Property Description
HM Commercial Realty is pleased to present the opportunity to purchase a 0.34 acre parcel in the highly sought after Lower Mission area.
HIGHLIGHTS
- 0.34 acre (14,914 SF) large residential lot with future redevelopment potential
- Well located in the highly desirable Lower Mission core area neighborhood, on Lanfranco Road between Casorso Road and Silverberry Road
- Site is currently zoned RU1 Large Lot Housing and is within the area proposed for automatic pre-zoning by the city to permit four-plexes
- Kelowna’s Official Community Plan puts this property in one of the city’s Core Neighbourhhoods
- Holding income provided from the existing home on the property, which has 2 units
- Existing home totals 2,372 SF with 3 bedrooms and 3 bathrooms
- The minister of housing has recently introduced legislation to change municipal zoning rules to provide further density on single family lots.*
- Read up on this new legislation here: New legislation aims to create more small-scale and multi-unit housing in B.C.
*buyers to complete their own due diligence
