633 Glenwood Avenue Kelowna, British Columbia V1Y 5M2
$1,550,000
Rare opportunity to acquire a prime development property in the heart of South Kelowna. Currently featuring a well-maintained rental house, this expansive property offers immediate rental income while you plan your development. With MF4 zoning that allows for a 6-story building by blending neighbouring properties and located in a parking exempt zone, the potential for high returns on investment is immense. Close Proximity to shops, restaurants, services and steps away from the Kelowna General Hospital. Additionally, located within close proximity to Okanagan Lake. Key Features: • Zoning: MF4 zoning ideal for 6 story residential development with minimal parking restrictions by blending neighbouring properties. • Current Structure: Charming, income-generating house currently leased to reliable tenants for $3,650.00 per month. Casita in backyard which creates the potential for additional square footage and rental income • Location: Situated in a highly desirable area with robust market demand, ensuring strong appreciation potential. • Accessibility: Excellent transport links and proximity to major roads, public transport, shopping centres, schools, and recreational facilities. • Future Development: Perfect canvas for developers looking to build residential apartments, Potential FAR of max 2.8 https://drive.google.com/file/d/1nnRRM1iGSNHbZ5zrNUv8SJ7qGVlfjmDq/view (id:46227)
Property Details
| MLS® Number | 10323178 |
| Property Type | Other |
| Neigbourhood | Kelowna South |
| Parking Space Total | 3 |
Building
| Cooling Type | Heat Pump |
| Exterior Finish | Vinyl Siding |
| Heating Type | Heat Pump, See Remarks |
| Roof Material | Asphalt Shingle |
| Roof Style | Unknown |
| Type | Residential Commercial Mix |
| Utility Water | Municipal Water |
Parking
| See Remarks |
Land
| Acreage | No |
| Current Use | Mixed Use |
| Fence Type | Fence |
| Sewer | Municipal Sewage System |
| Size Frontage | 50 Ft |
| Size Irregular | 0.18 |
| Size Total | 0.18 Ac|under 1 Acre |
| Size Total Text | 0.18 Ac|under 1 Acre |
| Zoning Type | Unknown |
https://www.realtor.ca/real-estate/27356459/633-glenwood-avenue-kelowna-kelowna-south
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September 03 2024 04:50:34
Okanagan-Mainline Real Estate Board
Royal LePage Kelowna