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401 Meikle Avenue

$2,599,000

Large, 0.22 acre development site right across from Okanagan Lake and in the heart of the vibrant Pandosy neighbourhood in Kelowna. Close proximity to Pandosy Village, which offers a range of shops, cafes and services. Additionally, located steps from the shores of Okanagan Lake providing future residents with opportunities for recreational activities and stunning views. Current zoning is UC5 (Pandosy Urban Centre) which promotes livable, vibrant, sustainable communities with optimal land use and increased economic activity. The owner has a 24-unit Development Permit in place with the city, which can be revised to 30-units without any further approvals. Permitted density up to 2.35 F.A.R. Gross lot size of 9,590 sq. Ft that permits up to 22,614 sq. Ft of buildable area. Impressive preliminary architectural plans and landscaping plans in place. As an added bonus, there is an existing detached 5 bed 2 bath home with suite that provides a gross income of $4,100/month with utilities paid by the tenant. An excellent income source for the holding period prior to redevelopment. Current house on property is 5 bed/ 2 bath with suite downstairs. (id:56785)

Property Details

MLS® Number

10307340

Neigbourhood

Lower Mission

Amenities Near By

Park, Recreation, Schools, Shopping

Building

Constructed Date

1958

Cooling Type

Central Air Conditioning

Exterior Finish

Stucco, Wood Siding

Heating Type

Forced Air, See Remarks

Roof Material

Asphalt Shingle

Roof Style

Unknown

Type

Residential Commercial Mix

Utility Water

Municipal Water

Land

Acreage

No

Current Use

Mixed Use

Land Amenities

Park, Recreation, Schools, Shopping

Sewer

Municipal Sewage System

Size Frontage

70 Ft

Size Irregular

0.22

Size Total

0.22 Ac|under 1 Acre

Size Total Text

0.22 Ac|under 1 Acre

Zoning Type

Unknown

Interested?

Contact us for more information

Kyle photo 250.300.9234 kyle@pruskyproperties.com

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