3 Bedrooms

1 Bathrooms

1,630 sqft

$1,100,000

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:64133)

• Property Details
• Building
• Land
• Rooms
• Utilities

• Property Details

  MLS® Number	10395031
  Property Type	Single Family
  Neigbourhood	Okanagan Landing

• Building

  Bathroom Total	1
  Bedrooms Total	3
  Architectural Style	Bungalow
  Constructed Date	1964
  Construction Style Attachment	Detached
  Heating Type	Forced Air
  Stories Total	1
  Size Interior	1,630 Sqft
  Type	House
  Utility Water	Municipal Water

• Land

  Acreage	No
  Sewer	Septic Tank
  Size Irregular	0.55
  Size Total	0.55 Ac|under 1 Acre
  Size Total Text	0.55 Ac|under 1 Acre

• Rooms

  Level	Type	Length	Width	Dimensions
  Lower Level	Unfinished Room			24' x 13'
  Lower Level	Bedroom			24' x 12'
  Lower Level	Bedroom			12' x 9'
  Main Level	Laundry Room			7' x 5'
  Main Level	Primary Bedroom			12' x 11'
  Main Level	Full Bathroom			Measurements not available
  Main Level	Dining Room			14' x 12'
  Main Level	Living Room			23' x 12'
  Main Level	Kitchen			12' x 8'