Rare opportunity to acquire a prime development property in the heart of South Kelowna. Currently featuring a well-maintained rental house, this expansive property offers immediate rental income while you plan your development. With MF4 zoning that allows for a 6-story building by blending neighbouring properties and located in a parking exempt zone, the potential for high returns on investment is immense. Close Proximity to shops, restaurants, services and steps away from the Kelowna General Hospital. Additionally, located within close proximity to Okanagan Lake. Key Features: •Zoning: MF4 zoning ideal for 6 story residential development with minimal parking restrictions by blending neighbouring properties. •Current Structure: Charming, income-generating house currently leased to reliable tenants for $3,650.00 per month. Casita in backyard which creates the potential for additional square footage and rental income •Location: Situated in a highly desirable area with robust market demand, ensuring strong appreciation potential. •Accessibility: Excellent transport links and proximity to major roads, public transport, shopping centres, schools, and recreational facilities. •Future Development: Perfect canvas for developers looking to build residential apartments, Potential FAR of max 2.8 https://drive.google.com/file/d/1nnRRM1iGSNHbZ5zrNUv8SJ7qGVlfjmDq/view (id:2493)
Data was last updated June 15, 2024 at 11:15 PM (UTC)
Area Statistics
Listings on market:
236
Avg list price:
$902,500
Min list price:
$199,900
Max list price:
$5,999,000
Avg days on market:
52
Min days on market:
2
Max days on market:
367
Avg price per sq.ft.:
$746.37
These statistics are generated based on the current listing's property type
and located in
Kelowna South. Average values are
derived using median calculations.
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