About This Property
COURT ORDERED SALE! This 15.15 acreage of Single Family Development Land is a breathtaking piece of property that boasts stunning views of Okanagan Lake. Nestled in an easily accessible location between two parks, this property provides a quick commute to Downtown Kelowna, making commuting a breeze. In addition, the Shelter Bay Marina is less than a 5 minute drive away, offering ample opportunities for water- based activities. The property is currently zoned RU1 and RU2, making it an attractive investment for developers looking to create residential housing. Conceptually a duplex or single family lot subdivision with potential of 32+/- duplex/single family lots, the property offers ample space for a thriving community. This court-ordered sale is a unique opportunity for interested buyers to acquire this prime piece of a real estate and unlock its potential for a thriving residential development. (id:64973)
The $7 million price tag for this 15.15-acre vacant land in West Kelowna reflects a premium of approximately $462 per square foot, significantly higher than the average for the area. However, the property's prime lakefront location and development potential make it an attractive option for high-net-worth individuals seeking a unique investment opportunity in the Okanagan region. This sizeable acreage is best suited for experienced real estate developers or investors with the resources to navigate the municipal zoning and permitting process, as they can leverage the property's flexible RU1 and RU2 designations to maximize its long-term value through residential or mixed-use development.
Property Details
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