · MLS® 10404608

all units at 3842 Gordon Dr →

221

1,159 sq ft · Condo · Single Family · built 1991 · 1 day on market

listed by Geoffrey Treadgold, Royal LePage Kelowna

realtor's description

Opportunity knocks in the Lower Mission! This 2-bedroom, 2-bathroom ground-floor corner condo is packed with potential. Just steps from the complex pool and minutes to beaches, shopping, schools, transit and recreation, the location is hard to beat. This foreclosure property needs renovations, but for the savvy buyer or investor, the upside is there. Bring your vision, roll up your sleeves and turn this into something special!

property details

type: Condo, Single Family
bedrooms: 2
bathrooms: 2
living area: 1,159 sq ft
parking: 1
year built: 1991
property tax: $2,172 / yr
strata rules: Pets Allowed
days on market: 1
MLS®: 10404608

features

One Balcony
Pets Allowed

the market here

listed now: 66 days; median for 514 condos for sale; this one 1 day

Condos in Kelowna. Sale prices register 1 to 3 months after a sale closes.

monthly cost

$1,721/mo

Mortgage $1,540 · Tax $181

20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing.

estimated payment

$1,540/ monthly

loan $280,000

25-year amortization

down payment20% · $70,00020%+ down: no mortgage insuranceinterest rate4.44%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 30, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $182,120
property transfer tax: $5,000; BC general rate
cash to close: $75,000; down + PTT
total paid: $462,120

first-time buyernewly builtforeign national

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

rent: $2,400/mo
after all costs: $452/mo
cap rate: 6.8%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $1,540 · tax $181 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Kelowna: CMHC's average there ($2,098) raised by what new tenants pay against everyone in the Kelowna area, then down 1.9% with Kelowna's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

BC rules for landlords

Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
Rent increases are capped once a year at the province's set amount. gov.bc.ca
The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca