3 Bedrooms

3 Bathrooms

2,450 sqft

$1,500,000

Developer Liquidation – Exceptional Development Opportunity. Priced $771,000 Below BC Assessment. A rare opportunity to acquire a premium 2.85-acre lakeview development site in Peachland at an exceptional value. The seller is reducing inventory, creating an outstanding opportunity for developers, builders, and long-term investors. The property is currently zoned RR1, but designated Medium Density Residential under the future Official Community Plan (anticipated August 2026), allowing for approximately 25 townhome units per hectare under RM3 zoning. Combined with panoramic, unobstructed Okanagan Lake views, this is a prime site for future redevelopment. Generate holding income while advancing plans with a meticulously maintained 2,450 sq. ft. home featuring 3 bedrooms, 3 bathrooms, plus a separate carriage house (currently vacant) ideal for rental income or additional accommodation. Strategically located on Princeton Avenue, a designated active transportation corridor, the property offers excellent accessibility within one of Peachland's most desirable lakeview communities. Highlights: $771,000 below BC Assessment, 2.85-acre future RM3 development site, Approx. 25 townhome units/hectare, Panoramic Okanagan Lake views, Existing home + carriage house for holding income, Outstanding long-term development potential. Large lakeview development parcels of this caliber are increasingly rare. Secure this exceptional investment at a price well below assessed value. (id:64133)

• Property Details
• Building
• Land
• Rooms
• Utilities

• Property Details

  MLS® Number	10389543
  Property Type	Single Family
  Neigbourhood	Peachland
  CommunityFeatures	Pets Allowed, Rentals Allowed
  ParkingSpaceTotal	2

• Building

  Bathroom Total	3
  Bedrooms Total	3
  Architectural Style	Ranch
  Basement Type	Full
  Constructed Date	1975
  Construction Style Attachment	Detached
  Cooling Type	Central Air Conditioning
  Heating Type	Forced Air
  Stories Total	2
  Size Interior	2,450 Sqft
  Type	House
  Utility Water	Municipal Water

  Parking

  Detached Garage

  2

• Land

  Acreage	Yes
  Sewer	Municipal Sewage System
  Size Irregular	2.84
  Size Total	2.84 Ac|1 - 5 Acres
  Size Total Text	2.84 Ac|1 - 5 Acres

• Rooms

  Level	Type	Length	Width	Dimensions
  Basement	3pc Bathroom			5'8'' x 9'3''
  Basement	Storage			10'10'' x 49'9''
  Basement	Family Room			15'4'' x 27'11''
  Basement	Bedroom			9'9'' x 13'11''
  Main Level	Laundry Room			7'3'' x 10'7''
  Main Level	Sunroom			9'7'' x 17'4''
  Main Level	4pc Bathroom			Measurements not available
  Main Level	Kitchen			11'9'' x 14'5''
  Main Level	Living Room			12'2'' x 16'8''
  Main Level	Den			6'8'' x 8'
  Main Level	3pc Bathroom			Measurements not available
  Main Level	Bedroom			10'8'' x 11'0''
  Main Level	Dining Room			7'9'' x 10'
  Main Level	Primary Bedroom			13'11'' x 14'10''