Property Description
Outstanding investment and redevelopment opportunity on approximately 0.55 acres with Medium Scale Housing zoning, offering excellent potential for a 32-unit apartment development (buyer to verify development plans with the City of Vernon).The property includes a well-maintained 3-bedroom home currently rented for $2,600 per month to clean, reliable tenants, providing immediate cash flow while development plans are finalized. This is an ideal holding property for developers and investors looking to generate income throughout the planning process. Strategically located on Okanagan Landing Road, the property is just minutes from Okanagan Lake, schools, parks, shopping, public transit, and downtown Vernon. Positioned within one of Vernon's fastest-growing areas, this site benefits from strong demand for higher-density housing and excellent access to amenities. Whether you're an experienced developer or an investor seeking a high-potential land holding, this property offers an exceptional opportunity to secure a Medium Scale Housing development site with existing rental income in a highly desirable location. (id:6770)
Overview
Price
$
1,150,000
MLS #
10395031
Age
1964
Size
1630 sqft
Lot Size
0.55
acres
Bedrooms
3
Bathrooms
1
Water
Municipal water
Sewer
Municipal sewage system
Property Type
Single Family
Stories
1
Listing Office
Coldwell Banker Executives Realty
Lower level
Unfinished Room
24' x 13'
Bedroom
24' x 12'
Bedroom
12' x 9'
Main level
Laundry room
7' x 5'
Primary Bedroom
12' x 11'
Full bathroom
Measurements not available
Dining room
14' x 12'
Living room
23' x 12'
Kitchen
12' x 8'
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