Located at 1671 Lynrick Road in Kelowna, British Columbia, this property is a .35 acre lot with multi-family potential. The preliminary discussions with the city have shown support for MF1 or MF2 zoning potential, with existing multifamily developments on two adjacent sides of the property. The 15,246 sq ft property is priced at $72/sq ft and includes a beautifully updated home with 3 bedrooms on the main level and a self-contained 2 bedroom suite on the lower level. This home has the potential to generate excellent revenue while going through the development process with the City, making it an attractive opportunity for a small developer at an extremely competitive price point.
The property is currently for sale and is zoned as Freehold ownership type. The land size is 0.34 acres and is surrounded by amenities such as golf, the airport, parks, recreation facilities, schools, and shopping, making it an ideal location for potential residents.
With its prime location and the potential for multi-family development, this property presents an excellent investment opportunity for developers or individuals looking to capitalize on the growing real estate market in Kelowna. Don't miss out on this chance to own a piece of land with great potential in a desirable area.
