1.28 ACLand$2,200,000Sale
1.28 AC
Land
$2,200,000
Sale
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Approx. 1.275 acres or ±55,608 SF residential property identified as being within the OCP 2040 Core Area by the City of Kelowna. Currently zoned MF1 - Infill Housing, with room for densification on lot. Central location in a well-established residential neighbourhood. Potential holding income from the existing 5-bedroom & 3-bathroom single-family home until the property is ready for redevelopment. It is currently stated in the zoning bylaws, that the purpose of MF1 zoning is to provide a zone for infill development within the core area of the City (which the subject property is limiting development to 6 ground-oriented residential units or less. A potential for bare land stratification could allow for more units.
The Property
Asking Price$2,200,000
Available Space1.28 AC
Property UseAgriculture / Investment property
ZoningMF1
SourceDirect
The Lot
This 1.275-acre property is centrally located in Glenmore and is within Kelowna’s OCP 2040 Core Area. Currently zoned MF1 - Infill Housing thatprovides for infill development but limits development to ground-oriented housing of 2 storeys. Preliminary plans indicate 16 units total includingten 3-bedroom townhouses and six 4-bedroom townhouses. The existing 2,496 SF, 5-bedroom, 3-bathroom single-family home can provideholding income until the property is ready for redevelopment. This is a large, peaceful lot tucked away in a residential neighbourhood, yet only ashort walk to Bankhead Elementary School, and the coffee shops, craft breweries & restaurants in the growing brewery district in DowntownKelowna.
Property TypeLand
Lot Size1.28 AC
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