MF3 DEVELOPMENT OPPORTUNITY IN TRANSIT CORRIDOR – (KLO AREA) Excellent opportunity to acquire a multi-family, multi-story development site in Kelowna’s rapidly evolving KLO Rd corridor. This property has already achieved MF3 zoning, allowing for near-term development potential in a high-demand rental and residential market. Situated within a designated transit supportive corridor, the site benefits from progressive planning policies supporting increased density and more flexible parking requirements (buyer to verify with City of Kelowna). FAR of 2.05 for residential development - and utilizing the rental bonus, an FAR of up to 2.35 is achievable. In conjunction with the neighboring MF3-zoned lot, and the addition of an adjacent third property on Holland road, (that the City will support rezoning to MF3) there is a significant increase in the overall development area to 0.98 acres. The assembly is located in an area experiencing strong redevelopment momentum, with excellent proximity to transit, amenities, schools and major transportation routes. The existing homes also provide holding income while development plans are advanced. This property can only be purchased in conjunction with both 3080 Holland Road, and 3090 Holland Road, as a land assembly. (id:44056)

Property Details

Full Address:
1240 KLO Road, Kelowna, British Columbia
Price:
$ 2,600,000
MLS Number:
10386481
List Date:
May 11th, 2026
Lot Size:
0.31 ac
Year Built:
1968
Taxes:
$ 3,932

Interior Features

Bedrooms:
5
Bathrooms:
3
Total Rooms:
Air Conditioning:
See Remarks
Heating:
Electric

Building Features

Architectural Style:
Multi-level
Storeys:
2
Sewer:
Municipal sewage system
Water:
Municipal water
Roof:
Asphalt shingle, Unknown
Exterior:
Stucco
Garage:
Attached Garage
Garage Spaces:
2
Ownership Type:
Freehold
Taxes:
$ 3,932

Floors

Finished Area:
1778 sq.ft.

Land

Lot Size:
0.31 ac
Lot Features:
Level lot

Neighbourhood Features

Ratings

Commercial Info

Neighbourhood Details

Location

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Bruce Cottier Royal LePage Kelowna
250-899-2195
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Listing Agent(s)

Lead Agent: Bruce Cottier
Office: Royal LePage Kelowna
Originating Board: Association of Interior REALTORS®

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