651 Richter Street

About this home

DOWNTOWN KELOWNA LOCATION, CORNER LOT, AND SIGNIFICANT FUTURE DEVELOPMENT POTENTIAL - this one is worth a look! This 2,093 sqft. raised bungalow sits directly beside Knox Mountain and offers a flexible layout for investors, homeowners, or developers. The main level features 2 bedrooms, 1 bathroom, an oversized living room, dining area, and kitchen with access to an 8' x 16' covered rear deck. Downstairs offers an additional bedroom and bathroom, large recreation room, and kitchenette, perfect for a separate suite. Recent updates include a new bathroom, new hot water tank, and new A/C motor in 2026. The furnace was replaced in 2015 and the roof in 2007. A covered carport accommodates up to 3 vehicles, with 2 additional parking spaces. Set in a quiet, established neighbourhood just minutes from downtown, with Knox Mountain hiking trails, the dog park, free boat launch, Okanagan Lake, restaurants, shops, and the growing Kelowna North area all close by. The property itself is zoned for higher-density development, while the nearby Kelowna Mill Site is planned for future redevelopment into expanded public parkland and beachfront, approximately a 5-minute walk away - adding even more appeal to this already well-positioned property. Whether you're looking for a home with a mortgage helper, a rental property, a long-term hold, or a future redevelopment opportunity, there is plenty to work with here!

Property details

Market read

At $394 per sq ft of finished area, it is listed 6% above the $371 per sq ft median of the 1049 detached homes that sold between $618K and $1M in the Central Okanagan over the last 12 months, and in line with the $391 per sq ft median of the 481 listed in that range now.

481 active listings against 1049 sales in a year is about 6 months of supply in this range, at the past year's pace. Those sales took a median 41 days and sold at a median 97.4% of their final list price.

Across Kelowna North, 40 detached homes sold in the last 12 months at a median $916,250 ($525 per sq ft), in a median 49 days, at 95.9% of final list price; 27 are listed now.

On the market 23 days under this listing, at its original price.

Association of Interior REALTORS® MLS® data, as of October 24, 2026. Sales are dated by accepted offer over the last 365 days. The price range is this list price plus or minus 25 percent, for the same kind of home in the same board area. Medians appear only where at least five properties qualify. Price per square foot uses total finished area, above and below grade together, so it is a check on price, not a valuation.

Location

Neighbourhood Access