Lakeshore Multi Family Development Site on Okanagan Lake

Vacant Land for Sale
Catylist Listing ID: 30258853
Property Subtypes: Multi-Family
Gross Land Area: 9.91 Acres
Sale Price: $5,000,000
Unit Price: $504,540 Per Acre
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/8/2018

Overview / Comments

A rare offering of a multi family site on Okanagan Lake in Vernon. Zoned R5 with frontage on Okanagan Landing Road and Lakeshore Drive. Situated next to The Strand Lakeside Resort on Okanagan Lake. Close to Okanagan Landing Elementary and Paddlewheel Park. 9.91 acres with 6.69 acres usable after wet land restrictions. Zoning bonus allows 14.4 units per acre. R5 zoning bylaw is attached.

Additional Details

Nearest CMA: Vernon
Regional District: North Okanagan
Parcel ID: 023-690-127; 023-690-101
Zoning: R5 - FOURPLEX HOUSING RESIDENTIAL
Property Visibility: Excellent
Legal Description: Lot 6 DL62 & Sec 30 Twp 9 ODYD Plan KAP58651 Exc Plan KAP84093 and Lot 5 DL62 ODYD Plan KAP58651
Largest Nearby Street: Okanagan Landing Road
Airports: Vernon Regional Airport
Site Description: A rare offering of a multi family site on Okanagan Lake in Vernon. Zoned R5 with frontage on Okanagan Landing Road and Lakeshore Drive, Situated next to The Strand Lakeside Resort on Okanagan Lake. Close to Okanagan Landing Elementary and Paddlewheel Park. 9.91 acres with 6.69 acres usable after wet land restrictions. Zoning bonus allows 14.4 units per acre.
Lot Frontage: 1191.37 feet
Lot Depth: 414.59 feet
Zoning Description: R5: Fourplex Housing Residential. Purpose to provide a zone for the development of a maximum of four ground oriented dwelling units in the form of single detached, semi-detached, duplex, three-plex or fourplex housing on urban services.
Topography: Level
Easements: Utilities, Environmental
Available Utilities: Electric, Water, Gas, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal


Contact

Photograph of Listing Agent

Don Kassa

RE/MAX - Vernon Commercial First Member
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