5940 Victoria Street
Peachland, British Columbia
MLS® 10397828
$1,100,000
- Status
- Active
- Property type
- House
- MLS® number
- 10397828
- Bedrooms
- 2
- Bathrooms
- 1
- Year built
- 1945
1 / 26Listing description
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.
Property summary
- MLS® number
- 10397828
- Property type
- Single Family
- Building type
- House
- Square footage
- 936 sq ft
- Title
- Freehold
- Land size
- 0.37 acres
- Built in
- 1945
- Annual property taxes
- $2,783.00
- Parking
- 6 spaces · Additional Parking
- Days on market
- 1 day
Features & details
- Heating
- Baseboard heaters, Electric, See remarks
- Basement
- Partial
- Appliances
- Washer, Refrigerator, Range - Electric, Dryer
- Exterior features
- Stucco
- Lot features
- Irregular lot size
- Community features
- Family Oriented
- View
- Lake view, View (panoramic)
What would this home cost you?
Based on the $1,100,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of REMAX Kelowna, West Kelowna.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.