$969,000

About this property

This is a prime redevelopment location. Many advertise their offerings as such, but this one really lives up to the hype. The inside corner site It is one of the last big lots on a street that is under going change. Investors and builders should look at this for multi-family development. This lot is unique due to its generous size but also because it backs onto TWO lane ways giving your designer a number of different options to shape the building and parking. Zoned UC5, the property offers excellent potential for a fourplex, townhouse development, or low-rise apartment (subject to City of Kelowna approvals and lot size requirements). Just a 10-minute walk to schools, beaches, parks, shopping, and everyday amenities, the location is ideal for future residential development and highly desirable for tenants or owners alike. The existing 4-bedroom, 2-bathroom home provides strong holding or rental income while development plans are explored. We will be honest, the home has had almost no updating in its lifespan and most components are end of life. You are buying dirt. But it is really good dirt in a great location that affords lots of flexibility. (id:66946)

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