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:4069)
Address
5565 Okanagan Landing Road
List Price
$1,150,000
Property Type
Single Family
Type of Dwelling
House
Style of Home
Bungalow
Transaction Type
Sale
Area
British Columbia
Sub-Area
Vernon
Bedrooms
3
Bathrooms
1
Floor Area
1,630 Sq. Ft.
Lot Size
0.55 Sq. Ft.
Year Built
1964
MLS® Number
10395031
Listing Brokerage
Coldwell Banker Executives Realty
Postal Code
V1T7A6
Ownership
Freehold
Heat Type
Forced air
Number Of Floors In Building
1
Water Source
Municipal water
Sewer
Septic tank
