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:4069)
Address
6101 Lipsett Avenue
List Price
$1,500,000
Property Type
Single Family
Type of Dwelling
House
Style of Home
Ranch
Transaction Type
Sale
Area
British Columbia
Sub-Area
Peachland
Bedrooms
3
Bathrooms
3
Floor Area
2,450 Sq. Ft.
Lot Size
2.84 Sq. Ft.
Year Built
1975
MLS® Number
10389543
Listing Brokerage
The Agency Kelowna
Basement Area
Full
Postal Code
V0H1X7
Ownership
Freehold
Parking Places (Total)
2
Community Features
Pets Allowed, Rentals Allowed
Heat Type
Forced air
Cooling Features
Central air conditioning
Number Of Floors In Building
2
Water Source
Municipal water
Sewer
Municipal sewage system
