Exciting development and investment opportunity in Peachland! This property features an existing renovated home that is currently rented, providing holding income while you explore the development potential. Zoned R1, the property has received a Preliminary Layout Review from the District of Peachland for a proposed two-lot subdivision, with the proposed lots meeting the required minimum dimensions. Importantly, District of Peachland Zoning Bylaw No. 2400 provides for a maximum density of up to four dwelling units on an R1 lot serviced with both municipal water and sewer. If the proposed subdivision is completed, each of the two resulting R1 lots could therefore have potential for up to four dwelling units, creating the potential for up to 8 units in total, subject to approvals and applicable requirements. Combined with BC’s Bill 44 housing legislation, this property offers significant future development potential. A new development featuring duplexes is also underway directly behind the property, highlighting continued residential growth in the area. An excellent opportunity for investors, builders or developers seeking rental income today and strong future development potential. Buyers are encouraged to verify permitted uses, density, servicing and development requirements with the District of Peachland. (id:4069)
Address
5940 Victoria Street
List Price
$1,100,000
Property Type
Single Family
Type of Dwelling
House
Transaction Type
Sale
Area
British Columbia
Sub-Area
Peachland
Bedrooms
2
Bathrooms
1
Floor Area
936 Sq. Ft.
Lot Size
0.37 Sq. Ft.
Frontage Length
130 ft
Year Built
1945
MLS® Number
10397828
Listing Brokerage
REMAX Kelowna
Basement Area
Partial
Postal Code
V0H1X4
Ownership
Freehold
Parking Places (Total)
6
Site Influences
Recreation, Shopping, View
Features
Irregular lot size
Community Features
Family Oriented
Appliances
Refrigerator, Dryer, Range - Electric, Washer
Heat Source
Electric
Heat Type
Baseboard heaters, See remarks
Number Of Floors In Building
1.5
Water Source
Municipal water
Access To Property
Easy access
Sewer
Municipal sewage system
